Nowadays, it is quite fascinating how companies from different industries try to constantly outdo one another. If you are not observant enough, try checking out the all the creative advertising and branding strategies they use to their advantage just to gain at least a few significant steps ahead from their competitors. Its a constant battle on who gets to most patronage from consumers, which will equate to a bigger market share that would ultimately mean generating higher sales.
The art of advertising and branding is quite complicated than an ordinary person would normally think. All concepts are painstakingly developed and deliberated, researches and endless surveys are made to determine the markets current preferences. This is all geared towards making an intelligent forecast and calculation on the consumers reactions to certain products, and what would be the most effective approach in introducing such product in the market. In advertising and branding, nothing can be attributed to simple stroke of luck or an instant, phenomenal success. Everything is a product of grueling work. That is why advertising think tanks employs an elite team of highly creative people to conceptualize and ensure a certain products success in the market.
So how can one correctly gauge the victory or failure of any advertising and branding effort? Well, its quite simple, really. You can try showing a certain image, logo, color combination, a pattern or a tag line to a number of consumers, and if they are able to properly identify the product behind it, you one can say all marketing efforts have achieved a certain degree of success.
The very first key role of advertising and branding is generating awareness and recognition of a certain product or service. The second most important thing is to actually condition the minds of consumers as to what image you would want them to associate with the product, whether its cheap, durable, dependable, etc. This is the intrinsic value of advertising and branding and can be a little harder to determine. For example, if you mention toothpastes, what brand would first come to mind to consumers? Or if you ask for a most wonderful vacation hotspot, what would be the first word they would be likely blurt out? This does not necessarily mean they have actually been to that particular place, its their perception of the place for what they have seen and heard that made them believe its actually the top choice.
However, on the other side of the coin, once having established a very strong and powerful brand name, companies will find it hard to step away from its shadows. If in the future, the company would want to project a new image, or take on a different market position, it can be a difficult task to veer away for the identity that have been established. This would take another series of powerful marketing effort to transform the image of the product. It all whole new ball game, and a very expensive one at that. This is the beauty of advertising and branding. It is certainly the most powerful marketing tool that can make or break a company.