Brand Discovery Definition
Brand discovery refers to the process of studying the brand and understanding the unique value that it offers about customer needs, competition, and the marketplace. Brand discovery will disclose the strengths and weaknesses of a brand and also identify the most valuable brand offerings. Brand discovery is required to translate the abilities into values and to portray a brand that offers professional and emotional trust to customers.
Brand discovery will review various elements such as history, quality, target customers, vision, strengths and weaknesses, stakeholders, and market performance.
Brand discovery helps to understand ‘who we are’ as in most cases, many companies think that they know everything until they feel deeply. It helps to create a unified message to present to the outside world. It will ensure that all stakeholders such as senior management, employees, sales team, suppliers, etc. are all on the same page.
Brand Discovery Advantages
Advantages of Brand Discovery:
- Positions your brand well in a target marketplace
- Displays the abilities and values of your products
- Advantageous during brand awareness campaigns to scale marketing and messaging efforts across new channels and new audiences
- Brand discovery helps people to change brand perception – know better about the business and also can change how people think about your brand.
Brand Discovery Example
For example, Coriell Life Sciences (CLS), a commercial entity, spun off from the genomics industry pioneer – the Coriell Institute. CLS set its focus on enterprise pharmacogenetic testing (PGx). But the problem was that CLS’ marketing materials and the website were not in sync with the new mission.
The brand discovery program helped the company to re-position itself in the genomic testing marketplace. The brand discovery process helped CLS to understand key drivers and services offered. With this, clear messages were designed that resonated with the customers and medical professionals. The brand discovery process helped CLS in establishing a brand identity.