The Essential elements of a successful Branding encapsulate and constantly correspond with their target buyer and other stakeholders are referred to as the Three Brands Ps: Promise, Positioning and Performance. The glue that sticks those three core elements together is your communications. Consistent, timely and well-planned marketing communications will raise awareness of your brands’ promise, position your brand correctly and encourage your target audience to try-out and experience the performance in India
They should revolve around your target consumer and aim to provide information about the benefits of your product or service. Your communications strategy should also encourage the consumer to engage with your brand, not just at a cognitive level but at an emotional level too. In other words, your brand should be human and likeable.
These three essential elements provide a basis for structure a successful brand and can also become the litmus test for your organization’s branding efforts moving forward. Refer back to them to assess whether you are creating the brand experience you set out to create, and whether it continues to be relevant.
The Three Brands Ps
Your brand be a promise to your customers. It’s your claim that you offer a solution to their needs or problem, and that they will gain benefit by buying your goods or using your service.
Your promise will offer added value and shape their expectations. So promise what you can realistically deliver. It’s worth noting that customer satisfaction is the difference between expectations and the experience of your brand. Your aim is to keep that gap between the two as small as possible.
Positioning be how your brand is perceived by your target consumer and other stakeholders. In other words, how your brand is positioned in their minds. Think about Waitrose, M&S and Tesco’s and your perceptions of each supermarket (good quality, expensive, cheap?). It is their consumer who judges the level of quality or their price being expensive or cheap.
So it’s entirely key that you have a clear understanding of your target consumer. Identifying who they are, how they think, what values and motivations they have and what media they use to access information should shape both your positioning strategy and your communications strategy..
This is about whether you fulfill your promise. Over time, a consistent and reliable brand performance builds trust, and trust leads to brand preference. Brand preference indicates a form of relationship in which the psychological benefits of ownership are preferred to other brands by the consumer. The consumer benefits from this relationship because his/her preferred brand is;
- reducing the level of associated perceived risks,
- reducing the decision making time and
- providing reassurance that he/she is receiving added value.
There are many other factors to consider when building and communicating your brand and, if you get the foundations right, you will be able to build your brand on a solid structure. When these 3 brands Ps (Promise, Positioning and Performance) support each other and work together, they can create a strong, consistent brand message over time.