You can’t buy a Mercedes for the same amount of money as Fiat. But what if Fiat is the same as Mercedes in terms of technology and quality?
You can’t buy a Mercedes for the same amount of money as Fiat. But what if Fiat is the same as Mercedes in terms of technology and quality? Would anyone buy it? No. Because it’s Fiat. While Mercedes is the brand that has been enjoying high position in the super-premium segment and whose history dates back to 1843; its symbol is the three-pointed star just celebrating 50 years of Mercedes AMG – which stands for top performance, exclusivity, efficiency and pleasure from dynamic drive. If you still think that at the beginning of the investment path logo is enough and you neglect building a strong brand you make a mistake and you doom your business to a false start. Because a strong brand is the one for which customers are willing to pay you much more than your competitors. In addition to the product itself, they also buy a new image of themselves. If they don’t “smell” it – they don’t buy it.
Branding is just the beginning
The investment process starts from branding. This trade term covers the process of co-building of the product and the brand based on the knowledge of the market, economic tendencies, cultural and strategic trends, design and communication management as well as the image at the very end. Only then the graphic designing competence gets in the game. And just think that investors start from this very final aspect. The most frequent mistake of new investments gets crashed – like Titanic – into an invisible mountain of a strong brand of your competitors. Over the water surface there is a logo but underneath there is a huge fundament – namely strategy.
Strong brand that is what brand?
Coherent in many visual and communication aspects. Consistent in its actions – product development, establishing and maintaining relationships with customers. Involved – it changes the world to be better. Unique – it’s difficult to replace it. Authentic – honest and trustworthy, direct – if it is supposed to be the economic and sophisticated brand – when it climbs to reach premium markets.
What shall we get as a reward?
Loyal consumer is capable of forgiving brands even big mistakes. Has the Volkswagen’s lie affected the buy-or-not decisions of the consumers who had been driving those cars for years?