A brand is a mixture of tangible and intangible benefits, which if properly managed, can create value and lead to preferential choice, not only from customers but also from other key stakeholders (employees, investors, partners). Building a strong brand is a complex task. It is about creating value through the provision of a compelling and consistent customer experience that satisfies customers and keeps them coming back. When a company creates this type of preferential choice and loyalty, it can build a strong market share, maintain good price levels and generate strong cash flows. Building a brand starts with a clearly defined and persuasive value proposition - a compelling offer that appeals to potential customers. To do this, a company must develop a strong understanding of who their potential customers are, what they value, and how the products, services and internal resources should be optimised or configured to deliver this value. Furthermore, the company must develop the appropriate capabilities and resources (staff, culture, skills, infrastructure, partnerships, etc.), which must be built and aligned to support, deliver and reinforce this value proposition.

Building a strong Brand

There are four steps of building a strong brand. These are as follows:

1. Ensure identification of the brand with customers and as association of the brand in customers’ minds with a specific product class or customer need.

2. Firmly establish the totality of brand meaning in the minds of customers by strategically linking a host of tangible and intangible brand associations with certain properties.

3. Elicit the proper customer responses to this brand identification and brandmeaning.

4. Convert brand response to create an intense, active loyalty relationship between customers and the brand.

These steps represent fundamental questions that customers can ask about brands as follow:

1. Who are you? (Brand identity)
2. What are you? (Brand meaning)
3. What about you? (Brand responses)
4. What about you and me? (Brand relationship)