Branding is an art, firms at several levels of development at grappling with. Its importance cannot be overstated as it leads to increased customer loyalty, pricing power in the market, motivated employees and reduced advertising costs. Marketing heads or company CEOs must ask themselves certain tough questions such as which customer problem their company is solving, or about the core values of the group. Companies must strive to building a proper brand pyramid which is a top-down principle incorporating the principle behind the work, followed by other important brand communication. The pyramid will be a five-step one with its core brand idea on top, followed by its product persona. Then come the emotional benefits, functional benefits and lastly the specific features and attributes. To set up such a pyramid, one needs to start from the key stakeholders such as its founders, top management and heads of customer-facing teams. A brand audit must be performed with them all to understand the key points that really matter. This business intelligence gauged will be crucial for any “current state” document to be prepared. The same will be discussed at the initial meeting. The brand pyramid needs to be agile, where components may be shifted as per current business requirements. It needs to be communicated to the entire company, but only after the key stakeholders have signed it off as official.

Source:https://knowledge.insead.edu/blog/insead-blog/how-to-build-a-brand-pyramid-8491

Uploaded Date:16 March 2018