Watch this with a 10-15 minute audiotrack at http://vimeo.com/novusprogram/lesson10 The goal of this lesson is to provide an overview of what a brand is and how it enhances the value of a business. It describes the various benefits of having a strong brand, using a well-known example to illustrate the effect a brand can have on customers. It then goes through the key considerations in understanding your current brand and developing a strategy for what kind of brand would be ideal for your business. The lesson provides examples of common tools used to develop a corporate identity and how a brand strategy is much broader than a marketing strategy. The Novus project is a combination of video tutorials designed to be used in conjunction with a free business simulation software program. The Novus Business and IT Program contains 36 business and IT training videos, covering basic finance, accounting, marketing, economics, business strategy, Word, Excel, and PowerPoint. Users will have an opportunity to apply the lessons in the Novus Business Simulator. Over six rounds, the user or teams will have to make decisions on capital purchases, financing, production, financing, and human resources for a microbrewery. This channel has arranged the 36 video lessons into the order in which they are meant to be used with the simulator. To watch this slideshow as a video, please go to our Vimeo page at: https://vimeo.com/novusprogram. To download our free business simulation software, please go to our SourceForge page at: http://sourceforge.net/projects/novus/.

1. Brands
Objective: To understand what a brand is, why it is important, how to
identify your business’s brand, and tools to help improve your brand.
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2. Brand Introduction
• Brand Strategy
• Three distinct pieces:
– Brand
– Corporate Identity
– Logo
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3. What is a Brand?
• “A name, term, design, symbol, slogan or any
other feature that identifies one seller's goods or
services as distinct from those of other sellers.”
• Brand is the emotional connection your
customers have with your business’s products
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4. Nike: A Global Brand
What thoughts, words, or feelings does Nike’s logo
have for you?
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5. Value of Small Business Brands
• Small business can apply brands to achieve:
– Customer Recognition
– Product Association
– Communication
– Customer Relations
– Brand “Equity”
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6. Process of Building a Brand
Three Major Factors Key considerations:
• Your products and services
1. Your Business • Your core values
• Your mission statement
2. Your Customers • Your strengths
3. Your Competition • What you specialize in
• Your target market
What makes your business
different or unique?
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7. Process of Building a Brand
Three Major Factors Key Considerations:
• Where is your target audience?
1. Your Business • What do you they think about
you?
2. Your Customers • What would you like them to
3. Your Competition think about you?
• How will you attract them?
• Who is else is competing for
their loyalty?
How is your brand viewed today and how do
you want it to be viewed in the future?
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8. Process of Building a Brand
Three Major Factors Key Considerations:
• How do your competitors’
1. Your Business brands compare to yours?
• Do not copy a competitor’s
2. Your Customers brand.
3. Your Competition • Find the particular customer
need that your business fills
better than your competition.
A strong brand is unique and memorable.
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9. Brand Strategy: Corporate Identity
• Tools to strengthen your corporate identity:
– A logo
– Stationery
– Marketing tools
– Products and Packaging
– Apparel design
– Signage
– Messages and Actions
– Other Communication
• Consider the physical appearance of your business.
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10. Using a Logo
• A good logo should be:
– Instantly recognizable.
– Memorable.
– Clear, even in small sizes.
– Not too similar to other businesses’ logo
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11. Budgeting a Brand Strategy
TOOL TYPE COST
Logo One-Time Low
Business letterhead Recurring Low
Business cards Recurring Medium
Printed marketing materials (flyers, brochures, etc.) Recurring Medium
Electronic marketing materials (website, Facebook, etc.) Recurring Low
Special packaging for your products Recurring High
Employee uniforms One-Time Medium
Exterior signage One-Time High
Physical communications (door-to-door marketing) Recurring Medium
Electronic communications (phone calls, emails, etc.) Recurring Low
Appearance of store (initial design and construction) One-Time High
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12. Involving Your Staff
• Employees should:
– Help identify how your brand is perceived today
– Create the image of what your brand should be
– Communicate your brand in everything they do
• Involving staff in the brand process increases
their sense of ownership and loyalty
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13. Conclusion
• Brand strategy helps guide your marketing
strategy
• Reputation of business owner is important
• It takes time and commitment to build a strong
brand
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