What advice can you offer a company on successful branding?
Research the topic of branding and building a strong brand image, including some research on some brand extensions that have not been successful
Summarize and share any conclusion that can be made from your research on this topic
Share an example of a brand extension that could have gone better. What went wrong, in your opinion?
What advice can you offer a company on successful branding?
Discuss each question and support your ideas with validating scholarly research.
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When it comes to strong brands, names such as Starbucks, Nike, and Apple are often top of mind. These companies have built their brand image over time and have successfully extended their brands into different product categories. However, not all brand extensions have been successful. In this paper, we will explore the topic of branding and building a strong brand image, including some research on unsuccessful brand extensions. We will also provide an example of a brand extension that could have been more successful, share some advice on successful branding, and support our ideas with scholarly research.
Building a Strong Brand Image
A strong brand image is essential for a company’s success. According to Keller (1993), brand image is “the set of beliefs, ideas, and impressions that a person holds regarding a particular brand.” A strong brand image not only increases brand recognition but also builds brand loyalty and trust among consumers.
One way to build a strong brand image is through brand extensions. Brand extensions involve using an established brand name to launch a new product or service in a different category. Successful brand extensions can lead to increased revenue and market share, as well as reinforce the core brand’s values and associations (Aaker, 1990).
However, not all brand extensions are successful. Some studies suggest that unsuccessful brand extensions can have a negative impact on the core brand’s image (Park, Milberg, & Lawson, 1991). This is because consumers may associate the core brand’s values and associations with the unsuccessful brand extension.
Examples of Unsuccessful Brand Extensions
One example of an unsuccessful brand extension is Colgate’s attempt to launch frozen dinners in the 1980s. Despite the brand’s success in the oral care category, Colgate’s frozen dinners failed to gain traction in the market. Consumers did not associate the brand with food, and the product did not align with Colgate’s values and associations (Keller, 2003).
Another example is Kodak’s attempt to launch digital cameras in the 1990s. Despite being a market leader in film cameras, Kodak failed to capitalize on the growing digital camera market. The brand’s association with film photography did not align with the digital camera category, and the company struggled to adapt to the changing market (Carpenter & Moore, 2006).
An Example of a Brand Extension that could have gone Better
One example of a brand extension that could have been more successful is Google’s attempt to launch Google Glass. Google Glass was a wearable technology that allowed users to access information hands-free. However, the product failed to gain traction in the market due to concerns over privacy and social acceptance (Wu & Lu, 2016).
In our opinion, Google could have improved the product’s design and functionality to make it more appealing to consumers. Additionally, the company could have addressed privacy concerns more effectively and marketed the product as a tool for productivity and convenience.
Advice on Successful Branding
To build a strong brand, companies should focus on creating a unique and memorable brand image that aligns with their core values and associations. They should also consider their target audience and develop a clear brand positioning strategy (Keller, 2003).
When extending a brand into a new category, companies should ensure that the product aligns with their core brand image and values. They should also conduct market research to understand consumer needs and preferences (Aaker, 1990).
Creating a successful brand takes more than just a clever name or logo. It requires a deep understanding of your target audience, a clear brand positioning strategy, and a consistent brand image that aligns with your core values and associations. In this section, we will provide some practical advice on successful branding, based on the latest research and industry best practices.
Know your target audience
Before you can build a strong brand, you need to know who you are trying to reach. This requires a deep understanding of your target audience’s needs, preferences, and pain points. By understanding your target audience, you can create a brand that resonates with them on a deeper level and establishes a sense of trust and loyalty.
To better understand your target audience, conduct market research and gather data on their demographics, behaviors, and preferences. You can also leverage social media and other digital channels to engage with your audience and gather feedback on your brand.
Develop a clear brand positioning strategy
A clear brand positioning strategy is essential for differentiating your brand from competitors and establishing a unique brand image. Your brand positioning should reflect your company’s values, mission, and unique selling proposition (USP) and be tailored to your target audience’s needs and preferences.
To develop a clear brand positioning strategy, start by identifying your company’s core values and mission. Then, conduct a competitive analysis to understand your competitors’ strengths and weaknesses and how you can differentiate your brand. Finally, develop a brand messaging framework that communicates your USP and resonates with your target audience.
Create a consistent brand image
Consistency is key to building a strong brand image. Your brand should have a consistent look, feel, and voice across all touchpoints, including your website, social media, marketing materials, and customer service interactions.
To create a consistent brand image, develop brand guidelines that outline your brand’s visual identity, tone of voice, and messaging framework. Train your employees on your brand guidelines and ensure that they are adhering to them in all customer interactions.
Emphasize authenticity and transparency
In today’s hyper-connected world, consumers value authenticity and transparency more than ever before. To build trust and loyalty with your audience, be honest and transparent about your company’s values, mission, and operations.
Communicate your brand’s story and values through your website, social media, and other marketing materials. Be open about your company’s practices, such as sourcing and production methods, and address any concerns or criticisms openly and honestly.
Adapt to changing market trends and consumer preferences
The business world is constantly evolving, and successful brands are those that are willing to adapt and evolve with it. Keep an eye on changing market trends and consumer preferences and be willing to pivot your brand strategy accordingly.
For example, as more consumers are prioritizing sustainability and ethical sourcing, brands that emphasize these values are more likely to resonate with their target audience. Similarly, as the pandemic has forced many businesses to pivot to e-commerce, brands that prioritize online customer experiences and convenience are more likely to succeed.
In conclusion, building a strong brand takes time, effort, and a deep understanding of your target audience and market. By developing a clear brand positioning strategy, creating a consistent brand image, emphasizing authenticity and transparency, and adapting to changing market trends and consumer preferences, you can successfully build a brand that resonates with your audience and drives your business forward.
A strong brand image is essential for a company’s success. Brand extensions can be a powerful tool for building brand recognition and loyalty, but they must align with the core brand’s values and associations. Companies should be aware of the potential risks of unsuccessful brand extensions and take steps to mitigate them. By creating a unique and memorable brand image and developing a clear brand positioning strategy, companies can successfully build a strong brand that resonates with their target audience and stands out in a crowded marketplace. They should also be willing to adapt to changing market trends and consumer preferences to stay relevant and maintain their competitive edge. By following these principles and learning from past successes and failures, companies can successfully build and maintain a strong brand image that drives their business forward.