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BUILDING A BRAND NAME
40,000 consumers were interviewed by Young & Rubicam & New York advertising agency giant to determine how a brand name is built.
RECOGNIZABLE BRAND LET'S YOU STAND OUT FROM COMPETITION.
The building of a successful brand occurs through a very specific progression of consumer perceptions.
DIFFERENTIATION
Without differentiation - the perceived distinctiveness of a brand -- consumers have no basis for selection or loyalty.
RELEVANCE
If a brand isn't relevant, (personally appropriate) to consumers, it isn't going to attract and keep them. There is a strong, positive correlation between relevance and market penetration. Together, relevance and differentiation represent "Brand Strength," an important indicator of future performance.
ESTEEM
If a business is successful in creating "relevant differentiation," consumers usually respond with a high esteem for the brand. Esteem is related to the perception of quality and increasing popularity.
KNOWLEDGE
If a brand has established the relevant differentiation and consumers come to hold it in high esteem, knowledge develops. Knowledge is much more than being aware of the brand; it also involves an understanding of what the brand stands for. Knowledge is not a consequence of media weight alone. Spending money against a weak idea will not buy knowledge.
RELATIONSHIPS
The relationships between these four measures reveals much about the current and future status of a brand. Strong, newer brands tend to show higher levels of differentiation, lower esteem.
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