B. Units 1 & 2 (t4) - The brand
Task 4 - The brand
Mission Statement
A typical mission statement is a formal summary of the aims and values of a company, organisation or individual in its current state. All companies will need to have a mission statement to state what their audience should expect. Mission statements will usually only consist of a sentence or small paragraph which defines the current existence, purpose and aims of a company. In terms of creative enterprise, this is Behringer's mission statement, who claim that "We obsessively focus on our Customers in the Live Portable Sound, Musician, Recording, DJ/EDM and Broadcast verticals."
Brand Positioning
Brand positioning refers to how a customer perceives a specific company; in other words, how a company wants to come across to their customers. Brand positioning will usually have a statement which describes the description of the target market – it is the who, where, when, why and how of the brand identity. Therefore, it is important for a company to ensure that they are portraying their brand properly and to their own wishes. A creative example is Nike, who position their brand in the minds of their target audience solely through the name itself. 'Nike' is the name for the Greek goddess of victory, and so this alone promotes the main aim of the company's products. Moreover, they also promote their strict sustainability, what they call 'Move to Zero' as a mission for zero waste of their products, which is key to brand positioning as this creates a positive image of Nike in their consumers' minds.
SOURCE - What Is Brand Positioning? - Keap
Business Drivers
Business drivers are important dynamics which determine the value of a business. A key business driver will be something that has a major impact on the performance of a business, requiring constant monitoring and sustainability. Business drivers must be measurable, comparable to industry standards and actionable. Similarly, business values are the benefits that a form generates for its stakeholders. This can include a firm’s long term ability to create revenue, products, services, employment, quality of life and investment. For example, a company may record the traffic volume to their website as a business driver.
Marketing
Marketing your business/brand involves taking precautionary steps to ensure you do so correctly. You must consistently self-assess to ensure that you are efficiently demonstrating your skills and goals. Networking is also a beneficial way to market yourself due to the fact that it provides you with new opportunities and connections which can help grow your brand. Your online presence is also crucial in marketing your brand – social media accounts such as LinkedIn can provide you with the connections needed to market your brand. Lastly, using alumni to connect with others with the same interest as yourself can be beneficial in the sense that they too can understand the difficulty of competition. Moreover, this can help generate new opportunities and routes for your sector of choice. Spotify are a creative business who demonstrate this perfectly through their partnerships and connections with other brands such as Squarespace; they also promote themselves on their own platform, which presents how they can effectively use their own platform to market and promote themselves further.
Business Blueprint
A business blueprint is a strategic plan that helps business owners meet productivity requirements, milestones, employment and expected outcomes – it helps plan how a business will efficiently execute any competition. When it comes to larger businesses in a creative
enterprise, it is a must for them to have a business blueprint to plan staff
management, funding, marketing etc. It is there to give details about the business and how to make it work, sort of like a set of instructions for a business. This relates to customers as they will be the outline for the blueprint, with the company strategizing their actions around them and using their customer base to alter their marketing techniques to be the most effective.
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