Brand Proposition and Brand Statement
A core component of brand development is the development of a brand statement. Brand statement is often referred to as brand proposition. A brand proposition should clearly identify the benefits that a consumer derives out of your brand. While a brand proposition is often focused only on the benefits that a brand offers, a good brand proposition should also include the Unique Selling Proposition (USP) which includes benefits that no other brand can provide.
How Do You Improve Brand Proposition?
A good brand proposition is simple and easy to understand. Remember, a brand proposition is a promise that a brand makes and it’s critical that brand’s promise is easy to understand, engaging, unique, relevant (to the target audience), and consistent. It should not only address the audience’s current needs but also their future aspirations from the brand. A good brand proposition should be able to connect with its audience on an emotional level. A strong emotional connection can create valuable brand equity and fierce brand loyalty.
How Important is Emotional Connection?
Scuderia Ferrari is a great example that shows what a strong emotional connection can do. The Ferrari retail division (US$1.5 billion revenue) capitalizes on the strong emotional connection that the Ferrari brand has with its fans. Ferrari Store retail outlets operated by the retail division are a masterpiece of branding and marketing sophistication. For example, in every Ferrari Store, cordoned off by a steel rope, there is an example of the Ferrari team’s single-seater Formula One race car. At the entrance visitors are welcomed by the roar of a Formula One engine. These audio-visual elements quickly establish an emotional connection with the visitor and that’s all the marketing and advertising Ferrari needs.
How About Secondary Brand Proposition?
Secondary brand proposition is defined as the expression of your brand promise without using your brand statement or products. A good marketing strategy should harvest brand equity by deploying marketing campaigns primarily based on secondary brand proposition. Nike is a great example of how to incorporate secondary brand proposition in your marketing strategy.
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