Branding is as tough as marketing, and creating brands of world class quality is more difficult and includes a lot of hard work. World class brands have inbuilt qualities that make them outstand their competitors. These qualities are unique and hence people go for it, since they do not find the same things or the same quality in other brands. Outstanding and withholding emotions of consumers and fulfilling their expectations are not a Childs play. Hence, putting in front of you some of the qualities that normally world class possesses:-
Being well-known is important because without awareness, nothing else counts; a brand can’t be in people’s purchase consideration sets unless they are aware of the brand.
Should be relevant i.e. the brand must be perceived to be relevant to people’s hopes, needs and desires
Should also be differentiated. It should have the capacity to stand out among competitive alternatives; the brand must be unique in ways that matter to customers
It should also be customer-centric, only when the brand knows its customers and their needs well, can it deliver exceptional purchase and usage experiences
Being Trustworthy which implies being honest and authentic, consistent and predictable, reliable and dependable, and always delivering on its promises
Should be Innovative while a brand can succeed for a while without being innovative, ultimately, given today’s hyper-competitive environment, brands must anticipate customer needs and surprise and delight their customers with a constant stream of relevant innovations
Likeable brands can and do create emotional connections with their customers; to do so, they should share values with their customers, possess admirable qualities, and be likeable and easy to work with
Accessible to convert brand preference into brand purchase, brands must be easy to find and purchase; they must be accessible and convenient
Should be popular enough so that brands can be overexposed and certain exclusive brands thrive on their exclusivity, in general, strong brands are perceived to be very popular, much sought after and possessing positive momentum; strong brands receive significant “buzz”
Valuable – when all of a brand’s functional, emotional, experiential and self-expressive customer benefits are weighed against the cost (money and time) of acquiring and using the brand, its value must be perceived to be good, excellent or superior
Ford was once one of the 10 most valuable brands in the world. There are 5 characteristics that all top global brands have in common:[/i][/b]
Similar positioning worldwide that includes a combination of functional product quality and innovation with emotional appeal. Think Coca-Cola and Disney.
A focus on a single product category. Think Nokia and Intel.
The company name is the brand name. All marketing dollars are concentrated on that one brand. Think GE and IBM.
Access to the global village. Consuming the brand equals membership in a global club. Think IBM's "solutions for a small planet."
Social responsibility. Consumers expect global brands to lead on corporate social responsibility, leveraging their technology to solve the world's problems. Think Nestlé and clean water.
Naming is an important part of branding a product or a business. More than that, an important first step when naming a business, product or service is to figure out just what it is that your new name should be doing for you. The most common decision is that a name should explain to the world what business you are in or what your product does.
On a very fundamental level, there are two basic ingredients of the best evocative names:[/i]
Differentiation[/b]
A competitive analysis is an essential first step. How are your competitors positioning themselves? What types of names are common among them? Are they all projecting a similar attitude? Do their similarities offer you a huge opportunity to stand out from the crowd?
Positioning[/b]
The next step is to carefully define your positioning. The idea is to position yourself in a way that rings true in a fresh way–that cuts through all of the noise out there. The goal is to have your audience personalize the experience of your brand, to make an emotional connection with it, and ultimately to take you in. To redefine and own the territory.
From there, a name should contain as many of the following qualities as possible. The more of them that are present, the more powerful the name:
Self-propelling[/b]
A name that people will talk about.
A name that works its way through the world on its own.
A name that’s a story in itself, whether it’s at the local bar, on the job, or on CNBC.
Emotional connection[/b]
What does the name suggest? Does it make you feel good? Does it make you smile? Does it lock into your brain? Does it make you want to know more?
Poetry[/b]
How does the name physically look and sound? How does it roll off the tongue? How much internal electricity does it have? How does it sound the millionth time? Will people remember it?
Personality[/b]
Does the name have attitude? Does it exude qualities like confidence, mystery, presence, warmth, and a sense of humor? Is it provocative, engaging? Is it a tough act to follow?
Deep well[/b]
Is the name a constant source of inspiration for advertising and marketing? Does it have “legs”? Does it work on a lot of different levels?