What is a Brand Strategy?
A Brand Strategy is a long-term plan for the evolution of a successful brand and the growth of its brand equity.
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Marketing for Managers
This video is part of course module number 8.3.1
Program 8: Managing Customers & Clients
Course 3: Marketing for Managers
Section 1: Brands and Branding
Other videos in this section include:
🎬 What are Brands and Branding? https://youtu.be/SCKf1gy0Gio
🎬 What is Brand Management? https://youtu.be/GHSyuK6-qpk
🎬 What is a Brand Marketing Plan? https://youtu.be/mvUe3Cdoh-Q
A brand strategy needs to align with the wider business strategy.
Eight Components for Your Branding Strategy
What does your brand promise to its customers? What are the objectives of your brand?
Buying decisions are usually emotional. Facts are just what customers use to justify their choices. So, what emotions does your brand evoke, and how?
What are the brand elements you need to reinforce in a consistent way? And how will you maintain that consistency?
Too much consistency can leave a brand feeling outdated. How will you riff off your branding to keep your brand feeling fresh – yet remain true to its core values?
5. Employee Involvement
How will your employees act as ambassadors for your brand? This goes beyond enforcing consistency in the use of brand assets. It’s about authenticity to brand values.
6. Brand Loyalty
Creating brand loyalty is the ultimate goal of a brand strategy. You want people to default to your brand, ahead of any of its competitors.
7. Competitor Analysis
You need to keep an eye on your competitors, so that you can adjust your products and messages to keep your brand at the forefront of customers’ perceptions.
8. Extending the Brand
Sometimes a brand will reach its potential. How will you extend its value by:
a. Extending your product line? (New sizes)
b. Adding new product categories to your brand (apple air tags)
c. Redeveloping a product under another brand
d. Launching a new brand
1. Look at one of the brands that your employer owns. Go through each of the eight components of their brand strategy. Assess the nature of the strategy under each of these headings. (8 MC CPD Points)
📖 Branding: A Very Short Introduction https://geni.us/gGPWw8
📖 Branding For Dummies https://geni.us/cO4oPC
📖 The Brand Gap https://geni.us/cureu6
📖 Building a Story Brand https://geni.us/getCcr1
📖 Designing Brand Identity https://geni.us/DxzHwI6
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