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A brand image in today's society cannot be over-valued. It provides an organization with a distinct and memorable personality for consumers to know and trust. It acts as a tangible symbol of its unique values, essence and good will. It creates loyalty for a company, respect for its principals and preference for its services - regardless of price. It is the most valuable asset a business can have. The successful development of a brand image requires a sizable investment of resources over a broad spectrum of activities. To demonstrate this, we will look at a very simple example: People often ask for a Kleenex when they really mean to say a tissue. That shows the power of advertising and effective marketing. Some of the best-known growing companies, according to Michael Eisner, founder of the Disney Corporation, introduce new products each year at a rate of 20 to 30 per cent. Mr. Eisner is a great believer in synergy and though he says it is often scoffed at as the "S word" used at the time of a merger or acquisition, he still firmly believes in it as a powerful force for business success. His bottom line is that you have to try to build a powerful brand. Like Coke and McDonald's, Disney is an internationally well-known brand name, though it might be over the top to plan for world domination with your goods or services, a small business has to strive to be the best known cafe in the suburb, the best builder in the district or the best accountant in town. In March, 1999, McBain Associates researched the branding issue by interviewing more than 100 brand managers, providing new evidence that public relations is the most effective way to establish brand credibility, to surround a brand in a particular editorial context, and provides the best return for the marketing dollar spent. The majority of brand managers polled, 51 percent, believe that public relations, when compared to advertising, sales promotion and new media, is critical (�very important�) for establishing brand credibility. By comparison, 44 percent characterized advertising as �very important,� 21 percent said sales promotion, and 17 percent described new media the same way. For your brand name to be successful, people must associate it with high quality service. Use every available opportunity to put your name in front of people on your website and over time your brand name will develop. Note from Fluffy the Moose You are encouraged to place this article on your own site, providing full credit is given, along with a link to this site. |