Cool Is Key To Building A Strong Brand
Creativity and originality are more important than big marketing budgets when it comes to building strong brands, according to the latest research from the Chartered Institute of Marketing (CIM).
The study, which was carried out in conjunction with The Brand Council, shows that companies that keep their brands fresh through intelligence, rather than big marketing budgets put themselves in an exceptionally strong competitive position.
A ‘cool’ brand is defined as one that maximises its value through innovation and creativity rather than through the use of mass-marketing campaigns. The research shows that 72% of 18-30 year-olds believe that the personality of the brand directly influences their decision as to whether or not it is cool, with 64% saying that innovation determines how long a brand can stay cool for.
Word of mouth was found to be the best way of creating cool brand awareness and the nature of cool was shown to be more unique than the mass consumer market, meaning that creativity and originality, rather than points-of-presence or airtime, are the most effective marketing methods.
The study highlights several brands as being particularly cool, with Bang & Olufsen, Mercedes Benz and Daimler Chrysler all singled out for their innovative use of marketing.
Commenting on the research, Stephen Cheliotis, brand liaison director at The Brand Council, said: “Understanding your brand and market is vital whilst keeping fresh and innovative is key, but these must take into account the brand roots and not divert from the core characteristics and personality of your brand.”
Earlier this week the CIM released research showing that television sponsorship is a key tool for maintaining business results during an advertising downturn (see TV Sponsorship Delivers During Tough Times).
Chartered Institute Of Marketing: 01628 427 500 www.cim.co.uk
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