Branding-The Added Value
Updated: Jan 11, 2019
This week we learnt about branding from Francesca Dall’Olma Riley, Professor of Brand Management and the Research Lead for the marketing group of the Strategy, Marketing and Innovation Department of Kingston Business School.
According to Seth Godin(2009) A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. If the consumer (whether it’s a business, a buyer, a voter or a donor) doesn’t pay a premium, make a selection or spread the word, then no brand value exists for that consumer.
It means brand is the thing that differentiates a company from another company in the consumers mind. It can be an identity, identifier, trust, assurance of quality, perception, brand image, set of value the company stands for, trademark, a symbol of ownership and most importantly an added value to a product.
Before the sessions there was some reading to do and there were a research and preparation for a task that had to be done. I read a good article by Francesca herself on the roles of the brand. It portraits how the role of branding has changed from the 90s till now. from the viewpoint of companies as well as consumers.
The task was to identify a real role, in a job position or professional aspiration before the class and then create a poster for it in the class. For this task I went with my business idea for ‘The Frighter’ magazine. It will be a published magazine which will contain funny/tragic headline from all over the world. I submitted this idea for the ‘Bright Ideas’ competition. For me, this was a little difficult task, as it involved preparing it by hand sketch and not digitally(which I am more used to). I designed the name using a different font to make it look apart and some sample headlines to put in some humor into the presentation.
Rest of the points were ‘Points of parity, points of difference, target customers and competitors. These points were explained before by Francesca and were not a difficult thing to do. The last step was to come up with a brand mantra. According to Francesca, ‘a brand mantra is an articulation of the “heart and soul” of the brand.’ The brand’s value and positioning are transformed into a short phrase which are known as Brand Mantra. For eg BMW’s brand mantra is ‘Ultimate Driving Machine’ or Mcdonalds’s brand mantra is ‘Fun Family Food’. For ‘The Frighter’ I came up with the mantra ‘Uncorrupted Reality Fun’. Uncorrupted because this is the real truth of what happens in the world, without any layer, reality because its based on true headlines and lastly fun because I hope it will be fun to read it.
This also led me to think about the brand positioning and mantra for the ‘Trusteam’ in the design thinking startup. After the session I thought about its mantra and I came up with ‘Healthy Simple Living’. There is a lot more thinking to do in this area. The selling of marketing of the product will largely depend on the branding we do. Good branding will give us the target market and will help it standout from the competitors.
define:brand, Seth Godin, seth’s blog, December 13, 2009, https://seths.blog/2009/12/define-brand/
Francesca Dall’Olma Riley, Brand Mantras, Brand Management, December 5, 2018