An important component to branding, is to understand your competition and where you fit into the market. Every consumer has a frame of reference. When a consumer is faced with a choice, they mentally review the reference material that’s associated with that decision. When you understand the frame of reference a consumer has with your product or service, you can determine what messaging is important to influence that decision.
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- An important component to branding…is to understand your competition…and where you fit into the market.…When a consumer is faced with a choice,…they mentally review the reference material…that's associated with that decision.…We understand and remember information…by linking it to things we already know.…Purchasing decisions are made based on benefits…or the perception of benefit.…When you understand the frame of reference…a consumer has with your product or service,…you can determine what messaging is important…to influence that decision.…
Let's say I pull an object out of my pocket…and you don't recognize it.…It's a new piece of technology and it's unfamiliar.…So I say, check out this new gadget.…It's just like the iPhone.…All of a sudden, you have a frame of reference…for what I might be holding.…You know what an iPhone is, and you know…all of the features of an iPhone,…so surely I'm holding some sort of smartphone.…At this stage, your frame of reference…will also dictate how you evaluate the product.…You begin to compare what you know about…
Explore best practices for researching, developing, visualizing, and managing your brand, and learn about incorporating your brand throughout various customer touchpoints and keeping tabs on your brand as your company grows.
- Components of branding
- Creating a brand strategy
- Conducting a brand audit
- Crafting your vision statement and selling position
- Evaluating brand visuals, colors, and language
- Enhancing brand touchpoints
- Measuring brand loyalty and equity