Innovative Thinking Is The Key To Success

If I ask you ‘Which is your favourite brand?’ would you be able to come up with one specific name. Its difficult isn’t it. But what if I give you a category to choose from then you might throw me a brand name in a couple of seconds.

Here’s the main question – How do we come up with these specific brand names?

The brands that have kept valuing their customers by assuring their value proposition through their slogans and mission statements have not only managed to strongly impact the consumer choice but also eventually made it to the top brands list.

That’s the reason we consumers are so specific about our favourite brands.

2a904f42c112042467db17247a4f76d46fe7e809ba27944191dc32cdA company’s identity relies on numerous factors that includes branding, which is one of the most crucial aspect. A brand must posses all the necessary qualities that can help the consumers to identify with and should embrace a lifestyle. A brand should give its products’ substance and significance.

One of the outcomes of branding is that it has shown an significant improvement in decision making process of the customers. Achieving a reputation makes a brand serve as a status symbol as it confidently highlights the quality of its products thereby reducing the customer perceived jeopardy.

What defines a brand?

Construction site crane building a blue 3D text. Part of a series.

Although there are many aspects that impact a brand’s definition such as the name, the symbol, colour of the logo and the tag line but the brand personality sums them up as in the end it’s all about pleasing the customers.

Brand Personality

Brand personality is something, which the consumers have consented with. Company’s and organisations use the framework of brand personality to nurture the views of the people regarding it’s mission and the product.

It is important to distinguish brand differences, because brand personality influences the perceptions of consumers. The perception of a brand personality is considered an expressive valuation of a brand in the mind of consumers (Balakrishnan et al., 2009).

 

In order to have a more deep idea lets consider the most successful apparel brand i.e. “Nike”.

Nike, Inc.

swoosh-default

Two dreamers Phil Knight and Bill Bowerman started this company with nothing but a handshake to design shoes for runners.

According to Forbes 2016 rankings for the world’s most valuable brands, Nike ranks 18th and steals the no.1     spot for the most valuable brand in the apparel category.

One of the most noticeable logos the Nike Swoosh has helped Nike become one of the most efficacious brands today. The logo stands for the aspects most people strive for:

  • Authenticity
  • Dominance
  • Innovation
  • Winning
  • Performance

Nike’s Brand Strategy

A Compelling Tagline

Nike’s iconic slogan, Just Do It is so appropriate for a brand like Nike as it connects with people individually. It certainly unites the fans with the brand allowing them to build a unique interpretation. I have see people obsessed with this mantra to deal with fitness and everyday obstacles.

The move to start Apparels

401990_430756110304072_1809658815_nAlthough Nike was originally only into making shoes and is also still know for its premium quality it also stepped into the apparel segment. This move was quite clever, proving to be another great example of brand extensions. But wait this doesn’t stop here as Nike now connects with its customer by making numerous accessories that seem to be just irresistible for any Nike fan.

 

Nike’s Brand Personality

positioning-nike

Brand personality has five main variables:

  • Sincerity – this attribute compiles qualities such as such as being original, truthful and down-to-earth. Nike is perceived to be genuine by almost all its fans.
  • Excitement – refers to traits such as daring, trendy, exciting, young, unique and imaginative. Nike’s customers were observed to associate Original, Trendy, Good Looking and Creative with the sports shoes they used. Nike is has been appealing to the younger crowd with their unique designs and trendy colours (neon and bright colours).
  • Competence – this attribute refers to brands reliability, hard work, intelligence and leadership. The company’s history show the hark work its owners put in to achieve world dominance and become the leader in athletic and sports industry.
  • Sophisticated – refers to traits such as upper class, good-looking, charming, feminine and smooth. Nike products are now considered as luxurious and also glamorous in some cases like its expensive sneakers.
  • Ruggedness – describes the strength of the brand. The Nike products are known for its durability, which takes it to another level of exclusivity.

Nike-House-of-Innovation-at-Selfridges-press-release-6

Looking at Nike, Inc. today would believe that this raging monstrous company started with just a simple handshake. Nike’s journey as a brand has been one of persistence and hard work that showed its dedication to lead the business sector.
Innovation and inspiration for every athlete has been Nike’s mission thereby making is inimitable. To become a brand like Nike all it requires is a vision to become a 52-year overnight success.

Don’t believe me? Take a look at this.

By Pranit Kishor Jadhav

Username – kevinjadhav

215358474

 

Reference

Ahmed, D. (2016). STRATEGIC MARKETING PLAN OF NIKE. 1st ed. <https://www.researchgate.net/publication/299889166_Strategic_Marketing_Plan_of_Nike>

Balakrishnan, B., Lee, S., Md.Shuaib, A. and Marmaya, N. (2009). THE IMPACT OF BRAND PERSONALITY ON BRAND PREFERENCE AND LOYALTY: EMPIRICAL EVIDENCE FROM MALAYSIA. 1st ed.<http://ftp://ftp.repec.org/opt/ReDIF/RePEc/ibf/beaccr/bea-v1n1-2009/BEA-V1N1-2009-10.pdf>

Chang, C. (2014). Visualizing brand personality and personal branding : case analysis on Starbucks and Nike ‘ s brand value co-creation on Instagram. 1st ed. <http://ir.uiowa.edu/cgi/viewcontent.cgi?article=5343&context=etd>

CHAPTER 3 BRANDS, BRAND VALUES, AND BRAND IMAGE. (n.d.). 1st ed. <https://www.b2binternational.com/assets/ebooks/industrial_brands/03_power_of_industrial_brands.pdf>

Clifton, R. and Simmons, J. (2003). Brands and Branding. 1st ed. <http://www.culturaldiplomacy.org/academy/pdf/research/books/nation_branding/Brands_And_Branding_-_Rita_Clifton_And_John_Simmons.pdf>

Forbes.com. (2016). Forbes Welcome.

<http://www.forbes.com/powerful-brands/list/#tab:rank>

Investopedia. (2004). Brand Definition | Investopedia. <http://www.investopedia.com/terms/b/brand.asp>

Investopedia. (2010). Brand Personality Definition | Investopedia. <http://www.investopedia.com/terms/b/brand-personality.asp>

Mustamil, N., Chung, H. and Ariff, M. (2004). Determining Brand Personality of Nike Sports Shoes Using Aaker’s Brand Personality Scale. 2nd ed. <http://www.ijier.net/index.php/ijier/article/view/355/331>

NIKE, INC. A GROWTH COMPANY. (n.d.). 1st ed. <http://media.corporate-ir.net/media_files/IROL/10/100529/nike-gs09/docs/nike-growth-story.pdf>

What is “Branding” and why is it important?. (2009). 1st ed. <http://www.wileydesign.com/documents/wisebites/wb0629_what_is_branding.pdf>

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