PURPOSE
How a person expresses and presents themselves to the world says a lot about their intentions, personality, and other things, it is the same with brands. With the growth of social media platforms and awareness, propaganda is one of the most critical factors for a company to attract a positive impact from their customers. Today’s reality shows us that the quality of products or services alone can no longer ensure companies’ success. Todor once said that Brand awareness’ leads to the perception of quality, defining attributes, and finally to brand loyalty (2014). This proves that having excellent branding and a well-thought marketing plan can increase the company’s profit. Branding is fundamental for a good strategy; it helps since the significant noticeable details to the semiotics that enter our minds, influencing consumers to think about a product deliberatively, creating their brand knowledge, aka a linked memory. Language, signs, and symbols are tools that brands can use to communicate their story, advertise their products and make a deeper connection with their audience (Hedley, 2019)
The brand philosophy is vital to show their aims and goals to the outside world. A mission statement proclaims corporate purpose indicating what the organization intends to accomplish, identifies the market(s) in which the firm intends to operate, and reflects the philosophical premises that guide actions. (Ireland and Hirc,1992). The new generation cares about where they buy their products from, and a good example is Gen Z which seeks for transparency and identification. They want to be clients of a brand that relates to their purposes and actions towards the environment, inclusive, sustainable, and friendly. In 2020, Lalaounis analyzed that we usually consume brands whose personalities and values correspond to our own personalities and values. From the consumer choice perspective, higher brand equity typically translates into a greater purchase probability. We tend to choose the brands we hold in high esteem and are more willing to pay a premium price. (Douglas, 2013). For this reason, it is essential nowadays to have an aligned branding and marketing plan and positive brand knowledge for customers to connect. A brand’s visual identity is vital to show how they transmit its emotions and personality and how they tell its story.
REFERENCE:
Douglas, Evans (2013) Psychology of Branding, Nova Science Publishers, Incorporated ProQuest Ebook Central,
Ireland, R. D., & Hirc, M. A. (1992). Mission statements: Importance, challenge, and recommendations for development. Business Horizons, 35(3), 34-42.
Hedley, A (2019) The semiotics of branding. https://medium.com/tilt-brand-insights/the-semiotics-of-branding-568cc32dbf99#:~:text=Semiotics%20create%20deeper%20meanings&text=Audiences%20identify%20with%20traits%20that,message%20through%20your%20visual%20identity.
Lalaounis, Sotiris T.. (2020) Strategic Brand Management and Development: Creating and Marketing Successful Brands, Taylor & Francis Group
Todor, R. D. (2014). The importance of branding and rebranding for strategic marketing. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 7(2), 59.