how does branding, consumer Behavior, & marcom fit together?
Whether you're a seasoned marketer or an entrepreneur that's new to the field of branding, consumer behavior, or marketing communications, this page serves as a resource for the development of your next Brand campaign or business endeavor.
To Start off, What's Brand Strategy?
In very simple words, brand strategy is a long-term plan for the development of a successful brand in order to achieve specific goals.
In your business, the brand is the perceived image of the product/service you sell, and branding is the strategy to create that image. A well-defined and executed brand strategy affects all aspects of your business and is directly connected to consumer needs, emotions, and competitive environments. The perceived image of brands provide consumers with a decision-making-shortcut when feeling indecisive about the same product from different companies
That brings us to Consumer Behavior...
Consumer behavior, also referred to as consumer psychology, is the study of consumers and their motivations.
Consumers make judgments and, a lot of the times, impulse decisions. Sometimes consumers are rational. Sometimes they're completely irrational. Ultimately, the study of consumer behavior helps better understand consumers and their decision-making processes.
But wait... where does Marketing Communications come into play?
After figuring out your brands positioning and you've gained a holistic view of your consumers, there are different tools to create and shape your brand. Amongst those tools is marketing communication, MarCom for short.
MarCom refers to the messages/media you deploy to communicate with your market, whether advertising, promotions, sales, branding or online promotions, and it has two objectives: building product demand/preference and shortening the sales cycle.
The process allows the public to know and understand the value proposition of your brand. Successful branding involves targeting audiences who appreciate the organization's marketing program.
The Objective of this all is to understand the decision-making process of your consumer in order to effectively communicate your value pRoposition and, in turn, capture value from customers.
While some of these concepts might seen somewhat abstract, the resources listed below should help in further understanding the field of brand strategy, Consumer Behavior, and marketing communications.
- The Power of Habit by Charles Duhigg
- Thinking, Fast and Slow by Daniel Kahneman
- Predictably Irrational: The Hidden Forces That Shape Our Decisions by Dan Ariely
- Blink by Malcom Gladwell
- Buyology: Truth and Lies About Why We Buy by Martin Lindstrom
- Small Data: The Tiny Clues That Uncover Huge Trends by Martin Lindstrom
- Influence: The Psychology of Persuasion by Robert Cialdini
- Contagious: Why Things Catch On by Jonah Berger
- Irrational Exuberance by Robert Shiller
- How We Know What Isn't So: The Fallibility of Human Reason in Everyday Life by Thomas Gilovich
- The Winner's Curse: Paradoxes and Anomalies of Economic Life by Richard Thaler
- Nudge: Improving Decisions About Health, Wealth, and Happiness by Richard Thaler