A brand consists of a set of enduring and shared perceptions in the minds of consumers. The stronger, more coherent and motivating those perceptions are, the more likely they will be to influence purchase decisions and add value to a business.
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People enter into the strongest attitudinal relationship with a brand, bonding, when they believe that it is the brand that delivers best on the most important criteria in the category. People who are bonded to a brand are typically at least 10 times more likely to buy it, and, as a result, there is a strong relationship between the proportion of people bonded to a brand and its market share.
If people are to develop a strong attitudinal relationship with a brand over the long term, they must believe that it offers some advantage over the competition. Advantage may take many forms, and is often driven as much by experience as by what brands suggest through marketing communication. To be successful, each brand must identify and magnify its unique benefits.
Purchase, and critically, repeat purchase rely on a good product or service experience. For people to progress from relevance to performance, they must believe that the brand fulfills their basic expectations of product performance.
The step from presence to relevance is an important one. To reach the relevance level, people must not reject the brand on account of its price (which may be perceived as too expensive or too cheap), its lack of availability, its ability to meet their needs, or the identity and status (or lack thereof) that it conveys.
Consumers who reach the presence level are actively aware of the brand when they think about the product category, either because they've tried it (or know someone who has) or because they've become aware of what the brand stands for through some other means. Presence is a fundamental driver of brand performance. People must know what a brand has to offer before they will consider it for purchase.
But what drives future brand success? Click here to find out.