Understanding a brand promise – and how to develop one
The brand is the most important asset of a company when you look at it from a marketing point of view. Few things are as valuable as a well-recognized brand in order to bring new customers to our business and maintain the ones we already have.
It is true that Neuromarketing has shown us over the past few years that customer loyalty is not what we thought and the way that a client reaches a purchase decision is more complex than just offering a quality product. This is why the brand architecture is so important for any company, big or small. Twelve12 knows the importance of maximizing your brand’s value and being one of the best Marketing companies in Orange County doesn’t come easy, it takes time and effort and a lot of experience to build up successful brands.
A very important part of the brand architecture includes brand valuation model techniques in order to maximize the shareholder value of a brand or family of sub-brands. A brand value goes beyond the perceived value and there are three main approaches of brand valuation.
If you go to a random branding agency in Los Angeles, you will find out that the most common technique is the cost approach, this methodology is related to prices only, how much are clients willing or can afford to pay for our brand, compared to the other brands’ cost and the real cost of our brand. Sometimes the final figure is a combination of some or all variables that are present in this approach.
Branding in Orange County also includes the market approach, in this technique, marketers evaluate a market comparison and the estimated value of similar well-positioned brands present in the same market. The comparison is based on every aspect of the product, usefulness, technology, price, etc.
And one of the most appreciated methods of brand valuation performed by Orange County branding services is the income approach. This is a more extensive and complex way of valuation, this one measures the value of the financial benefits received by it. In a way, this method has a high importance regarding decision making when it comes to the future of a brand or a family of brands.
From my point of view, all three approaches are important and provide different information about a brand that is invaluable for a company.
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