What is a strong brand?
Is a brand strong because everybody can spontaneously name it, recognise the logo or hum the tune of the commercial? Or is it rather about the product’s quality and the good quality/price ratio?
There is no doubt that both are important, but they are only part of the story. These days, consumers expect more from a brand.
Strong brands are brands that are relevant: they add value to the category; they are distinctive, unique as well as reliable and credible.
In addition, consumers must be able to relate to the brand values, to identify with the brand, to be willing to have an emotional connection with the brand.
But it doesn’t stop there. A really strong brand has an impeccable reputation, looks beyond its own profit and expresses involvement with society.
Why are strong brands important?
These days, it is more important than ever before to monitor the strength of your brand. Why?
IMPLICIT FAITH IN BRANDS IS NO MORE
Today’s consumers are more alert, more critical and more conscious than before, not only due to the economic crisis, but also because they are much better informed.
They often opt for private brands and are less willing to pay extra for a well-known brand.
DISRUPTIVE BRANDS TURN EVERYTHING UPSIDE DOWN
Disruptive brands follow their own rules, shake up the market, thereby changing the way consumers look at established brands. Famous examples include Über, Spotify, or Airbnb.
Brands such as Primark, Action, Tesla, One + or Netflix, … also constitute points of reference in their sector when it comes to price, durability, affordable luxury, entertainment, …
AND EVERYBODY COMMUNICATES
The explosive growth in communication channels and possibilities leaves brands more vulnerable. The days when the brand manager was in charge of brand communication are definitely over. Just consider the carefully constructed market image that is completely undermined by negative tweets that are shared by a large number of people....