15 Elements of a Successful Brand

8. Competitive advantage: Brand managers try to understand and demonstrate their product's or service's competitive advantage. Wal-Mart's(WMT Quote) competitive advantage is offering products at the lowest prices. Tiffany's(TIF Quote) brand is viewed as a high-end provider of jewelry worn by kings, queens and titans of business. Both companies embrace their reputations.

9. Use local language: Marketers have to understand the language of the culture they are marketing to. Some names for products work well in some languages and are disastrous in others.

10. Symbols and logos: The right symbol is memorable and easily recognized. The letters "G" and "E" connected for General Electric.

11. Color: Color can play a very significant role in any successful company. With IBM(IBM Quote), it is the color blue -- which is why they are called "Big Blue." With Coca-Cola, it is the white lettering with red background. Those colors are recognized by everyone.

12. Shapes: The globe for AT&T(T Quote) is universally recognized. It makes a statement that AT&T serves companies worldwide.

13. Words: Words can be used in a variety of strategic ways, from being descriptive of the company's product and service to memorable taglines such as GE's "We bring good things to life," Nike's(NKE Quote) "Just do it" and Timex's "It takes a licking and keeps on ticking."

14. Consistency of message: Consistency of message means that the pictures, words and actions all reinforce the same message. The Ritz Carlton hotel chain shows pictures of beautiful hotel rooms in their ads, the rooms contain plush towels and warm comfortable robes and the descriptions of the experience a guest will encounter leave readers of articles about the hotel dreaming of enjoying the good life by staying there.