A Brand is the is created from the agreement of between the Company, the Consumer, and Product Performance. Where these three areas agree, a brand is created.
A brand starts with three things: A company, the consumer, and a product or service. The company make a guarantee( promises of product quality, store experience, and even how you might feel having their product). The consumer has expectations based on past experience, advertising, word of mouth, etc. And thirdly, the product or service performs as expected, or not.
Listing the out all parts of the Company guarantee, the Consumer expectations, and the Product performance, the brand is where all three match. Here is an example:
- Company Guarantee: our products are durable, our prices are the best, our product is easy to use, our staff is knowledgeable
- Consumer Expectations: their products are tough, the was the best option for this price, the directions seem simple, the staff are really young and ditzy
- Product Performance: it survived a 5 ft drop with no damage, the one I bought is $30 less than my friend’s, using the product is difficult even with directions, the staff helped me find what i needed
Now let’s see what matches across all three categories.
1. Company promises Durable products, Consumers think their products are tough, and in actual use the products work fine after a 5ft drop. 3 matches = BRAND QUALITY of TOUGH DURABLE PRODUCTS
2. Company promises great prices, Consumers feel they are a good product for the price, The price is 30$ less than the competition. 3 matches = BRAND QUALITY of GREAT PRICES
3. Company promises easy to use products, Consumers feel the directions are pretty simple BUT Using the product is difficult even with the directions. 2 out of 3 matches means this quality will not become a a part of this brand.
4. Company promises knowledgeable staff BUT Consumers feel the staff is young and ditzy EVEN THOUGH The staff helped them find what they needed. Again only 2 out of 3, so this quality doesn’t become a part of this brand. And this example shows that sometimes belief of a brand can be more perception than actual reality( a company still has to address that perception )
Those qualities that match across all three categories become a part of the Brand.