AWARENESS x REPUTATION = BRAND
Now, I want to adjust this a little…
AWARENESS x REPUTATION = BRAND RELEVANCE
A nice equation.
AWARENESS – Do people know about your product, service or company? Do they talk about it? Do they tell others? Do they know the great things that you do?
REPUTATION – What do people say about your product, service or company as good or bad? What do customers think? Are they satisfied? Do you deliver on your product, service and brand promise?
Brands don't develop in isolation, either. They result from the interaction of thousands of people over a long period of time. Branding requires not only the work of executives and marketing people who manage the brand, but an ever-changing roster of strategy consultants, design firms, advertising agencies, research companies, PR firms, industrial designers, environmental designers, and so on. It also requires the valuable contributions of employees, suppliers, distributors, partners, stockholders, and customers—an entire branding community. It takes a village to build a brand.
Building a brand today is a little like building a cathedral during the Renaissance. It took hundreds of craftsmen scores of years, even generations, to complete a major edifice. Each craftsman added his own piece to the project—a carving, a window, a fresco, a dome—always keeping an eye on the total effect. Like yesterday's cathedrals, many of today's brands are too large and too complex to be managed by one person or one department. They require teams of specialists, sharing ideas and coordinating the efforts across a creative network.
when companies routinely consigned large portions of their communications to a single firm, typically an advertising agency. The advertising agency would conduct research, develop strategy, create campaigns, and measure the results. The main benefit was efficiency, since one person within the client company could direct the entire brand effort. As branding has grown more complex, so has the one-stop shop. Today's one-stop is either a single multi-disciplinary firm, or a holding company with a collection of specialist firms. The advantages of the one-stop shop are an ability to unify a message across media, and ease of management for the client. The drawbacks are that the various disciplines are not usually the best of breed, and, in effect, the company cedes stewardship of the brand to the one-stop shop like Brand Diagonal.
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