How To Build a Leadership Brand
Are you ambitious to build a leadership brand for your business? Do you know what you will need to do to achieve this? In this article we explore how to build a leadership brand:
Leadership brand positions are built over time in a very specific progression through four consumer perceptions: differentiation, relevance, esteem and knowledge.
These are the four different consumer perceptions a brand needs to progress through:
1. Differentiation
This is the foundation stage and it is when great brands are born. Differentiation is the brand’s ability to stand apart in the market and is the extent to which it is perceived as being unique, different and distinctive. Without this foundation, a brand will not survive as the market evolves.
2. Relevance
This is about how appropriate the brand is to the target customer’s wants and needs. Without broad relevance, a differentiated brand may be a niche brand.
Brands that achieve high levels of both differentiation and relevance can lead or even define a category and thereby strongly contribute to operating income.
The next two foundation blocks to high brand equity are esteem and knowledge, which in combination define brand stature. Leadership brands excel in both brand strength and brand stature.
3. Esteem
This is about how good a target audience feels about a brand and comprises quality and popularity as the critical dimensions. Being held in esteem helps a business cope with downturns and bad times.
4. Knowledge
The market knows and understands what the brand stands for, what the company’s products and services are and knows the positioning, promises and values of the brand. This is the result of all communication and experiences that the market receives over a period.
Over to you now. Have you been working on any of these 4 areas to build a leadership brand? Tell us in the comments below.
Source: business-achievers.com
