Brand Management: What’s in a name?
A brand name encapsulates a brand’s reputation, its products or services, its people, the good it does, etc. Companies spend decades building a brand image, of which is entirely represented by the company moniker. A brand’s name is everything, and careful planning should be executed in not only naming a brand but in managing the image behind it. This is where public relations comes in.
Over the last 11 years, Obsidian has been a part of countless branding and rebranding initiatives with companies both in Memphis and across the U.S. We understand the significance of designating a name that represents all the company is, and we conversely recognize the consequence of selecting a name that misses the mark.
So, how do we get started? Research – and lots of it.
We always start with comprehensive research of the company, its competitors and the marketplace in which it operates. From the initial research phase, we move into creative brainstorming to discover brand name possibilities, then quickly dive back into research to explore potential uses, misinterpretations and other pros and cons of our [usually really long] list of suggestions.
Often, it takes multiple rounds of presentations to and discussions with the client – and usually more research – to shave down the possibilities and reach a final selection. And from that very moment, brand management begins.
And, what is brand management, you ask?
We would define brand management as the careful monitoring and strategic planning of how a brand is presented, represented and communicated about in the marketplace. It is continuous – an ongoing effort, not a one-time launch – and every moment matters.
As eloquently stated by well-known business man Warren Buffett, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
We believe that “doing things differently” means being careful and cautious with all that your brand name represents – from operations to communications and everything in between!