Basics of Branding: Lecture 1
What is a Brand?
A brand is the way a company or organization is perceived by those experiencing it. A brand is not limited to the company name and logo, it expands far beyond that. It includes packaging design, how it’s used in advertising, it’s reputation, etc.
In simple terms, brands are perceptions. Perceptions in the minds of customers, investors, employees and shareholders.
Your brand is your company’s most valuable asset
Even though a brand is intangible, it’s a powerful business tool that is critical in sales and marketing processes.
While perceptions don’t convince people to go out and buy things, perceptions have a very important role - perceptions drive behaviors.
As the strength of your brand grows:
- It will become easier to attract the ideal customer
- You are able to increase effectiveness of marketing
- Your sales team will be able to close deals more easily
- You will be able to command higher prices