Page 155 - 100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)

In practice

• Understand how the brand will be used. Is it to provide

reassurance, to enable a premium price, or to create a desire to
buy? Understand what benefits the brand offers customers, and
how reliable and trustworthy it is.

• Know what the brand means to customers, then deepen this

appeal. Ensure the tone of marketing is commensurate with the
brand values and target market.

• Identify how the brand differentiates a product from competitors,

to decide which attributes to emphasize.

• Conduct an audit of the brand to determine how strong it appears

to customers. This will reveal how the brand can be used in new
markets.

• Ensure there is sufficient investment in the brand, and

discover how the brand can be strengthened. This active brand
management will build customer value and loyalty.

148 • 100 GREAT BUSINESS IDEAS