Components Of Branding And The Tests A Brand Name Must Pass

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Components Of Branding And The Tests A Brand Name Must Pass

According to Branding Mag, apart from being memorable, a good brand allows customers to form their expectations from the company. A brand allows the company to clarify to customers what makes it a better choice and makes it possible to distinguish itself from the competition.

Some Important Components of Branding

Modern marketers agree that branding is a continuous process of identifying, forming, and managing the company assets and actions to shape the perception of the business and its products and services in the minds of the stakeholders.

Continuous process: The process of branding never stops because the brand must always strive to evolve and remain relevant to the constantly-changing people and markets.

Identifying, creating, and managing: Branding is not a flash in the sky but a structured process requiring companies to create an identity they want to project, think of a brand strategy to support that identity and manage everything to establish that positioning.

Assets and action: The company has to translate the positioning into assets like products, advertisements, content, visual identity, etc., and actions to build up the desired perception in the minds of the stakeholders.

Perception: The association of an individual regarding your brand as a result of what you do in the branding process is perception. Marketers also call it brand reputation.

Stakeholders: While most people think brands are for only customers, companies need to build a perception in the minds of other important stakeholders like employees, business partners, suppliers, financiers, shareholders, and more.

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Critical Tests a Brand Must Pass to Be Successful

Thinking of a distinctive and relevant brand name is not an easy task. It requires imagination, creativity, and hard work to understand customers, their concerns, and their expectations. You also have to take the market and the competitor activity into consideration. You can take the help of an online business name creator to develop brand names appropriate to your business.

A brand name must be original and unique because it needs to stand out in the clutter and make a positive impression on the target audience. An unusual name but one that has no meaning or is not relevant to the customer may not be the right for the business. Ideally, the brand name should be short because short names are easier to pronounce, spell, and recall. If the name is cool and phonetically pleasing, all the better! The name must be appropriate to the company and its products, and reflect its values. The company must be able to extend the product range and its area of operations with a flexible brand name. The company must also ensure it is not similar to any existing brand and can register it. It helps to have the domain name available.