Branding is the work done through advertising agencies to increase the image of brands. Its purpose is to generate Brand Equity, that is, the act of adding brand’s value, generating an approximation with its target.
For a long time, brands have been created to differentiate manufacturers, an easy way for consumers to be able to identify that a particular product was developed by a particular company. Therefore, the costumer can easily know the origin and quality of a specific product or brand.
Branding generates value to a brand, consolidates it in the market and stand out from competitors. A consolidated brand, which has a strong image in the market, has invested and/or invested frequently in advertising in Calgary.
UNDERSTANDING BRANDING IN PRACTICE
To understand more, nothing better than using some current examples. If we make a quick comparison in bags business, for example, we can find them with the most varied prices.
We can easily find a bag for $50.00, which probably cost about $30 to be produced. But what if this same bag were produced and had the logo of GUESS? The same bag could be sold for $ 300.00 while keeping the same cost of production.
If we stop to search further, we can find great brands like CHANEL and LOUIS VUITTON selling handbags in the range of $ 40,000.
In some cases the cost these large brands had to produce their bags are equivalent to the brands mentioned above. The status that a brand can bring to its target audience is something that can go further.
WHAT IS THE RIGHT MOMENT TO CUT ADVERTISING INVESTMENTS?
A brand should always be in the memory of its target’s audience, through advertising. When we look at big brands we can see they invest heavily in print ads, television commercials and are very present in social media. For that they are considered Top of Mind brands, which means, the brand that are in people’s mind when they talk about their business area.
For example, if I ask you to name FastFood brands in Calgary, you’ll probably think of McDonald’s, Burger King, Subway, and others. If I ask you when was the last time you saw any commercials or advertising these brands? Probably you will say that recently, as they invest heavily in advertising so that they continue to be remembered and continue to Top of Mind brands.
This is the great secret of Branding: never stop advertising, no matter the size that your company has or how consolidated it is.
If the advertisement stops, your brand will be forgotten and you will lose market space to your competitors.
Branding is something that takes a bit of time. After this time, investment and work, will begin to bring results. Your brand will begin to have an increasingly consolidated image in the market and (maybe) become a Top of Mind in Calgary.