Let's start at the beginning. What is a brand anyway? At its most basic, a brand is the perception in the minds of its consumers and customers. That perception is driven by a myriad of elements - some which can be directly controlled by the brand owners and some that can't. A few elements that build up to a brand include:
- what the product feels/looks/behaves like
- the customer buying experience
- the level/type of service offered
- the pricing structure
- where the product or service lives
- product reviews
- the logo
Be forewarned, however, even a fully executed re-branding will not necessarily cure everything that ails a brand. The jury's still out on how well things will go for JCPenney. Your own brand is just a piece - albeit an important piece - of the puzzle. How your consumers/customers react and how your new brand compares to your competition are equally critical. Obvious advice from Hat Trick 3C. We know.