Brands Provide Information:
A brand includes information we use to understand the world and make decisions. As you develop your brand, you must determine what different types of information you will provide for the different audiences.
Brands Create Feelings and Beliefs:
A brand includes feelings and beliefs we use to understand and make decisions about your offerings. As you develop your brand, you must generate expectations that align with what your audiences feel and believe.
Brands Develop Over Time:
A brand is developed over time, and includes the full history of communications and previous experiences we have with a company and its offerings. As you develop your brand, you must consider how your brand will be perceived in the long term, and how you might change your brand in response to changes in the market.
Brands Are Perception:
A brand creates a perception of value. The price tag does not create that perception: it only confirms or contradicts the perception of value that the brand has already created in the mind of each customer.
Brands Make Decisions:
A brand is a decision-making shortcut that allows customers to consider or ignore an offering without investigating it fully.
Brands Are Critical:
A brand is critical in the crowded modern marketplace. This was not the case just a few generations ago. Without a strong brand, today’s entrepreneurs will have a very hard time competing.