Brand power

Posted by admin on Feb 2, 2010 in Academy | 0 comments

“What’s in a name? That which we call a rose by any other name would smell as sweet.” What’s in a brand? If we put a product under a different brand name would it still be just as good?

From very early on in life, we are susceptible to company branding. It can start as early as childhood. Sure you could get the no-name brand doll for Christmas, but what you really wanted was the original Barbie or G.I. Joe in all their marked-up brand name glory. In high school I could decide to get three pairs of regular pants for the cost equivalent of one super cool brand name pair. In the end, the power of the brand and the status it could give me won out. So there I was with my one pair of overpriced pants thinking that I was the lucky one. I wonder how I ever could have thought that way.

Companies spend huge amounts of money building up a brand name. They want the customer to perceive their product as being superior or having extra value. Companies want to associate their brand and subsequently their product with positive impressions in your mind. The Olympics are a good example of a brand giant. The five rings are recognized in much of the world. Even more than recognition, brands have a way of tying themselves to feelings and memories. Seeing the five rings can illicit emotions, feelings, and memories. For some, they are associated with excitement and nationalistic pride. Other people may see the Olympic symbol and remember a particularly special Canadian moment at the games. All this can occur simply by the power of the brand and logo.

Companies build up their brand by seeking lots of publicity, sponsoring events, crafting a catchy slogan or maybe even a jingle. How often are you watching TV or listening to the radio and Product X is being advertised and by the end of the commercial you can recite the jingle or identify the logo? This is all done intentionally by companies so that you will remember their product. Essentially, brand recognition gives the company credibility.

The next time you’re thinking, ‘I could go for a burger,’ and then almost involuntarily hear the McDonald’s tagline “I’m lovin’ it,” or see the golden arches in your head, know that brand power has struck again. Doesn’t it make you wonder what you’re really paying for?