20 Jan 2023

46

How to Rebrand Your Business the Right Way

Format: APA

Academic level: Master’s

Paper type: Coursework

Words: 1135

Pages: 4

Downloads: 0

Product branding refers to a strategy that defines a unique set of marketing to differentiate a given product. It is a marketing activity that describes how the image of a product is communicated to its customers. Branding is established to promote the idea behind the product through images, logos, colors, designs, and other marketing resources to place the product in the customer's mind. This paper aims to discuss the branding of Hot or Not the brand. 

Brand Image 

Brand image refers to how the potential and existing customers perceive a product or service in the market. A strong brand image is crucial in ensuring that it retains current customers and attract more of the potential users. Hot or Not app aims at taking over the market as the most recent and useful application for testing and recording human temperature, especially during the social distance period of COVID 19. The app will be perceived as the most efficient. It is applicable everywhere as long as there is access to the internet, which is not a big deal today. 

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Considering that the product will be made using the latest technology, it should allow easy visibility and reading of the temperature to avoid errors. Another unique characteristic of the product is accuracy. Hot or Not aims at being perceived as the best and most accurate temperature testing application. This implies that the app will enhance the consistency and reliability of the product. Additionally, the product will be the most effective in terms of features. The app is applicable from a personal phone or other devices like tablets and PC. This will reduce the contact between the practitioners and their clients hence decreasing the risk of developing the corvid 19 infections. Besides, it helps in ensuring constant monitoring of temperature, thus seeking medical assistance when necessary. 

Brand Positioning 

Positioning is the process of getting the product positioned in the customers’ minds. It defines how well a product has been registered in the mind of the users (Klein et al., 2019). Hot or Not application aims to stick in the customer's mind as the most powerful and efficient application able to measure temperature. Customers intend to identify it as the easiest to use, most affordable, accurate, and useful. The Hot or Not brand positioning statement will be as follows. For technology lovers who are concerned about accuracy, effectiveness, and the ease of recording data, Hot or Not is the application for you. Hot or Not provides a combination of extraordinary convenience, accuracy, and clarity to all people. 

Brand Personality 

Brand personality is the set of human characteristics associated with a brand name. They are characters that the target audience can easily relate the product to. The brand personally of Hot or Not is competence. Generally, the application aim at being productive and successful in providing solutions in terms of testing and recording temperatures. Besides, it aims at standing out as the best application in the market with a significant level of accuracy, clarity, and excellent results display. According to Robertson et al. (2020), brand personality focus on customers who are interested in effectiveness and accuracy with technology and at an affordable price. It aims at inspiring healthcare professionals to be competent and excellent at what they do, including testing temperature. 

Brand Equity 

Brand equity refers to the commercial values added to the brand name apart from the product. Essentially, the aim of Hot or Not as an application is to enter the market and become the best that it can be. The app's uniqueness in testing temperature through the provision of more accurate, clear, and technology-enabled results will help gain customer loyalty. Usually, product equity is facilitated by customer loyalty on the products ( Jeon, 2017) . For that reason, to gain commitment, Hot or Not application needs to be considered more efficient. For instance, unlike the physical thermometers that require testing temperatures face to face with the practitioner, Hot or Not application allows individuals to test temperature anywhere at any time. With technological advancement, it is easy for any user to prefer online applications instead of physical appliances that are prone to breakdown and getting lost. 

Brand Experience 

Brand experience is defined as the emotions, thoughts, and the overall experience that a brand evokes upon the consumer. There are four dimensions of brand experience: intellectual, sensory, behavioral, and affective (Kumar & Kaushik, 2020). Brand experience help in creating a long-lasting impression in the market than ordinary products. Providing customers with brand experience is a priority for providing a customer experience. Hot or Not application aims at being the easiest to use among all users. In that, they would always prefer using the instrument as opposed to the competing products. Given that it will be the first application with the ability to transmit data and other information online, it is evident that it will provide its users with excellent and positive experience as opposed to physical thermometers. During this period of COVID 19, where many people are being tested, an automated application would stand a better chance to create an impression among users as opposed to manual. The app is also excellent in promoting social distancing. Individuals can use the app without going to healthcare. 

Brand Differentiation 

Differentiation is how a product can stand out in the market and gain a competitive advantage over the rivals. Hot or Not is generally differentiated from the competitor product right from the features. Unlike other brands, Hot or Not has unique features like internet connectivity to allow the instant transfer of data to other devices as soon as they are taken. Another differential of the product will be on the price. The price of Hot or Not will be cheaper than the rival products. The application is available for download and is easy to obtain. It will be in constant development to accommodate the changing needs of the customers. 

Brand Communication 

Brand communication is an essential brand management tool. It is a strategy through which entities inform, inform, enlighten, remind, and enrich their stakeholders' knowledge concerning the brand ( Havíř , 2019). It is one of the tactics that brands opt to use and influence their customers during decision making. Hot or Not as a brand will be communicated to the market through mass media. Adverts will be created to illustrate the uniqueness of the product and its effectiveness in performing its intended tasks. This form of the program will help the potential customers to compare the brand and others in the market and get to make the decision. Hopefully, they choose hot or Not. Another platform for communication is social media. Facebook, Twitter, and Instagram are essential for selling the rand and enticing the target customers. To ensure that majority of the potential customers are reached, the brand will also be communicated through magazines, particularly the medical based and newspapers. Despite the evolution, there are still people who depend on manual physical newspapers for information. 

Conclusion 

Branding is a marketing practice in which a business creates a name, design, and logo that can easily identify a product—branding help in identifying a product and differentiate it from the competing products. Branding is essential in marketing as it does not only make a product memorable but also to help in understanding what to expect from the product. Branding helps in building an accurate representation of who is and how they wish to be perceived in the market. 

References 

Havíř, D. (2019). Building Competitive Advantage through Customer Experience Management.  Acta Academica 19 (2), 28-41. 

Jeon, J. E. (2017). The impact of the brand concept on brand equity. Asia Pacific Journal of Innovation and Entrepreneurship

Klein, K., Völckner, F., Bruno, H. A., Sattler, H., & Bruno, P. (2019). Brand Positioning Based on Brand Image–Country Image Fit.  Marketing Science 38 (3), 516-538. 

Kumar, V., & Kaushik, A. K. (2020). Building consumer-brand relationships through brand experience and brand identification. Journal of Strategic Marketing 28 (1), 39-59. 

Robertson, J., Lord Ferguson, S., Eriksson, T., & Näppä, A. (2019). The brand personality dimensions of business-to-business firms: a content analysis of employer reviews on social media.  Journal of Business-to-Business Marketing 26 (2), 109-124. 

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StudyBounty. (2023, September 15). How to Rebrand Your Business the Right Way.
https://studybounty.com/how-to-rebrand-your-business-the-right-way-coursework

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