-: Welcome to part two.
Welcome to part two where we will conclude the,
my understanding of brand.
So think about what does each of these brands stand for?
What's the promise?
What is on brand for these?
And what is off brand?
What would they offer?
What would be a new thing
that they would offer under their brand?
What would be things that they would not offer
because it would be off brand?
So I'm going to show you a few logos
and think about what they might be.
What's the brand of Walmart?
What's the brand of Nike?
What's the brand of Starbucks?
What would they offer new, what would they not offer?
Here are three well-known Vermont brands.
What are they known for?
What's their promise?
What's on brand for them?
What's not on brand for them?
So,
a brand is, again,
very often identified with their name,
with logos, with colors and languages,
and the other brand elements.
Many are named after their founder, like Ford.
And think about what would be a good name.
Here are some, some ideas.
That it should suggest what it is.
Distinctive, fits your image,
easy to pronounce and remember, having emotional appeal,
and something that translates well.
So thinking about brand equity, it is the,
the equity in terms of value,
not in, not the, not like something being equitable
as in fair, but it adds value to your company
that it benefits the consumer by creating trust.
And it's measured by will someone buy a brand name product.
So the brand should be carefully
crafted and nurtured.
And there's four main steps here,
and I'll go through each one.
First you want it to, you want consumers to be aware of it
and to associate it with the promises.
And think about how did you become aware
of these two entities?
Next, what does it stand for?
Both the functional value of what does it practically do,
as well as sort of the imagery, the abstraction,
maybe the prestige, the fashion, what it's known for.
And again, what is the promise here?
The meaning can be both like thought,
like it's value and it's quality,
as well as emotion, like nostalgia.
So you can see some Vermont branded products here
that reinforce and build on the brand of the overall state.
And what would be things that would not be very well,
that would be off brand,
that if you called them a Vermont product.
What would be other things
that would be on brand
maybe that aren't being offered now?
The response is that you want them to try it,
to buy it, and to buy it again.
And hopefully you gain this resonance
where they are actively loyal,
where they will wear your logo, your brand.
That they'll pay you for a shirt
or a hat that has your brand on it,
where they personally identify.
And here are a few examples of these.
Another model, which we'll also talk about more,
is to know, like, and trust.
That they know that you exist,
they like you and they trust you.
So the key of a good brand is that it establishes this trust
that they're going to keep getting what they like
and know about you.
So this is what we talked about.
We talked about a brand, why it's important.
We talked about brand elements,
and we talked about brand equity,
and why having a good brand is of great value
and has equity for the firm or the organization.
Thank you.