Brand Building Pentagon

Referring to M G Parameswaran’s book Building Brand Value – Five Steps to Building Powerful Brands, the brand building pentagon that enable the firm to develop a new brand or to make an existing brand stronger. Following are the steps as per this model:

1. Brand appraisal:

There is a gap in the market. But is there a market in the gap?

Step one i.e. brand appraisal is to explore the opportunities for creating a new brand. It can be divided into five components, all of which are important to build a complete picture of the brand potential. It includes following activities of marketer:

   a. Market Analysis:- size of the market

   b. Competitive Analysis:-

   c. Consumer Analysis:- habits of consumer

   d. Competency Analysis: - who you able to delivery?

   e. Macro Analysis:-

 2. Brand definition:

The brand represent a bundle of attributes – some physical, some intangible, some rational and some emotional. In order to be successful, a brand must offer the functional benefits and along with this it address the other non-tangible components rightly to evoke empathy towards the brand. At the second stage the important question is:

What will the brand stand for?

   a. Brand Reasons – benefit laddering, rational,

   b. Brand Positioning – Gap analysis, Position of typologies, testing/validation, Past/Present/Future

   c. Brand Image – personality, habits, attitude. Tangible / non-tangible components

   d. Brand Mapping – circle, prism, triangle

  

3. Brand articulation:

How will the Brand express itself to its target consumers?

  a. Brand Identity – Name, color, logo, design

  b. Brand Communication – Packaging, advertising, direct / surrounding

  c. Brand Service

4. Brand measurement:

The way we need to track performance of the brand?

  a. Brand Audit

  b. Brand Track

  c. Brand Dashboard

Once the brand gains acceptance, it becomes important to track the performance of the brand and so provide data for brand expansion.

5. Brand expansion:

 Should the Brand be extended into other related categories ?

  a. Brand Extension

  b. Brand Naming Structure

  c. Brand Portfolio Management

 d. Brand Valuation

As more and more consumers subscribe to the brand’s value offer, the brand becomes more and more valuable to the brand owners. To achieve this, strategic planning has to be consistently and relentlessly followed, for brands are not built overnight. The Brand Building Pentagon presents a detailed plan to enhance profits, improve current professional practices and contribute to the development of a brand.