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Nimble Agency x Magnetic Magazine: Branding - Magnetic Magazine

Nimble Agency x Magnetic Magazine: Branding

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Nimble Agency X Magnetic Magazine - Branding

According to Kotler et. al. the most distinctive skill of marketers is their ability to create, maintain and protect brands through their use of all marketing mix variables. Similarly, in the entertainment industry, building brands must be managed with great expertise, as it is a very expensive long-term development of a company. Numerous branding theories have been created in the past, including Kotler et. al., Keller, Gumble, Morrison and Coop. This article contains a number of these models, which you can use to form the basis of your branding strategy.

Brand identity

As more and more artists realize that the brand names associated with their products or services are among their most valuable assets, creating, maintaining and enhancing the strength of those brands has become an artist management imperative. From a management perspective, there are three main challenges to creating and managing brand identities, this process is represented in the model below.

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Initial brand elements

The initial brand elements are the initial choices for the brand elements or identities making up the brand. These include the brand names, logos, symbols, characters, slogans and music genre. Brand elements are those trademark-able devices that identify and differentiate the brand and are often the most tangible representation of the brand. The first step is the most vital, after which only all accompanying marketing activities supporting the brand and 3 associations indirectly transferred to the brand must be determined.

Related to the initial brand elements, Kotler et. al. developed six main benchmarks artists should ask themselves when developing a brand. Memorability: How easily is the brand element recalled, recognized, spelled and pronounced? Meaningfulness: Is the brand element credible and suggestive of the product or service? Likeability: How aesthetically appealing is the brand element? Transferability: Can the brand element be used to introduce new products or services in the same or different categories? Adaptability: How adaptable and updatable is the brand name or slogan? Protect ability: How legally protectable is the brand name, image or slogan? Answering these questions will help for the initial elements of the brand, including the name, genre, theme, logo’s, symbols, slogans and characters of your artistic imprint.

Accompanying marketing activities & Secondary Associations

Four of your main activities of you as an artist have influence on the brand identity, namely: customer segments, value proposition, customer relationships and channels. Customer segments identifies which classes your brand creates value for. Value proposition explains what you will deliver to the customer. Customer relationships classifies what kind of relationship the brand has with the customer. Channels determine the linkages through which the value propositions and the customer relationship will be delivered to the customer. Due to their impact on the brand identity of your artistic imprint, these four elements have to be perfectly aligned.

The secondary associations are the other associations indirectly transferred to the brand by linking it to some other entity. These ‘secondary’ brand
associations can link the brand to sources, such as your imprint itself
(through branding strategies), to countries or other geographical regions
(through identification of country origin), and to global supply chains or channels hosted by other artists and companies in the music industry (through channel strategy); as well as to other
brands (through ingredient or co-branding, including collaboration with other artists), characters (through licensing),
spokespeople (through endorsements), sporting or cultural events (through
sponsorship), or some other third-party sources (through awards or reviews).

Conclusion

Both for artists and enterprises in the entertainment industry, building brands must be managed with great expertise, as it is a very expensive long-term development of a company. A clear and executed branding strategy for the entertainment industry affects all aspects of your entity and is directly connected to consumer needs, emotions, and competitive environments. As your entertainment branding consultant, we give strategic advice in the process of establishing and developing your brand, creating a name, symbol or design that identifies and differentiates a product from others. By leading the journey of self-discovery, we help you create a brand that is derived from who you are, who you want to be and who people perceive you to be.

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