Why is brand strategy important [Video]

Last updated : Sept 2, 2022

Why is it important to have a brand strategy in marketing plan?

Branding is crucial for products and services sold in huge consumer markets. It's also important in B2B because it helps you stand out from your competition. Your brand strategy brings your competitive positioning to life, and works to position you as a certain “something” in the mind of your prospects and customers.

What are the benefits of branding and branding strategies?

• Showcase your commitment to customers.
• Work on the right business activities.
• Drive emotional reactions from customers.
• Align your employees and foster productivity.
• Cultivate a stronger company culture.
• Build financial value for your company.
• Promote growth in your marketing and sales.

Why is strategic brand management important?

Strategic brand management is meant to support companies in getting (or improving) brand recognition, boosting revenue, and achieving long-term business goals. Managing a brand can (and should) include a multitude of aspects, from centralizing digital assets to upholding brand consistency across various touchpoints.

What does brand strategy mean?

Brand strategy refers to a long-term plan that focuses on the development of a successful brand. The plan is used by businesses to create a particular image among current and potential customers.

Which strategies are important for branding?

• Core values.
• Strategic positioning statement.
• Ideal customer profile(s)
• Brand promise.
• The look and feel of your brand identity.
• Prioritized brand touchpoints and awareness-drivers.
• The voice and tone of your brand, as well as specific messaging.

How does branding benefit a business?

Brand Equity One of the most important benefits of branding is that it helps to promote new products and services. If people are loyal to a brand, they are automatically interested in whatever new the brand has to offer.

What are the benefits of using branding?

Branding increases trust, and trust is a pillar of customer loyalty. Your identity attracts customers because they can tell what you stand for, which helps them feel connected to you. When customers feel connected to a business, they're more likely to be loyal.

What is the impact of branding?

Not only does having a cohesive brand make it easier to market to different customer bases across different channels, it also raises the chances of being remembered by customers, increasing loyalty. A brand is more than just the business that markets a particular service or product.

What is the purpose and objective of managing a brand?

Brand management is a function of marketing that uses techniques to increase the perceived value of a product line or brand over time. Effective brand management enables the price of products to go up and builds loyal customers through positive brand associations and images or a strong awareness of the brand.

How do you develop a brand management strategy?

1. Create a list of company values.
2. Determine brand positioning.
3. Align brand positioning and values.
4. Create marketing materials.
5. Plan your marketing programs.
6. Monitor your brand's reputation.
7. Centralize your brand materials.
8. Measure and analyze your brand's performance.

What is brand strategy example?

A great example of their branding strategies is their “Think Different” campaign. They realized that their customers wanted to be great, innovative, game changers and different. They knew that their competitors were strong and could deliver good quality products, so how can they convince their customers to choose them?

How do brands benefit consumers?

Brands provide peace of mind. Consumers want comfort, happiness, and satisfaction in their lives, and they get it in part through the products they buy. If the brands they use consistently deliver a positive experience, consumers form an opinion that the brand is trustworthy, which gives them peace of mind when buying.

How branding can change your business?

Rebranding, following a smart rebranding strategy, can provide your business an opportunity to stand out from your competition by showcasing to your target audience the things that make your company different and better. Rebranding lets you tell a stronger brand story.

What is the goal of brand marketing?

The goal of brand marketing is to build a brand's value – and the company's value as a result. The channels available for a brand marketing strategy are the same channels that companies can use for product marketing activities, such as digital, social, and paid search advertising.

How can branding strategies be improved?

1. Do A 'Values Check' Branding isn't about your logo; it's about your message - what you're broadcasting to the world.
2. Know Thyself And Align.
3. Create High-Profile Events.
4. Use Great Photos.
5. Be True To You.
6. Become The Media.
7. Improve Your Culture.
8. Define Your Niche.

Who is responsible for brand strategy?

A Brand Manager is responsible for adapting a brand strategy for a company's target market. As the 'brand guardian', brand managers maintain brand integrity across all company marketing initiatives and communications, and may manage a portfolio of products.

How do you evaluate a brand strategy?

1. Product/Service Quality.
2. Product/Service Uniqueness.
3. Product/Service Features.
4. Product/Service Effectiveness.
5. Customer Service.
6. Price.
7. Innovation.
8. Market Share.

How a brand strategy is used?

Brand strategy is part of a business plan that outlines how the company will build rapport and favorability within the market. The goal of a brand strategy is to become memorable in the eyes of the consumer so that they decide to patronize your business over the competition.

What are the 4 types of branding strategies?

4 Brand Growth Strategies The four brand strategies are line extension, brand extension, new brand strategy, and flanker/fight brand strategy.

What is the value of branding?

Brand value is the monetary worth of your brand, if you were to sell it. If your company were to merge or be bought out by another business, and they wanted to use your name, logo, and brand identity to sell products or services, your brand value would be the amount they would pay you for that right.

