In order to accelerate the building of a brand, you must shape how customers think and feel about your product.
Must be able to build the right type of experiences around your brand, so that customers associate positive feelings and perceptions about it.
There are 3 Customer-Based Brand Equity key levels encompassing 5 building blocks that further help with brand development.
It all adds up to Brand Health, as expressed through the in-market competitiveness or strength of the brand in the context of pricing sensitivity and brand substitutability.
Research your market to gain a thorough understanding of how your customers see and feel your brand, and explore whether there are different market segments with different needs.
Identify how your customers decide between your brand and your competitors' brands. And how well does your brand stand out at key stages of this process?
The Promise of Value
Performance and Imagery
The experiences that your customers have with your brand come as a direct result of the product's 5 performance elements in terms of how well your product meets your customers' expectations.
Imagery refers to how well your brand meets your customers' needs on a social and psychological level; which can be met directly, from a customer's own experiences, or indirectly, with targeted marketing, or word of mouth.
Take both performance and imagery into account, and create a "brand personality."
Your product must meet, and ideally exceed your customers' expectations to build loyalty.