Brand Characteristics are the core values and fundamentals that showcase the true essence of the brand. They are a set of attributes that are identified as the physical, distinctive, and personality traits of the brand similar to that of an individual.
It is very important for the brand to stand for something that is unique and consistent in nature and this objective drives the management and the branding and marketing department to define a set of Brand Characteristics working as one of the integral facets of the entire brand management process.
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Importance of Brand Characteristics:
1) Loyalty
The unique and exclusive characteristics of the brand create an emotional connection with the target audience that makes them indulge in the repeat purchases resulting in the loyalty towards the brand and its offerings of products and services.
2) Awareness
The target market and the audience needs to be made aware about the attributes, values, and characteristics of the brand through various marketing and promotional programs comprising of participating in corporate events, sponsorship in events related to the nature of the brand, print advertisements, television commercials, and use of digital marketing and social media to elevate the awareness about the brand.
Did you know that consistent brand characteristics can significantly boost your business growth?
Investing in consistent branding can have a profound impact on your revenue. According to a study by Lucidpress, consistent brand presentation across all platforms increases revenue by up to 23%. (Source: Lucidpress, “The State of Brand Consistency 2021”)
Moreover, consumers are increasingly drawn to brands that align with their personal values. Accenture’s 2022 Global Consumer Pulse Research revealed that 63% of consumers prefer to purchase products and services from companies that reflect their beliefs. (Source: Accenture, “Global Consumer Pulse Research 2022”)
3) Higher sales and profits
With the increased level of brand awareness showcasing its unique characteristics in the target market that results in the top of the mind recall factor about the brand and its offerings in the mind of the consumers making them indulge in the repeat purchases and hence, the company attains its objectives of higher sales and profits.
Examples of Brand Characteristics of leading brands:
1) Knowledge about the target market
It is not possible for any brand to appeal the entire market to promote its offerings of products and services and the segregation and filtration of the target market is a must and is the foremost Brand Characteristic for any brand to attain the pinnacle of success.
To start with, the target market or location needs to be identified and then the target audience needs to be carefully analyzed and understood by filtering them on the parameters of age, gender, lifestyle, income levels, disposable income, working industry, and interest areas. Once the brand has an authentic and a thorough knowledge of the target market, it can decide on the marketing channels and promotional tools that can be opted to promote the offerings of products and services.
2) Uniqueness
The Brand Characteristic of uniqueness holds the primal advantage for the brand to be successful and gain the competitive edge in the market. There has to be a unique and specific character to the brand that separates it from the other players in the market. For example, Apple brand is renowned for offering innovative and technologically advanced products as compared to its contemporaries plus its products has minimal design aesthetic appeal working as a unique Brand Characteristic for the company.
Dominos promises to deliver the pizza delivery within 30 minutes from the order placed, else free and it has been working in the favor of the brand for a very long time as the company has been adhering to its Brand Characteristic and the promise of timely delivery.
3) Passion
The markets are always dynamic and the business is known for its volatile nature as there is always a tough competition from the existing players in the market as well as the new and budding ones entering and creating a foothold in the market.
Hence, the characteristics of passion, patience, and perseverance are a must for the brand to survive and thrive in the ever competitive industry. Steve Jobs, the promoter of Apple had this characteristic in his personality and the same was evident in his technology brand as well that has made the brand to carve a niche for itself and rank amongst the top brand consecutively for last 7 years.
4) Consistency
The market insiders vouch for the fact that the customer changes his brand preferences when the brand to which he has been loyal becomes inconsistent in its values and attributes and functional benefits of its offerings. Hence, it is very imperative for the brand to have the Brand Characteristic of consistency to keep the loyal customers happy and satisfied giving a tough competition to its arch rivals.
Restaurants are one of the best examples of this characteristic as if the quality of food is maintained and consistent throughout the operations of the restaurant, the brand enjoys loyal customers that keep on visiting for enjoying the quality and scrumptious food, and if there is any decrement in the levels of food quality or hygiene factors, it can cost a fortune to the restaurant brand.
5) Competitiveness
As discussed earlier, success to business never comes easy as there are already established brands in the market that work as a tough competition to the brand plus the new entrants offer new and novel products on the table to the customers.
Hence, the factor of competitiveness that comprises of keeping a steady eye on the competition, research and study on the latest industry trends, keeping a thorough pace with the technological advancements, and offering novel and innovative products and services to the customers is one of the crucial Brand Characteristic.
6) Exposure
The brand needs to be heavily exposed in the market having bigger marketing budgets to opt for the multiple media and promotional channels to make the target market and the audience aware about the unique Brand Characteristics, ethos, fundamentals, values, unique selling propositions, and how its products and services are different from its competitors.
For the successful branding campaign, the brand should opt for a 360-degree marketing approach utilizing media channels right from television, radio, print, outdoor, digital and social media amongst others.
7) Leadership
The CEO of a big firm will be the leader of the brand and in case of the small business; owner will be the leader of the brand. In any case, the attribute of leadership is a must to envisage the short-term and long-term business objectives, plan and execute business strategies, motivate the internal staff, and maximize their strengths that will help the brand to achieve its goals and objectives.
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