Brands don’t exist in a vacuum. It is not purely the look or text of the word or logo that appeals to consumers (as funky cool as they may be). Every time a customer has a good, or bad, customer experience in relation to goods or services offered by a business, this creates a little bit of reputation in that product or service. That reputation attaches to the “figurehead” for those goods or services – the trademark or brand.
In this way, the value of that brand increases as it becomes recognised for having a reputation attached to it.
However, the brand is almost always supported by “brand support intangibles” that create the qualities for which that brand gets its reputation. Identification of brand support intangibles is something that is routinely carried out in the valuation of intellectual property.
Some examples of these brand support intangibles can be:
Brands become that much more effective when they are created in recognition of the brand support intangibles behind the brand, and in recognition of the market to which the qualities provided by the brand support intangibles appeal. Aligning your marketing strategy with your brand support intangibles ensures that you are selling that aspect that your customers like the most about your product, and ensures that you can deliver on what you promise.
In addition to this, when brands are created that are also inherently distinctive, and which are readily capable of protection by registered trademarks, then they become all the more valuable. For more information on what makes brands more readily protectable, you should speak to our trademark attorneys.
Further downstream, marketers should take cognition of their brand support intangibles when:
By recognising the brand support intangibles early, this will make the identification of the market, the marketing channels and the marketing strategy clearer. We believe that by aligning the brand as well as the marketing strategy with the brand support intangibles, a synergy is created that is worth more than the sum of its parts.
Investigating what your main brand support intangibles are, will give you a keen understanding of the main differentiators between your product and your competitor’s. Investigation and determination of brand support intangibles are an integral part of IP valuation.If you’re interested in finding out more about recognising and leveraging your brand support intangibles, then feel free to contact us.