The role of brands: How brands create value for consumers and companies

The role of brands: How brands create value for consumers and companies

TL;DR Brands take on multiple roles in daily life. All generate value for consumers of organizations in one way or another. Brands act as identifiers, reputation and building blocks of identity for the consumer. For the organization, profit is the main role of brands. Brands serve a multitude of roles, both for the consumer and…

How to inspect and improve your brand with Kapferer’s Brand Identity Prism

How to inspect and improve your brand with Kapferer’s Brand Identity Prism

TL;DR Kapferer’s Brand Identity Prism is a useful framework to analyse your brand. It considers the identity you intend to project and the identity your customers perceive and summarises it in a co-created brand essence. It helps to decide where to adjust brand identity and where to keep it consistent to keep it relevant for…

What Is Customer Based Brand Equity?
|

What Is Customer Based Brand Equity?

Customer based brand equity is a valuable framework that describes how consumers perceive brands and how brand equity is created. It treats brand equity as a product of brand awareness and brand image in consumers’ minds. Customer based brand equity is one of the most popular representations of the added value of a brand. In…

What is place branding and how do you build a place brand?

What is place branding and how do you build a place brand?

As globalisation rages on, the competition between places is more than ever. Nations, cities, regions and towns strive to differentiate themselves from the competition in order to attract people, capital and institutions.  A powerful tool to achieve that is a place brand. Surprisingly, this is a relatively new concept and is a result of a…

Prestige branding: 6 characteristics of luxurious brands

Prestige branding: 6 characteristics of luxurious brands

Consumers evaluate prestige brands in a different way. Research has shown that consumers’ minds associate them as being more abstract whereas ordinary brands are considered functional and feature-oriented.  Prestigious brands, also known as luxury brands and used interchangeably here, establish a certain emotional dimension in peoples’ brains. They are perceived by feelings, not functionality. But…