Reinvention is the process by which a brand, its core essence, and its key attributes are examined, and through the rigorous application of market-based data (as well as applied findings and customer and consumer insights), the next phase or evolution of the brand that capitalizes on those qualities and optimizes profitable revenue is determined — all while staying true to the essential core nature of the product or service.
Reinvention begins at a brand’s core essence and is constructed from there. It is not change that is artificially created or imposed externally, nor is it change for its own sake.
The brand core is everything -Knowing and understanding that core essence not only makes a product or service more relevant, it also creates a touchstone for all the work that will follow. Everything that is undertaken must be true to the essence.
THE CORE of a brand is its essence — what it is at its heart. It is the unique differentiator and distinctiveness that attracts buyers and consumers time and time again, building brand preference and customer loyalty. A brand’s core is an intangible, and it’s an emotional connection to the consumer or customer based on preferences and experience.
A brand’s essence is intangible: it’s an emotional connection to the consumer or customer based on preferences and experience . It’s very different from a brand promise, which is the contract you make with your customers, often delivered in an advertising tagline.
Find unique points of differentiation and focus your marketing on those that others can’t easily copy . “Positioning needs to keep competitors out, not draw them in. A brand that claims to be the cheapest or the hippest is likely to be leapfrogged.”
Originally published at www.newmediaandmarketing.com on February 10, 2016.