A brand is only the face to a product; the brand strategy is the flesh behind it. Your brand strategy is necessitated by brand development which is essentially the process of creating and strengthening your brand.
Brand strategies are a chain of activities that are directly aimed towards building a feasible brand. They are ordered by competitive positioning strategy – market profile, customer segments, competitors and the strengths, weaknesses, opportunities and threats of the landscape of the industry
It begins by identifying your target client group. Every product is directed towards a certain group of people. Identification of the target group is followed by research of the same – marketing research. This enables one to understand what the target group desires of a product, the weaknesses of other products, how to bridge such weaknesses and to eventually build a healthy clientele base. Marketing research is complex yet very productive if any product is to gain popularity and generate income.
Equipped with such, one can proceed to develop a name, logo and a tagline for their product or service. Logos and taglines have been known to have a great effect to consumers. That is hardly enough; it goes farther to developing a content marketing strategy which would involve keeping a blog, putting up a website, creating social media pages. Content marketing keeps the brand alive even in the absence of the product.
A brand strategy must have a clear cut purpose for the brand. It must maintain consistency so that there are no overlaps about what you say about the product and what it actually is. Honesty is always the best policy.
Considering that the consumer is not always rational, making them part of brand is a fine brand strategy. Some organisations call their customers and write to them and this ensures they build on customer loyalty. This has hence made certain brands more successful than other just by the customer involvement.
It is necessary that a brand strategy incorporates competitive awareness. Using competition to improve your brand is a good defence. Key to market research is to establish other products in the market and preparing growth charts against them to maintain healthy competitiveness.