5 Failure Factors of a Brand Identity System
I always keep one thing in mind learned from my days in college and university that if you are capable of selling water with a name, then you are capable of marketing anything with a brand label. While the notion of advertising and brand identity development has progressed to excellent heights, consumers continue to get the wrong idea of what is the difference between a brand and a product. Not just that, companies also fails to comprehend the distinction between an item for consumption and a brand name.
The item you create for selling only informs your clients what you put forward. However, a brand identity system is what explains how you are special from your competitors and why should they consider you over other identical entities. This is one main reason why a brand identity system fails. Let us discuss some more chief factors why a brand identity system fails to deliver:
1. Mixing Product and Brand Name:
If you consider a brand identity system to be a simple product, then you can be sure to be trapped in the ‘Brand-Product’ convolution. A brand is something more than a mere manufactured good to be consumed. It creates the intrinsic values like McDonald’s does. Consider the famous fast-food chain to be selling only hamburgers without a label. Would you prefer it over a roadside hawker? Beneath the umbrella of its well-known symbol, it has designed food as something more than just eating.
2. Greed For Making Quick Bucks:
While I realize that each organization’s primary objective is to generate highest possible income, but without a proper long-term strategy, you cannot establish a brand identity system. When organization’s objective is interim and aimed at making quick bucks, they are under siege of the greediness that is likely to lead them to failure eventually. Devoid of creating a long-standing connection with your clientele, your brand identity is likely to collapse.
3. Fall Short of Expectations:
A number of manufacturers don’t succeed because they fall short of their clients’ anticipations to any further extent. If your consumers expect a certain amount of quality and experience from your business, you cannot afford to fall short of that expectation. Many renowned brands have not lived up to their customer’s anticipations and have fell prey to failure.
4. Too Late to Update:
Nobody can ignore that technological transformation is continuous. Moreover, the preferences and tastes of consumers alter each year. That is why it is imperative for brands to update their products and services to be in consonance with the desires of their target customers. You cannot afford to be beaten by the rivals just because you were too slow to bring in new technology. Apple realizes its competition with Android is tough that is why they keep updating every now and then.
5. Diverging From the Core Business:
Imagine Coca-Cola selling cars…silly notion isn’t it? For a brand, the main aspect is to focus on its core business activity rather than going wayward with unrelated ideas of diversifications. When you use the same brand identity system for all your products, there are chances of failure.