3 Things About Building a Brand that you need to know
There's a formula
How much equity your brand collects is directly proportional to the investment you place into it. If you want to have a brand that is on the top of everyone's mind, then you need to proportionally invest time, intellect and money into building that brand up. The formula for growing a brand is simple - increase mental availability and physical availability.
Mental Availability.
In the previous section I mentioned that you need to invest intellect into developing a brand. That isn't what mental availability is but you will need a considerable hunger to learn and the capacity to understand abstract concepts to be able to understand menntal availability. Here goes - the human brain doesn't remember discrete information - it's too energy consuming to do that. Instead, the human brain remembers patches of continuous information known as memory structures.
A memory structure is a bundle of - well - things that your brain has clumped together in a way that it thinks is useful for the reward/threat circuit. For example, you will recall McDonalds for the Golden Arches or the big yellow M, an image of Ronald McDonald, a BigMac or Chicken McNuggets. In this lot, were I to include a McSandwich, it wouldn't be too far of a stretch for you to believe that was an actual product offering (it isn't, sorry Ronald). There's an abstract structure within your mind of what constitutes "McDonalds-ness" and the breadth and depth of that structure is mental availability. The bigger the structure and easier the recall, the more mental availability you contain.
Physical Availability.
Thankfully, Physical availability isn't as complicated. In short, If you think of it, can you buy it? Do you have to drive 45 minutes to get a Big Mac or can you perhaps, get on a mystical network of electronic devices and have one appear at your doorstep 20 minutes from now? The reason why this is a measure is because it reduces the barrier to purchase. Think about it - it doesn't matter how strong your mental availability is if customers can't buy you.
Now put these things together.
You're in people's minds, you're at arms reach, now all you have to do is to make sure you stay there while finding new people to work yourself into the minds and arms of. Which brings us to next week's topic - Market Penetration.
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Dhyresh Mendis
is a Graphic Designer specializing in Brand Identity Design. His love for structures and systems has sent him on a journey to understand the fields that Identities support at great depth - Marketing and Brand Building.
There's a formula
How much equity your brand collects is directly proportional to the investment you place into it. If you want to have a brand that is on the top of everyone's mind, then you need to proportionally invest time, intellect and money into building that brand up. The formula for growing a brand is simple - increase mental availability and physical availability.
Mental Availability.
In the previous section I mentioned that you need to invest intellect into developing a brand. That isn't what mental availability is but you will need a considerable hunger to learn and the capacity to understand abstract concepts to be able to understand menntal availability. Here goes - the human brain doesn't remember discrete information - it's too energy consuming to do that. Instead, the human brain remembers patches of continuous information known as memory structures.
A memory structure is a bundle of - well - things that your brain has clumped together in a way that it thinks is useful for the reward/threat circuit. For example, you will recall McDonalds for the Golden Arches or the big yellow M, an image of Ronald McDonald, a BigMac or Chicken McNuggets. In this lot, were I to include a McSandwich, it wouldn't be too far of a stretch for you to believe that was an actual product offering (it isn't, sorry Ronald). There's an abstract structure within your mind of what constitutes "McDonalds-ness" and the breadth and depth of that structure is mental availability. The bigger the structure and easier the recall, the more mental availability you contain.
Physical Availability.
Thankfully, Physical availability isn't as complicated. In short, If you think of it, can you buy it? Do you have to drive 45 minutes to get a Big Mac or can you perhaps, get on a mystical network of electronic devices and have one appear at your doorstep 20 minutes from now? The reason why this is a measure is because it reduces the barrier to purchase. Think about it - it doesn't matter how strong your mental availability is if customers can't buy you.
Now put these things together.
You're in people's minds, you're at arms reach, now all you have to do is to make sure you stay there while finding new people to work yourself into the minds and arms of. Which brings us to next week's topic - Market Penetration.
Dhyresh Mendis
is a Graphic Designer specializing in Brand Identity Design. His love for structures and systems has sent him on a journey to understand the fields that Identities support at great depth - Marketing and Brand Building.