The 4 Stages of Brand Value Creation

 The 4 Stages of Brand Value Creation

WELL-managed brand systems are not just for decoration. They are value drivers that allow for companies to grow their brands even in saturated markets.

The secret of success in brand management lies in brand perception and value creation. As we live in a world of overabundance, consumers often find it difficult to properly assess the value of a  brand and what they have to offer.

A perfectly managed brand allows customers to join the dots and discover the brand value beyond just the price point, which develops into brand awareness and appreciation.

How does your brand measure up? Here are the four stages of Brand Management to gauge if you have the qualities to be a great brand.

1.      VALUE CREATION -- Building a brand starts with value creation. This is the prerequisite for effective brands and branding. Companies must offer compelling benefits to consumers beyond what the competitors have to offer – consistently and verifiably – to become a value-added brand.

2.      PERCEPTION -- Only what is perceived creates value. Such values can only have an effect if customers perceive them. Some companies are not even aware of their strengths and benefits, and therefore are not able to position their brand effectively – thus missing out on the benefits and advantages that comes with it.

3.      APPRECIATION – This a prerequisite for selling. As soon as the customers size up the brand, they must have a sense of its value vs price. What is it worth? How much am I willing to pay? And if the perceived value is higher than the asking price, then a potential sale can be made.

4.      VALUE ADD -- Finally, when the customer receive more than they spend,  a bond of relationship trust is built between buyer and seller.  This value surplus which usually goes beyond the price point, is the hallmark of well-managed brands.