Understand Identity before you jump to valuing brand equity
Published by Thriftbooks.com User , 27 years ago
In a wicked world, where brands as the world's most valuable property rights, get valued by accountants before understanding why consumers value them (would consumers really miss anything if your brand didn't exist?), Randazzo comes as a ray of golden light - or should I say some much needed fresh air?... Explaining both how deep the myths are that the best ad agency creatives build into branding, and how these become an inventory of coded associations in consumers' minds. If I (as consumer) know a brand well, I probably id with it in at least 20 ways: some personal, some mythological/cultural, some related to its joy of use, service integrity, and leadership capabilities of the company behind the brand. Before you buy up a brand, you need to play with this jigsaw of identities - to build (commuication of) a beautiful mental picture not one of contradictory promises; to decide which ids connote what, which need to be phased out or newly planted in if your brand's leadership meanings are to be those you intend in customers' minds and lives; to give you the window of opportunity to be glocally meaningful (different ids for different folks) wherever your global market is. If you would like to join an e-mail group discussion on how to make the most of your brand's identifying relationships, please contact me .......................... Chris Macrae, editor of Brand Chartering Handbook & MELNET www.brad.ac.uk/branding/ E-mail me at wcbn007@easynet.co.uk
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