Brand Strategy-Defining and Building Your Brand

For any business strategy, branding as the most critical aspect plays a significant role. So, if we want to develop a successful brand in this competition to achieve specific goals, we need a well-defined and executed brand strategy. But the question frequently asked by most people:

What does brand strategy mean?

Brand strategy is a long-term, inter-departmental plan used by a brand that encompasses specific, long-term goals. A well-designed brand strategy shows what we stand for, a promise we make, and the personality we convey to our customers. However, 'brand' is more than a logo, name, or slogan! Right? It is the entire experience customers have with any company and with the product or service they provide. Let's say we come to a difficult realization that the perfect brand strategy is what we need to make our brand glows among one of the top ten brands and survive in this competitive world.

Types of brand strategy

Individual Branding

Large companies with a variety of well-known products may opt for an individual branding strategy by giving each product its own brand name. For example, Apple is the parent company but relies on an individual branding strategy to market its different brands such as Mac, iPhone or iPad.

Attitude Branding

Sometimes a company will rely on an overall feeling or attitude to market its products and reflect its business. This branding strategy brings the business to life by marketing a larger feeling to create an emotional connection between the brand and its customers. Brands such as Nike use attitude branding not only to sell athletic shoes, but also to promote a healthy lifestyle that aligns with its infamous slogan, “just do it

Brand Extension Branding

An existing strong brand may decide to extend its success into a new venture with effective use of a brand extension strategy. Many clothing companies use brand extension strategies to launch a new line of shoes, fragrances or accessories. The products may be different, but the brand identity stays the same.