Is a brand tangible or intangible?
|
It’s time to bring everything you’ve learned in the What Is a Brand? series together and develop your tangible brand elements. For a refresher, be sure to follow the links to read Part 1, Part 2, Part 3, Part 4, and Part 5 of this series.Branding questions? Create a new market research study, and get the valuable answers you need. As a market research company, we at AYTM are here to help you quickly and easily test brand ideas for your new company, product, service, or academic project. Learn more Show
 Your brand is a promise that helps to create consumer perceptions and expectations through its own unique personality. Your brand is represented by tangible elements that create a visual, auditory, and olfactory brand identity. For example, your brand logo, color palette, marketing materials, letterhead, signage, messaging, and so on are all tangible representations of your brand that make up its sensory identity. If one element doesn’t fit into the brand identity, it can damage your entire brand. As an example, consider Victoria’s Secret. This is a brand that chose a simple wordmark logo, but linked its brand identity directly with a specific color -- pink. Everything about Victoria’s Secret is pink. There is no doubt that this is a brand for women. In fact, the Victoria’s Secret brand became so closely linked with the color pink in consumers’ minds that the company successfully launched an entire line of Pink branded clothing and merchandise.Logos can also become powerful representations of a brand promise. What do you think of when you see the Playboy logo? As a powerful symbol of your company, your logo is a valuable asset that must be protected. The Playboy logo is a perfect example of a tangible brand element that has become an important business asset. You need to protect your valuable assets, including your logo. Develop brand identity guidelines so your employees, ad agencies, business partners, and so on clearly understand how they can and cannot use your logo.The key is consistency. Your brand elements must consistently represent your brand promise as well as consumers’ perceptions and expectations for your brand. If yours is a luxury brand and you produce homemade business cards using perforated paper and an ink-jet printer, you’ve damaged your brand perception in consumers’ minds immediately. Cheap business cards don’t match a luxury brand promise.In other words, the tangible elements of your brand are nothing without a brand promise and consumer perceptions and expectations to give them value. What did the Twitter logo and Twitter bird mean five years ago? Nothing. It wasn’t until people experienced the brand, believed the brand promise, and their expectations were consistently met that the Twitter logo gained meaning.What do you think the logo below meant to consumers before they had an opportunity to experience the brand and buy into the brand promise? What about the next logo shown below? This is a brand that most people would probably think means something quite different than it actually does once they experience it and learn how the organization’s actions and branded experiences affect consumer perceptions and expectations for it. Inconsistency is a brand killer.Ensure that your tangible brand elements accurately reflect your brand promise and consumer perceptions of your brand as well as meet consumer expectations for your brand. If you can say yes, my brand elements achieve those things, then your brand is ready for success!If you missed previous posts in this series, you can follow the links to read them:
Still confused about how to brand your idea?Create a new market research study right now on our Target Market page to test your concept(s) or schedule a 30 min. demo with an aytm expert today! Images: Victoria's Secret, The Rolling Stones, PETA Many companies don’t take advantage of branding because they don’t understand what a brand is. In terms of this misunderstanding, I believe companies fall into one of the two camps. It may seem obvious, but either the company is aware of he benefits of branding and its power, or it doesn’t know about or understand branding at all. Camp #1: Companies are confused about branding.If they hear the word “branding,” they assume it is synonymous with marketing. Usually, these companies are smaller and have been around for years. Camp #2: Companies understand they need branding but aren’t clear why.Most entrepreneurs fall into the second camp. The word “brand” comes up frequently in entrepreneurial conversations, and branding is a popular topic in the blogs and publications entrepreneurs read. And while they know it’s essential, they don’t see how it can benefit their company. They also don’t know how to start the branding process. Below are a few tangible benefits of branding.While one can feel branding is intangible, the results that branding creates are very real. As evidenced in big brands and from many of my clients over the years, branding helps companies create a unique perception in people’s minds and emotional connection with their target audiences — which impacts a company’s bottom line. More explicitly, branding helps businesses:
More tangible benefits? Branding also helps businesses:
In short, when you go through the branding process, it has a tangible impact on your bottom line, which is what business owners are looking for. Want to learn more about the tangible benefits of branding? We invite you to order the new book from Re Perez, CEO & founder of Branding For The People. Your Brand Should Be Gay (Even If You’re Not): The Art and Science of Creating an Authentic Brand. Visit yourbrandshouldbegay.com to learn more. Are brands tangible?A brand can be defined as a set of tangible and intangible attributes designed to create aware- ness and identity, and to build the reputation of a product, service, person, place, or organization.
Is branding a tangible or intangible asset?An organization's brand is an intangible asset, as well as the brands of any products they own. Other intangible assets include goodwill, accounts receivable, prepaid services, people, patents, trademarks, designs, and trade secrets.
Is a brand an intangible asset?Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets. Intangible assets exist in opposition to tangible assets, which include land, vehicles, equipment, and inventory.
Is brand identity tangible?Your brand is represented by tangible elements that create a visual, auditory, and olfactory brand identity. For example, your brand logo, color palette, marketing materials, letterhead, signage, messaging, and so on are all tangible representations of your brand that make up its sensory identity.
|
