FEATURE
ous for creating all kinds of new features for existing products. If the features, however, don’t provide a specific benefit that the consumer needs or are not intuitive, those features may end up hurting the brand. Remember how hard it used to be to program a clock radio? Now we have Alexa to wake us up. All we have to do is ask. Conversely, a feature that meets a need can provide tremendous value to a brand. When the makers of Sharpie finally developed a retractable Sharpie (the feature) that could be operated with one hand and not dry out (the benefits), they delighted millions of brand loyalists enhancing their already high brand scores. 4. Pay attention to the details. There is nothing more exciting for consumers than when they buy a product that exceeds their expectations. That is why I love driving my Acura MDX. It is an SUV that drives like a car and offers so much more. The instrument panel is simple to read and easy on the eyes making driving safe and enjoyable. The four-wheel drive keeps me moving in all types of terrain. The Bluetooth audio provides perfect communication clarity. The vehicle seats seven comfortably or the rear two rows of seats can be folded down to haul as much stuff as a pickup truck. I could go on and on about my MDX, but more than anything it is the attention to detail put into each of these features that makes me thrilled to be an Acura owner.
world, people consume McDonald’s burgers and fries millions of times a day. The fries they eat in the morning taste just like those they eat at night. The Big Mac they buy in Beijing is delivered to them in the same amount of time as the one they buy in Baton Rouge. The menu board, the restrooms, and the seating area look the same in every restaurant. For this, consumers reward McDonald’s with their patronage more than any other fast food restaurant. While McDonald’s food usually does not rank first in taste, they consistently rank first in market share and revenue. When consumers can trust that their brand experience will be the same every time, they will value that brand more and more over time.
6. Stay Passionate. The last strategy is to let your passion shine through in everything you do. Consumers love brands whose owners are as passionate as they are. That “never rest on your laurels” attitude translates into exciting and superior products that continue to wow and delight consumers. One of the reasons people love the Apple brand so much is because of the passion expressed by Apple employees. With each new product they come out with - the latest iPhone or iPad, the iWatch, or Apple TV - Apple enjoys going toe-to-toe with Microsoft, Google and Samsung. As a consequence Apple consumers revel in the controversy. As a result, there is no other computer or mobile technology brand as loved as Apple. The use of brands are changing how companies operate and the strategies that they employ in their attempt to grow and increase brand value. Consumers are becoming more and more reliant on brands, at a younger and younger age, to help them make purchase decisions about products and services. Therefore, growing your brand’s value helps cement its relationship with consumers and makes it practicably irreplaceable. When this happens consumers will not only insist on your brand, they will become brand advocates. When that happens, your company and your brand will prosper.
5. Be consistent and reliable. In thousands of restaurants all around the
TOTAL BRAND LICENSING
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