Brand identity

When the market is saturated with different products and offers, it is easy to get lost among others, even for companies with a quality and useful product. A consumer faced with a choice will prefer a brand that is recognizable, close to him and understandable. That is why the issue of identity is so relevant in the context of modern marketing.

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Brand identity is a set of characteristics that form in the imagination of the buyer a clear image of the brand, emphasizing its distinctive features. The main elements of the brand can be called:

• values - their presence allows the potential buyer to perceive the company as "his", supporting his point of view. Also, a properly formed system of values should cause the consumer to want to join your position. Examples of such values can be quality, safety, care for the environment, progress and high-tech. Values can be either social or individual;
• attributes - its image (recognizable colors, font, logo), also name, slogan. Together they should form a complete image and coincide with the needs and demands of the buyer;
• associations - it is important not only to recognize the brand, but also to associate it with the type of products you represent;
• essence - brand characterization in a few words (most often no more than five).

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What is it

The first thing customers notice when they encounter a brand is the visual components, called the identity. These elements immediately catch the eye of customers and will be constantly in their field of vision in the future. Work on creating brand identity should begin with the development of visual elements. To do this, you need to choose:

• name: the client's contact with the brand begins with learning the name, so it should be easy and memorable after the first reading. This is important because the name of the brand is used in all marketing activities and the audience should at the first glance at the name understand who we are talking about;
• logo: as the business develops, the logo can become a trade mark of the company and tell more about it than dozens of words. Customers will be enough to see logo to understand who we are talking about;
• сompany colors: every established brand has a set of colors that they constantly use in their work. On the site, in newsletters and simply advertising can meet these colors and they will be firmly associated with the brand;
• font: every detail is important for brand identity, so even the font needs to be matched with other elements.

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Apart from visual elements, emotional connection with the customers is important for creating brand identity. For this, the company needs to familiarize the audience with its values and make the customers imbued with them. 

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We perceive a Brand as a complex socio-economic phenomenon that meets the rational and emotional needs and expectations of specific Consumers. Brand creation work is successful when a personalized (individual) Brand field is created, a new environment that is able to attract, delight, surprise the Consumer.

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Brands are an object of purchase and sale. To determine the fair market value of a brand, a special valuation, brand valuation is carried out. It is necessary to distinguish between the psychological value or strength of the brand and the financial value of the brand. It is an assessment of discounted future cash flows generated by the brand for the company.