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good afternoon ladies and gentlemen so well I'm not a video I'm like I'm here in front of you to speak about a very serious talk and maybe some of you guys could be very you know like very you know surprised about talking about strategy right now and I'm gonna try to to make it very easy in fact because I think the strategy is a is a very important thing but there is one thing which is more important thing than then the strategy itself is to understand the DNA the true DNA of your company to understand what is the vision or in other words to explain in a few seconds what makes your brand so different all right so you can think about your brand think about your company think about you service your products any project that you have online offline and try now to see what I'm going to show you because I'm going to try to convince you about the importance of owning a true particular unique vision why that well yes because there are thousands of brands out there thousands of people trying to do the same trying to speak up to do more noise than you and it's a journal so what can you make to you know fight against those guys well in fact there is one way you can just forget about it it's the word fighting and I had you know I learned another word which is you know make competition irrelevance make a project create something that becomes so unique that you're not trying to fight against the other guys but you're just trying to be alone in your place when we did hyt with my team about four four five years ago we created a company based on mechanical watch you know like a true watch working with the best watch maker just to name one automata gay as a content and we decided to bring something completely crazy which is liquid guess what liquid is the enemy of of mechanical movement for 500 years there by creating a movements with liquid indication system creates such a surprise that everybody will be like amazed not to say something else about some you know like a new products a new innovation in in in in this very traditional world so we created something you need and we made competition irrelevance we created something that nobody can bring hyt broads liquid and mechanical movements all together in a watch in a watch case so in fact just by explaining hyt right now with this idea of creating a paradox between liquids and mechanic I'm just what I'm doing I'm trying to dis intellectualizing everything in fact great and powerful ideas are very simple they are very simple and you should be able to in fact give the message to somebody else always say the same story I always say that with hyt the great thing is that they will remember me when I speak about hyt because they will remember my face the fact I'm bald and I have like transparent glasses and I you know I with my team we created a watch which is combining liquids and mechanics and even my grandfather my grandmother she could explain it she could give the message to somebody else she would not say oh he created a watch he was she would say he created a watch based on liquid systems because she will use the word everybody can understand and will remember this so powerful ideas are ideas that you can explain in a few seconds so think about your company think about your project and try to explain it in five seconds you should be able to do so if you if your idea is powerful if your company is powerful okay so today I'm going to do it like a magician because I know exactly what you have in your brain that's going to be easy and I'm gonna use the same type of example that you have seen today when you see this sign here and this word I exactly know what you have in mind you're not having the strategy of Tesla you don't know it what you have in mind is you know like strong images and I know them you all think of electricity you all think about you know the dashboard you know they just reinvented this very boring dashboard that we all have in a car by having this like iPad thing where everybody understand that everybody recognized this and everybody everybody remember it and you all think about this gentleman we just thought about him about him just before there are simple IDs I call them the marketing shortcuts you think about one name one brand or one person one city and you have automatically images in front of you so when you create something you better understand what you want people to see as an image or as words think about Geneva well again I exactly know what you have in mind guess what you have this for sure you have this for sure and most probably you also have this so think about you know Paris think about the cities it's also a brand a city is a brand a person sometimes also behave as a brand you you know give messages and the city is exactly the same thing so in fact what I saying here is you know always simple idea remains always simple idea you know you can you can have great strategies but at the end of the day it's the strategy the the great idea the strong ally that remains in your brain I'm going to take an example of Starbucks and I will try to expect this is a great example this is the one I really love it we are in 1993 okay at that time Starbuck is really really a place he where you know you don't want to spend time okay so some of you guys here are very young so you didn't you didn't believe that this time but I was living in New York in 1993 and in 1993 I can tell you that Starbucks was a great network of coffee like restaurants but it was like like more like a McDonald's than gentler than just like a lounge or a restaurant starbuck at that time was this it was like a cup with very bad coffee black coffee that gives headache and that the assistant would take and bring it up in the in the floor second floor to share the coffee in the morning and the problem with with Starbucks is that they were like greats you know like a great traffic of people buying coffee in the morning but then they was completely empty during the day okay and even worse than that starbuck was this so it was really really bad you didn't want to spend like a minutes so you go you take the coffee and then you have a headache that was the problem so what happened in 1993 there is one guy who is the owner still the still the CEO of the company mr. Schultz and he brought all those great talented people great minds and he asked the question he said guys what can we do to improve the traffic what to improve the business how can we make the traffic more intense from 9:00 a.m. to noon and in the afternoon because it's too empty what can we do and of course you can imagine that the company is a big company already that time it's already 300 points of says in the u.s. its massive its massive but it's all about quantity it's not really about quality which is typical American to be honest with you and he asked the guys you know around the table great marketing people gates product management people and he says you know what can we do guys bring me some IDs give me some food and of course we hear well let's create a new ad campaign well for sure there is a great marketing person who has got great ideas and and will

Thanks for your comment Iluminada Hartory, have a nice day.
- Cicely Tott, Staff Member

Thanks for this interesting article

Thanks brytanO your participation is very much appreciated
- Cicely Tott

About the author

Cicely Tott

I've studied occupational psychology at University of South Dakota in Vermillion and I am an expert in aerospace engineering. I usually feel bewildered. My previous job was retail sales department supervisor I held this position for 22 years, I love talking about digital arts and basketball. Huge fan of Peter Coyote I practice soccer and collect clothing and accessories.