Developing Brands
21st Century Branding for 21st Century Marketing
Dec 9, 2008 Patricia Faulhaber
New research indicates that branding as it has been used for the past several decades is dead. Branding is probably the most overused and often times misused (and sometimes the most misuderstood) marketing tool. When branding is used properly, a company realizes grand scale recognition which translates into sales.
With the new media world of marketing, branding has to take on mobile marketing, online social marketing, digital advertising as well as maintaining (at least for now) a print and television persona. It’s a brave new marketing world that demands brave new ways to brand.
Branding Definition
A white paper published by MIT Sloan Management Review in the winter of 2007 (Pierre, Berthon, Morris B. Holbrook, James M. Hulbert and Leyland F. Pitt, Volume 48 No. 2) provides a simple and accurate definition of branding: “At root, brands are symbols around which companies, suppliers, supplementary organizations, the public and, indeed, customers construct identities.” The authors continue by saying that branding is a "critical issue" for marketing and sales. A strong brand presence facilitates repeat purchases and builds a stronger financial picture for the corporation.
Three Top Brands
All it takes for a consumer to recognize an Apple Computer is to see the unique apple symbol on a product. Or, how easy is it to recognize the Nike Shoe company products with their specially designed check mark? How about Google with its digital designed lettering? Add to those unobtrusive symbols phrases such as ‘Google it’ or ‘Just Do It’ and you have unforgettable brands. All three of these corporations know branding and use it to the max.
What’s New in Branding?
What’s new in branding is what’s new in marketing. Four major factors make today’s marketing challenges different from those in the past several decades. First, the mobile generation demands a different marketing platform. Second, online social networking has redefined so many landscapes but especially marketing and public relations. Third, the evolving new green world and ecosystem savvy consumers require a new branding look. Fourth, the over branding experienced by most consumers (including international consumers) offends many customers and as such they tend to tune out marketing and branding.
To effectively brand today, marketers have to address all four issues. MIT’s research shows that “Recent studies suggest that 90 percent of well-known U.S. brands are planning to initiate mobile marketing practices by 2008”.
New Ways to Brand
MIT has developed a new idea that marketers should consider called ‘brand manifold’. The premise suggests that brands have multiple dimensions and are perceived differently by customers, employees, international consumers and management.
Brand manifold concepts could easily accommodate marketers expanding these dimensions to include the mobile generation, online marketing, green marketing and the over branding dilemma.
Of course constant research and consumer feedback continue to be vital to the new marketing.
First Steps to New Ways of Branding
There is much work to do to implement the ‘new branding’. Marketers, when considering the brand manifold, will need to do thorough research for ways to effectively implement. As always, consumers are very smart and so savvy, if a company is not sincere and dedicated to the branding methods implemented, consumers will know and will not buy.
Start the research by determining the best way to reach the mobile technology generation or how your company can become part of the green movement.
Change is Constant – and Good
It is a brave new marketing and public relations world. It is also continuing to evolve. And, the new challenges make life interesting and keep marketers and public relations professionals at the top of their game.
New Challenges for Marketers
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