Brand management analyses and plans on how your brand is perceived. Tangible elements are the 7P’s used worldwide to penetrate a target market. Intangible elements are experiences that consumers have with your brand and the relationship that they have with it.
The following four key brand requirements are critical for a successful corporate identity strategy.
- Differentiation. In today’s highly competitive market, brands need to have a clear differentiation or reason for being. What they represent needs to stand apart from others in order to be noticed, make an impression, and to ultimately be preferred.
- Relevance. Brands need to connect to what people care about out in the world. To build demand, they need to understand and fulfil the needs and aspirations of their intended audiences.
- Coherence. To assure credibility with their audiences, brands must be coherent in what they say and do. All the messages, all the marketing communications, all the brand experiences, and all of the product delivery need to hang together and add up to something meaningful.
- Esteem. A brand that is differentiated, relevant and coherent is one that is valued by both its internal and external audiences. Esteem is the reputation a brand has earned by executing clearly on both its promised and delivered experience.