What’s New in Branding?

Branding, as an idea, seems to be held by many as the hot new thing in marketing.

But really, brand is the very oldest of marketing concepts. Branding started with trademarks and physical marks or “brands” on craft products, property, and animals. All this to identify the maker or owner. So first, a brand is an identification of the maker or producer. That’s where it all began.

The key questions, then, today are : Are they aware of the mark or name? Do they know where it came from? What does this brand mean to them? What is its value? And, what is this brand saying, or promising, to the customer?

That’s pretty much it.

What this means for brand management is that there are three main components of brand. That’s what we have when we take away all the fancy thinking, twists, ideas, and books by professors and gurus:

Three (3) core components of a brand.

So, here’s what must be measured, monitored, and managed to maintain brand power:

1. the “VALUE BUNDLE” — the essence of the features and benefits delivered by the brand.

2. the “PROMISE” or contract with the customer about what will be delivered.

3. the “BRAND PICTURE” which is the physical identifiers and communications: logos, ads, Web 2.0 presence, packaging, distinguishing product ID

So, that’s it.  Manage the three core components so that they deliver the five qualities, and you’ve got a powerful and profitable brand.

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