148 • 100 GREAT BUSINESS IDEAS
In practice
- Understand how the brand will be used. Is it to provide
reassurance, to enable a premium price, or to create a desire to
buy? Understand what benefi ts the brand offers customers, and
how reliable and trustworthy it is. - Know what the brand means to customers, then deepen this
appeal. Ensure the tone of marketing is commensurate with the
brand values and target market. - Identify how the brand differentiates a product from competitors,
to decide which attributes to emphasize. - Conduct an audit of the brand to determine how strong it appears
to customers. This will reveal how the brand can be used in new
markets. - Ensure there is suffi cient investment in the brand, and
discover how the brand can be strengthened. This active brand
management will build customer value and loyalty.