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Transcript of Brand Strategy
In today's business market, there are so many varying products that it is important to find a gap in the market.
A company must have the ability to differentiate themselves from rival companies by carving out a spot in the competitive landscape.
In order to do this, companies need to focus on
A long term plan to develop a successful brand in order to allow businesses to achieve their goals
How, what, where, when and to whom you plan on communicating and delivering your brand messages
A well-executed brand strategy affects and targets consumers' needs, emotions and desires
In order to create a successful brand strategy, businesses need to keep in mind the following...
Pricing affects the way potential customers view the product: the quality, target audience, loyalty, willingness to buy etc.
A good website should match the in-store experience of a business.
Is it accessible?
ex. International access
ex. Does the website appeal to its audience?
Is it informative?
ex. Does it give you the information you want/need?
Sales Literature and Tools
They help communicate and strengthen your messages. They reinforce your company values and create a lasting impression on your market.
ex. Company brochures, case studies, websites, newsletters etc.
How do you portray your brand or company? What does your company have to offer?
ex. eco-friendly, no animal testing, organic, supports charities, supports individual needs etc.
The overall image of a company in the minds of a diverse audience. It answers questions such as "Who are we?"
The literal naming of the brand or company. An effective name helps customers understand and recognize what your business does and which market you are targeting. The wrong type of name can confuse customers and drive costumers away.
- Understanding customers' needs
- Maintaining good interactions between the company and their customers
- Analyze and manage customer interactions with the goal of improving customer relations with the business.
ex. technical support, customer services
Customer Relationship Management
THE BIG PICTURE?
There are many aspects that contribute towards creating a successful brand.
All of the elements of brand strategy become the building blocks towards creating the most profitable brand for a company.
It is essentially where a company or brand will choose to sell their product for the most revenue.
A brand may choose to retail their product at a big-box location.
Ex. Walmart sells makeup from brands such as Revlon and Maybelline
- reach the target market
- remain memorable in the consumer's mind
- short and sweet