Brand Building

Developing a distinctive, world-class brand

A successful brand can command a substantial price premium, a result of the trust that a brand can generate. Recent research in the UK has shown that in a large number of instances consumers would be prepared to pay 30% extra for a new product from a trusted brand than for an unnamed one. Customers are essentially paying for reliability, speed or other intangible attributes they associate with the brand.

The concept of brand identity is also valuable, as it reinforces the product’s appeal, resulting in more new customers, more repeat customers or existing customers buying additional products. Another advantage of a strong, differentiated brand is that businesses can launch profitable new products successfully and speedily by exploiting the popularity and strength of the established brand.

Brands matter, but they ate essentially fragile and need to be developed carefully so that they benefit customers and the business – this toolkit explains how.

Length: 11 pages

Contents:

The Benefits

Action Checklist: Brand Building

• Understand the pillars of successful brand building
• Develop your business brand
• Position the brand 

Avoiding Problems – this section provides practical techniques to avoid problems and overcome potential pitfalls when building your brand.

Key Questions

Dos and Don’ts

Things You Can Do

• Champion your business’s community involvement
• Decide the brand’s purpose
• Emphasise the brand’s values
• Developing the brand
• Involve customers
• Champion your brand and differentiate it from competitors
• Minimise barriers to employee contributions
• Make effective use of market research
• Maintain a clear, practical understanding of competitors
• Use the brand to guide decisions 
• Using technology to differentiate the brand and build the business 

Further Action

Further Information

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