Branding Basics

From logo to brand

You may spend a great deal of time and energy developing a logo for your startup however it’s worth remembering that you’re a long way from having a brand. Another way of thinking of a brand is as the reputation a business has. 

• Fair dealing and sorting out issues that arise quickly.

• Prompt, clear and helpful communication with customers.

• Being on time and keeping clients informed of delays.

• Having a clean and ordered workspace or van.

• Support of local charities or community groups.

By putting time and energy into these areas the micro business or sole trader can build a a strong reputation or brand in their local area. 

Brand Cornerstones

For those of you that want a deeper understanding of brand building try this exercise.

Think of some of the great logo marks for which you instantly recall the name of the company that owns them. Maybe you thought of: Niki, Chanel, Coca Cola, Apple, Boss, McDonalds, Amazon, Pepsi, Virgin or Gucci. Whatever brands you thought of, I am confident none or few of them are small local businesses. 

These brands products and services have physical features and convey psychological signals that produce an emotional response in the minds of their customers and their wider audiences. 

So, what are common factors that give these brands such amazing top of mind recall? 

• Product quality

• Service delivery

• Perceived value

• Meaningful Purpose

Let us examine each of these in a little more depth.

Product quality

Refers to the attributes and characteristics of a product or service that meet or exceed customer expectations. When a brand consistently delivers high-quality products, it builds trust, loyalty, and a positive reputation.

Quality products not only satisfy customers but also differentiate brands from competitors. In a saturated market, offering superior quality can give a brand a competitive edge. Customers are willing to pay a premium for products that they believe are reliable, durable, and perform well.

However, maintaining high product quality requires a commitment to excellence throughout the entire product lifecycle. This includes rigorous quality control processes, ongoing research and development, and a focus on customer feedback. By investing in quality, brands can enhance their brand image, increase customer satisfaction, and drive long-term success.

Service delivery

 Effective service delivery is the cornerstone of successful businesses. It involves meeting and exceeding customer expectations through timely, efficient, and personalized interactions. Key components of excellent service include:

• Understanding customer needs: Actively listen to customers, identify their specific requirements, and tailor solutions accordingly.

• Empathy and compassion: Show genuine care and understanding for customers' concerns and frustrations.

• Proactive problem-solving: Anticipate potential issues and take steps to prevent them.

• Clear communication: Communicate effectively and transparently, keeping customers informed throughout the process.

• Exceeding expectations: The "under promise, over deliver" principle is a valuable strategy. By setting realistic expectations and then going above and beyond, businesses can build trust and loyalty.

Perceived value

Perceived value is a crucial concept in marketing that encompasses a consumer's subjective assessment of a product or service's worth relative to its perceived benefits and costs. This perception is influenced by a myriad of factors, including price, quality, brand reputation, and the overall experience associated with the product or service.

The Price-Quality Paradox:

One common misconception is that perceived value is solely determined by price. While price is undoubtedly a significant factor, it's not the only one. In some cases, offering high-quality products at lower prices, often referred to as "value-for-money," can significantly enhance perceived value. Consumers may be more inclined to purchase a product if they believe it offers excellent quality at a competitive price.

On the other hand, premium pricing can also contribute to perceived value. When a product or service is priced significantly higher than its competitors, consumers often associate it with higher quality, exclusivity, or prestige. This is particularly true for luxury brands that are often positioned in high-end locations like Fifth Avenue in New York City, Champs-Élysées in Paris, Ginza in Tokyo, or Bond Street in London.

Beyond Price: The Role of Experience and Perception

Perceived value is not just about price; it's also about the overall experience a consumer has with a product or service. Factors such as product design, packaging, customer service, and brand reputation can all influence how consumers perceive the value of a product.

For example, a well-designed product with premium materials and a sleek aesthetic can create a sense of luxury and exclusivity, even if the price is high. Similarly, a brand with a powerful reputation for quality and innovation can command a premium price because consumers trust that they are getting a superior product.

The Power of Perception:

Perceived value is a subjective assessment that is influenced by a consumer's individual preferences, experiences, and beliefs. Marketing and promotion play a crucial role in shaping these perceptions. Through effective branding, advertising, and public relations, companies can create a strong brand image that communicates the desired message about their products or services.

Key Elements of Perceived Value:

• Price: The cost of the product or service relative to its perceived benefits.

• Quality: The perceived level of excellence, durability, and performance.

• Location: 

• Brand reputation: The perception of a brand's trustworthiness, reliability, and prestige.

• Product design: The aesthetic appeal and functionality of the product.

• Customer experience: The overall interaction between the consumer and the brand, including customer service, packaging, and delivery.

• Marketing and promotion: The efforts to communicate the value proposition of the product or service through branding, advertising, and public relations.

By understanding the factors that influence perceived value, businesses can develop strategies to create products and services that resonate with their target audience and drive customer loyalty.

As a micro business you can achieve much for your business by incorporating some of this thinking into your service and build a brand that has recognition in your local area.