This is a guest article contributed by Richard Baker*.
Unlike most words in Webster’s dictionary, there is one word that has multiple definitions depending who you speak with. That word is “Brand”. Simply amazing given the word “Brand” began simply as a way to tell one person’s cattle from another by means of a hot stamp iron.
In fact, I would ascertain there is no clear cut definition. Personally, I define it as “Your Brand Is Your Identity”. It is who you are and what you represent to your customers by way of your promise, point of differential and personality.
Though the word “Brand” may have many differential meanings, there are 3 facts that cannot be questioned which business must recognize:
- The Brand is business’s most valuable asset
- A brand is unique that cannot be copied
- A successful Brand is timeless
Having defined your Brand strategy, there are 4 core elements (4C’s) it must exhibit:
- Confidence: “Feeling of trust”. If consumers lose confidence in your brand, the trust they placed in your hands goes with it.
- Competence: “Standardized requirement for your brand to perform its specific task”. Does your brand live up to its promise? Is it consistent?
- Continuance: Is your brand evolving to keep up with changes in the market?
- Commitment: “The act of engagement”. Are you and your employees committed to your Brand?
An example of a very successful brand that has withstood the time of change, and exhibits these core elements:Tabasco Sauce. So, does your brand exhibit the 4C’s?
Author: Richard Baker is Chief Brand Strategist for Baker Branding – an integrated and engaged marketing service who assist business in achieving a greater ROI through the power of their most valuable asset; their brand.www.bakerbranding.ca
A very intelligent and informed definition… particularly given people in Canada walk around upside down with their feet magically attracted to the planet’s surface! ☺
One issue marketers should remain cognitively connected to is “value”… this is the REASON for paying any premium for a brand, and the commercial justification for pursuing brand equity.
You might also be interested in the definition of a brand found at…
http://www.launchengineering.com/Brand_Management.htm
A brand is an emotional bond between customer and service provider.
Note: All products are actually services.
My definition must be one of the many thousands that you mention. And as you indicated, every definition is valid from a certain perspective.
As is yours.
My only concern with your 4 Cs is that it seems to assume that a brand can have just one product category.
Or did I misinterpret your article?
Very interesting definitions. Thanks for your comments Rajendra.
Great definition and absolutely succinct. Most professionals talk about the brands the control and know without understanding the historical hierarchy of BRANDING. There are three levels prevalent in today’s market space. TRADE MARKS , which are mere IDENTIFIERS, markers marks. BRANDS, that deliver a consistent price/performance ratio and provide consumers with self-esteem. These are SIGNIFIERS. Then there are the few, very few, TRUST MARKS that transcend mere feature, benefits, imagery and communications to become self selecting in their loyal customers minds. These are SATISFIERS.