Brand Management: Myths

mb-myths

Brand management is the most significant and powerful process behind a successful brand; it establishes a position in the minds of consumers, sets the brand apart from competitors, and builds overall brand value. The process, as vast and complex as it is, is often underestimated in its importance and what exactly it entails.

Here are three myths about branding, debunked:

A Brand Is A Logo
This is a common misconception, as a logo is the very recognizable and well–known visual representation of a brand. However, a logo is only one part a bigger picture. A brand is everything a company/business says, does, stands for, and is involved in. It’s the relationship a company has created with their consumers through their voice, actions, and values.

Branding Is Advertising
The words branding and advertising are often thought to be, for the most part, interchangeable. While they do work together to achieve similar objectives, they are two different strategies.

Branding is at work every time a company interacts with consumers, or is involved in any situation. Advertising is a paid method of marketing that certainly enhances branding efforts but is generally used to sell products. Advertising is used for a planned duration of time, whereas branding is used every day.

Branding Is A One–Time Job
Another common myth about brand management (possibly coming from the first myth) is that it’s a job that can be started and finished, but in reality, it’s an ongoing process. Even once established, a brand must continuously reinforce and strengthen their position in their consumers’ minds and lives. They do so with their advertising, with the content they produce on any communication platform (digital, social media, print), with their partnerships and/or involvements concerning social and environmental issues, and with every time they interact with consumers. With so many brands existing, it’s a continuous process to stay top–of–mind and maintain a strong brand position.

As you can see, these myths are only the tip of the branding iceberg, as the process is extremely powerful, complex, and exciting.

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