Posted in Marketing and Strategy Terms, Total Reads: 2372
Definition: Brand Building
Brand Building is generating awareness, establishing and promoting company using strategies and tactics. In other words brand building is enhancing brand equity using advertising campaigns and promotional strategies. Branding is crucial aspect of company because it is the visual voice of the company. Goal of brand building is creating a unique image about the company.
Brand Building comprises of creating value to consumers that how consumers feel, think and know about your brand. There are three popular brands known-
• Product brand
• Service Brand
• Retail Brand
Steps involved in brand building are-
• Define your brand
• Differentiate and position your brand
• Build and expose your brand
• Personalise your brand
• Review your brand
Strategies should be adopted accordingly which helps in creating and differentiating brand and developing right impression for the company for which it truly stands. Depending on your brand building exercises, your brand may grow, remain stagnant or recede with time. So in brand cycle there is continuous need of bringing new strategies, events and activities that maintain the brand promise. Consumers are co-creators of brand so there preferences and demands should be meet and strategies should be designed by keeping consumers in mind. To create a unique and powerful brand there is need of time and consistency. So Brand Building is an integral part of business development and involves various strategies and tactics over time.