Offerings and Brands
Companies address customer needs by putting forth a value proposition, a set of benefits that satisfy those needs. The intangible value proposition is made physical by an offering, which can be a combination of products, services, information, and experiences. A brand is an offering from a known source. A brand name such as Apple carries many different kinds of associations in people’s minds that make up its image: creative, innovative, easy-to-use, fun, cool, iPhone, and iPad to name just a few. All companies strive to build a brand image with strong, favorable, and unique brand associations.
Offering and Brands
1 Companies address customer needs by putting forth a value proposition, set of benefits that satisfy those needs
2 The intangible value proportion is made physical by an offering (product, services, experiences).
3 A brand is an offering from a known source.
EXERCISE
Take a piece of paper and write down what the benefits are from a trusted brand.
Any brand is a set of perceptions and images that represent a company, product or service. While many people refer to a brand as a logo, tag line or audio jingle, a brand is actually much larger. A brand is the essence or promise of what will be delivered or experienced.
Any brand is a set of perceptions and images that represent a company, product or service. While many people refer to a brand as a logo, tag line or audio jingle, a brand is actually much larger. A brand is the essence or promise of what will be delivered or experienced.
Importantly, brands enable a buyer to easily identify the offerings of a particular company. Brands are generally developed over time through:
- Advertisements containing consistent messaging
- Recommendations from friends, family members or colleagues
- Interactions with a company and its representatives
- Real-life experiences using a product or service (generally considered the most important element of establishing a brand)
Once developed, brands provide an umbrella under which many different products can be offered–providing a company tremendous economic leverage and strategic advantage in generating awareness of their offerings in the marketplace.
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