How to Build a Brand Name
Contractor 20/20 Has Helped Many Plumbers and Electricians Build Their Brand and Can Help You With Their Proven System
40,000 consumers were interviewed by Young & Rubicam & New York advertising agency giant to determine how a brand name is built.
RECOGNIZABLE BRAND LET’S YOU STAND OUT FROM COMPETITION.
The building of a successful brand occurs through a very specific progression of consumer perceptions.
Without differentiation – the perceived distinctiveness of a brand — consumers have no basis for selection or loyalty.
If a brand isn’t relevant, (personally appropriate) to consumers, it isn’t going to attract and keep them. There is a strong, positive correlation between relevance and market penetration. Together, relevance and differentiation represent “Brand Strength,” an important indicator of future performance.
If a business is successful in creating “relevant differentiation,” consumers usually respond with a high esteem for the brand. Esteem is related to the perception of quality and increasing popularity.
If a brand has established the relevant differentiation and consumers come to hold it in high esteem, knowledge develops. Knowledge is much more than being aware of the brand; it also involves an understanding of what the brand stands for. Knowledge is not a consequence of media weight alone. Spending money against a weak idea will not buy knowledge.
The relationships between these four measures reveals much about the current and future status of a brand. Strong, newer brands tend to show higher levels of differentiation, lower esteem.