Branding

Why a brand?

Drayton Bird 2014

A right mouthful about brands

Brand equity describes the value of having a brand based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well-known name, as consumers believe that a product with a well-known name is better than products with less well known names.

How a strong brand helps you

• You make more money by selling more at the same price

• You make more money by selling the same volume at a higher price

• You get more repeat purchases

• Customers stay with you longer

• Their lifetime value is greater

• Economies of scale mean you can undercut your competitors.

• You can pay more to get or keep a customer

• People forgive your mistakes more easily. They trust you to put things right.

How to live forever

• Things can be copied

• Brands can’t

• “A brand is not a process, a product or people. It can live on after processes and products have changed – and people have died”

-Jeremy Bullmore

• Companies are made up of people

• People die. People move on.

• Working practices change

• But how do you “copy” a brand?

• Impossible: its qualities are in the mind.

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