Glossary

Like any industry, strategy consulting has specific terms which may seem overwhelming. To ensure we are speaking the same language, here is a quick reference guide of key terms and definitions.

Best practice
An analysis of a best practice brand (in or out-of-category), with the purpose of applying key learnings to the subject brand.
Brand
A mix of tangible and intangible attributes managed to create value for organizations and customers. It includes the physical representation of a company’s offerings and values, but also lives subjectively in a person’s mind. This is mainly influenced by a person’s comparison of the brand promise versus their perception, experience, and interaction with an organization, product or service. As Jeff Bezos says: "Your brand is what other people say about you when you're not in the room."
Branding
Branding is the process of creating a unique image for your company in the eyes of your customers. It includes the brand's positioning, name, visual identity, voice or any other feature that distinguishes one seller's good or service from another.
Brand Architecture
An organizational structure that specifies the type, relationship and purpose of the brands within a business portfolio. It’s the decisions and strategy behind how the brands of a company relate to and differ from each other.
Brand Audit
A thorough examination of a brand to uncover current performance, positioning and insights. A brand must be audited in order to identify its strengths, weakness and opportunities for change, or new initiatives.
Brand book
A comprehensive document outlining the core elements of a brand (positioning, target, logo, color palette etc). The brand book helps employees, external agencies and vendors understand the brand’s guidelines and how to apply the brand assets across various touchpoints. Synonyms: Brand Guidelines, Brand Standards, Style Guide.
Brand essence
The human characteristics that distinguish a brand, helping the target emotionally connect to and build a relationship with the brand.
Brand Equity
The perceived worth of a brand. Companies can create brand equity by making their products/services memorable, easy to recognize, and superior in quality and reliability. Customers will pay a price premium to do business with brands they know, trust and admire.
Brand Extension
Leveraging the values of a brand to extend into new markets/sectors. Research and analysis must first be conducted on the new category/offering, to see if the values align and if a brand extension is possible.
Brand Name
Your name is your brand’s story distilled to its shortest form. It acts as a shortcut to help consumers make a quick decision when navigating the competition.
Brand Personality
The human characteristics that distinguish a brand, helping the target emotionally connect to and build a relationship with the brand.
Brand Story
A cohesive narrative that encompasses the facts and feelings created by a brand.
Brand Strategy
A brand strategy defines what a brand stands for – it’s who the brand is on the inside. It is the crucial step involving research and analysis to identify the brand’s competitive positioning and how it can be brought to life in a way that is most relevant to the target’s needs.
Competitive Audit
Analysis of competitor brands to help identify how the subject brand can differentiate. When relevant, indirect competition may also be considered.
Employer Value Proposition (EVP)
A strategy that establishes the organization’s unique identity as an employer, with the goal of attracting new employees, as well as for engaging and retaining existing employees. Ultimately, an EVP gives people the reasons to choose and stay with one organization over another.
Experience Principles
Experience principles describe the mandatory qualities of how an interaction with a brand should feel. Through experience principles, we can design a consistent brand experience for consumers.
Investor Presentation
A concise presentation that tells the story of your company in a simple and compelling way to potential investors.
Insight
A universal truth shared by the brand’s target audience.
Masterbrand
Under the discipline of brand architecture, a masterbrand is a brand name that dominates all products and services in a specific range or across a business. The masterbrand can be used with a sub-brand or with alpha/numeric signifiers. Examples: BMW 7 Series, BMW X3, Mercedes-Ben C-Class, Mercedes-Benz SLS AMG.
Positioning
The unique place that a brand occupies in the consumer’s mind (and heart).
Positioning Statement
A written description of the position a brand wishes to occupy in the mind of its target audience. The positioning statement explains how the brand is unique in its defined market and the strategic proof to support this claim.
Private Label Brand
Products which are manufactured by a third-party company, but are sold under another company's brand. Private label products are found in many industries, from food to cosmetics.
Re-brand
The act of updating or revising an existing brand. The decision to re-brand often comes after a merger, acquisition or the realization that the company has evolved and its brand is no longer aligned with who they are today.
Reason to believe (RTB)
Attribute or quality that strategically supports the unique value of the brand.
Sub-brand
Under the discipline of brand architecture, a sub-brand is a subsidiary or secondary brand created under a masterbrand. A sub-brand benefits from the masterbrand’s name recognition and consumer loyalty. Examples: Coca-Cola Zero, Samsung Galaxy, Virgin Atlantic, Apple AirPods, Gilette MACH3.
Tagline
A tagline accompanies a brand’s name and communicates the brand’s positioning in a concise and distinct catchphrase. The best taglines are memorable and can represent the brand without even stating the brand’s name. Example: Nike’s “Just do it” or Disneyland’s “The happiest place on earth.”
Target
The key audience, to whom the brand is oriented toward.
Tone of Voice
The brand’s character in terms of its verbal language. The voice of the brand should be consistently delivered across all communication channels.
Touchpoint
Any interaction the target has with a brand. Touchpoints help brands build lasting relationships with target consumers. Each touchpoint should be consistent with the brand’s look and feel. Examples: Website, social media post, business card, online review.
Values
The core beliefs that determine how a brand behaves and is perceived.
Visual Identity
What the consumer pictures in their mind when they hear a brand name – or put simply, what a brand looks like. The visual identity encompasses all visual inputs of a brand: logo, typography, color palette, photography, key visuals, graphic elements etc.
Wordmark
A unique typographic logo of a brand’s name – without other visual elements. Examples: Google, Sony, Coca-Cola.