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Written by Toyin Oke on Saturday, 17 October 2009 10:09
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So now you are building a brand, how is it going to be known or seen? Keeping your brand in people’s faces is very essential. Your brand should be alive and kicking, never let it die. ‘Stick it up’ all the time.
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Brand Equity and Brand Value |
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Written by Toyin Oke on Saturday, 17 October 2009 10:07
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In a market where products are similar, branding can have a large effect on the price that customers will pay. Brands therefore add value to a basic product or service by enabling the product or service to command a higher price, or higher market share than an unbranded equivalent. The term Brand equity is used to describe both the value of the brand and the brand's component values. Its value may be a monetary value (which may be discounted to a net present value), an increase in a rate of return, or any number of softer market research measures, such as awareness or consideration.
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Written by Toyin Oke on Saturday, 17 October 2009 10:06
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It's a new brand world. Everything has a label; we go around in someone else’s identity. That Gucci belt you're wearing, or the LV, LV, LV signpost you carry about on virtually everything possible. Ah, how stuck we are in the world of brands. Woman! You're branded, so branded, but it’s none of yours. It's time for your own brand. Let’s learn from the big brands, a lesson on standing out and prospering in the new world. We all need to understand the importance of branding, as it has been mentioned in earlier editions of Brand Currency. As entrepreneurs, the most important job is to be head marketer for the brand called 'You'. Today brands are everything, and all kinds of products and services from accounting firms to sneaker makers to food outlets are coming up with ways to rise beyond the boundaries.
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Written by Toyin Oke on Saturday, 17 October 2009 10:05
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The strongest brands aren’t created with a logo or a tag line. They aren’t created with an advertising campaign. They aren’t even created with a product or service. They begin with a compelling vision—a vision whose foundation is deep customer insight. The insight may be informed by personal experience, in-depth research, active listening, intuition, or one or more of many other paths to customer intimacy. The strongest brands strive to understand cultural context, underlying values, hopes, anxieties, fears and other motivations. They also strive to understand self image, icons that evoke strong memories and feelings and other emotional stimuli. The most progressive organizations find ways to experience relevant contexts and situations with their customers. The strongest brands are authentic and stand for something. They possess integrity. That is, they are internally and externally consistent; they are who they say they are. The strongest brands have a distinctive and consistent ‘voice’ and visual style. They weave compelling stories. And they strive to develop emotional connections to their intended customers.
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