The Brand Pyramid can be defined as a framework or the tool that answers the fundamental questions related to the brand and its operations in the market. It is one of the most crucial and integral aspects when the brand is on the verge to embark on the journey in the market.
Components of the Brand Pyramid
1. Features and Attributes:
The questions such as why is the product or service designed by the company? What does it do? Basically, it talks about the unique selling propositions and distinguishing characteristics of the brand and its offerings of products and services giving it a competitive advantage in the market.
2. Functional Benefits:
This component of the Brand Pyramid throws light on the questions such as what is the problem that is the product or the service is going to solve? How is the customer going to the use the product? And what will be the customer’s expectations after using the product? It basically throws light on the tangible and problem-solving aspects of the product or a service.
3. Emotional Benefits:
Every brand and the product weaves a story in the minds of the customers creating an emotional connects with the brand that makes the customer loyal towards it, and this component harps on this factor. The agenda is that the customer should feel good about using the product or service.
4. Brand Personality:
It is vital for the brand to get the human characteristics and personification so that it is able to create an emotional and psychological connection with the customers that will result in the long-lasting loyalty.
5. Brand Essence:
This component of the Brand Pyramid holds the apex position as it answers the questions such as what does the brand stand for and define its DNA and formulates and accentuates its position in the market.
Working on the Brand Pyramid is quite trivial in nature but working on this exercise is a must for the branding and marketing department as it helps the brand to create a lasting impact on the target audience, attain the objective of sales and profits, and helps the brand sustain in the industry amidst the growing and cut-throat competition.
Importance of Brand Pyramid
The crucial components of the Brand Pyramid need to be arrived and concluded by the senior management and the key members of the team jointly. Hence, it facilitates the consensus on the core values of the brand, essence, vital fundamentals, what does the company want to be, what will be the target market, and who will be prospective customers.
It helps to clarify the fundamentals of the brand that sets it apart from the rest of the competition in the market and it also helps to figure out the essence of the brand that is very important for the brand to carve a distinctive identity in the market and in the minds of the customers.
It formulates the strategic foundation of the brand that helps to decide the long term and short objectives.
It provides the factor of consistency so that every key member involved is on the same page as per the targeted plan to attain the goals and objectives.
How to build the Brand Pyramid?
1. Brand Audit:
The first step to build the Brand Pyramid involves on deciding whether it is required to work on the new Brand Pyramid or the current one is working well for the brand. It further involves conducting a brand audit with the key stakeholders of the company by asking them the core values, fundamentals, mission statement, vision statement, and essence of the brand that they have envisioned for the brand and the company as a whole.
2. Ascertain the attributes of the brand:
The next step involves in deciding the key features and characteristics of the brand that works as a distinguishing factor in the market amidst the competition and so many players offering the similar types of products and services to the target market.
3. Positioning Statement:
The positioning statement is very different from the mission and vision statement. It answers the questions such as why is the brand in the market? What does it have to offer? Who are its customers? And how is it different from others in the market?
4. Design the experience:
Whenever the customer indulges in the purchase of the products and services of the brand, the main element that he remembers is the experience that he or she gets during the entire activity of the sale and purchase. Hence, it is quite vital for the brand managers to set a new benchmark in the customer service and the overall brand experience for the customers at the various levels and platforms where the sale takes place; be it the online via the website or on a one-to-one basis.
6. Brand Voice:
The next step encompasses of working on the voice and tonality of the brand. The voice should complement the nature of the business and its products and services offered plus very importantly the unique selling propositions and core distinguishing factors should convey the message loud and clear to the target audience. Also, it is crucial maintaining the unison in the voice and tonality on all the media and promotional platforms for the best recall factor.
7. Key Messages:
Next comes in line is working on the key messaging statements such as vision and mission statements that are to be arrived jointly by the key members of the management and the branding department.
8. Logo and design aesthetics:
This step involves working on the visual features such as logo, tagline, and the other related design aesthetics of the brand. They need to be in tandem with the product and service offerings, objectives, core values, and fundamentals. It should be attractive and catchy to grab the instant attention of the target market and audience.
Once the structuring of the Brand Pyramid is in place, the management needs to continuously and consistently work on it to sustain and thrive in the market.