There are many brands which we have memories, associations, and also choose to use for a whole variety of reasons, ranging from the prestige to the price. Here we will look at how some of these brands become successful and what this means as a user of a brand. In simple terms, what it normally means is that you are going to pay more, but we will discuss why we are willing to pay more for these things.
The definition of a brand according to wordnetweb is “a name given to a product or service”. This provides us with some insight into the things which go on behind the scenes with branding! Status plays a huge part in branded products. The higher the price of an item or goods, the bigger the status symbol which this item will provide us with. Yachts, Airplanes are extreme example of items which provide a status symbol, but there are a lot more day to day examples which we come across. Whilst these items provide us with a feeling of status, within these items there will still be brands which everyone will want. Some of this perception around the brand will be because of the quality of the engineering. But some of it, will just be because of the elitist feeling that the item generates for its customers.
I have been very fortunate and have recently received a watch as a present. This watch was a “branded” watch. I was very lucky and received the watch at below cost price. The watch retails for £300, the cost price for the item was £25. This just serves to demonstrate how powerful a brand can be, as the watch which I own is achieving a huge amount of profit every time one is sold. This is an item which is a best seller for the company which makes the watch.
Cars are another example. Sure there are some, very rare cars which are hand made. But in this modern day, you would almost not want the car to be handmade, as this will not provide the levels of reliability which you would expect from your hand built vehicle. So vehicles are mass produced. Sure, there will be some vehicles which will be built to a much higher standard and use far superior quality materials within their construction, but the vast majority probably won’t. Once again we have been sucked in by a brand. So, the next question is: Is the brand worth the price tag?
There are lot of different opinions on this type of topic. When I first thought about writing this article, I was purely looking at online services as examples of brands. So lets use Aweber as an example. They have a strong brand, they have a good product, but once again there will definitely be lesser known providers which do the same thing for a lower price. Now, for me, with my self confessed limited internet skills, Aweber is important for me, as it gives me the step by step instructions on how to use it! Therefore from my perception Aweber is worth every penny, as I use a whole variety of the different areas of information which it provides. However, once I have learnt everything which Aweber has to teach, should I then continue to use the service? Probably not, but because I am comfortable with the service, and it has proved to be valuable to me, in providing a good service I will probably stick with it. Why? Well now it has become a trusted brand.
Facebook is a trusted brand. There has been lots of talk recently about the way in which Facebook has casually introduced the Like feature across the internet. All of a sudden, they have the capability to reach deep into people’s online exploits and build up a massive profile on these people. Sure Facebook do not offer a paid service, but the business is profitable, so they have massive potential to influence the information which it users see. The users will have some control over the stream which they land on, but they will not have full control.
So, if you are looking to develop a brand, you really need to make it a trusted brand. Probably the easiest way to do this, is to in some way associate your brand with a brand which is already familiar and trusted to people. So if you were able to get your brand alongside something which has positive connotations, this will certainly help the cause. You will need clean colours, bright images, and a strong message.
I’m certainly no brand marketing expert, but it seems to me that the more often that something appears in front of someone, providing it is not too contentious, it is likely after a period of time that this will become familiar. You will therefore need to repeatedly get your product or service in front of people on lots of occasions, this will then in turn create the trust which you need.