Branding can create strong pillars for your organisation. Be it an MNC or a startup working in a small office space, nurturing a brand has a huge impact on your business.
Company should have a strong memorable brand to cut through the noise of the world full of ads.Solid branding can reward you with pricing power, customer loyalty, lower advertising costs and inspired employees.
Brand pyramid is an important tool that gives a clarity on what the company wants to be, who it serves, why, how it should make customers feel and what the company’s core values are.
It is made of five main components or sections that help to analyse the brand .
Features and attributes: This describes what the product is designed to do and how it does it. Different contents and benefits that customer will get from the product.
Functional benefits: The purpose is to select functional benefits that matter most to customers and support a strong position relative to competitors. This section helps provide clarity about the customer problem the product tries to solve.
Emotional benefits: How do customers feel after using the product? Customers aren’t just interested in your product features. They want your product to make them feel a little bit better. For that they want you to tell them a story.
Brand personality: If your brand were a person, how would you describe him or her? The values that are important to your company.it is like giving an idemtity to your brand with which a customer can interact . if its playful, conventional , adventurous or caring.
Brand idea: Your brand essence, or the underlying reason why customers care about your brand. For example, Apple’s brand essence is “empowering people through technology”. Brand essence is the promise that your brand makes to the customers and creates space in the heart and mind of its customer.
Find your insights and exercise with your team to see where you agree and where your answers and observations differ. Incorporate the customer data you have to back up your claims and look for information as opportunities to strengthen your brand.
The goal of the brand pyramid exercise isn’t to come up with all the right answers. It’s a tool to explore your assumptions, better define your brand aspirations, and find the gaps between where you are and where you want to be as a brand.