Brand Development

In: Business and Management

Submitted By AdannaSargeant
Words 2052
Pages 9
“Your brand is what other people say about you when you’re not in the room”
Jeff Bezos – Founder, Amazom.com

Introduction

What is Brand Development and why is it important? Simply explained, brand development is the process of improving a brand or improving customers’ knowledge and opinions of that brand. Branding is a vital and essential element for marketing to create value and connectivity with audiences. Customers do not simply purchase services and products purely on functionality, lowest price or that it is the most reasonable choice above all others, they do so because they love and trust certain brands which over time have become an irreplaceable necessity to their lives. A high equity brand gives its owner many advantages. In addition to the obvious benefit of driving market share, a strong brand can command a price premium, augment customer relationships as well as boost stock prices. Customer generated content is the easiest marketing method to build trust for your brand. When your customers are creating content for your brand, such as positive online reviews, case studies, testimonials, contests, social shares and other forms of participation, you not only build trust with new customers but you empower your best customers with the ability to be a crucial part of your branding. Keller's Brand Equity Model, also known as the Customer-Based Brand Equity (CBBE) Model illustrates four critical steps that one should to follow in order to build and achieve strong brand equity. The model was developed by Kevin Lane Keller, a Marketing Professor at the Tuck School of Business at Dartmouth College in the United States of America in 2001. As such, the aim of this paper is to explore the four key steps of the Keller Brand Equity Model so that we are able to understand how a brand can be successfully developed.…...

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