The power of the brand

Abstract

A brand is made up of three things: what a company sells, what a company does, and what a company is. A brand represents a set of promises. It implies trust, consistency, and a defined set of expectations. The strongest brands own a positioning in the consumer’s mind that is unique to that brand. To maximize the customer‐brand relationship, a company must understand how customers think, act, perceive, and make purchase decisions. This holistic analysis is called “crafting a customer model.” This article offers the steps for creating such a model.