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What exactly is a brand strategy and why is it needed?
Here brand strategy is briefly summarized! We'll take the simplest first. The word brand is, in short, a product associated with a trademark. An example of this would be Nike and Nike shoes. So when we say brand strategy, this is about taking the brand and attaching a feeling/relationship to the product, or the brand.
The value of a strong brand
The biggest companies we know of today all have some form of strong brand strategy behind them. Apple with its simple but great design and that encourages the user to not be afraid to think differently. Nike and their association with sports and slogan “Just Do It,” or Redbull and the sense of extreme sports and excitement.
Although we like to think that we run in Nike because they are good running shoes, this is probably not the full truth. Nike isn't a shoe manufacturer, they don't actually own any factories at all. Factories in China and Vietnam are being outsourced to produce the shoes for Nike.
You see, it's not a lack of knowledge about how to produce Nike shoes, but rather the strong brand association of consumers that makes it absolutely impossible for factories to sell the exact same shoe without the Swoosh logo.
The relationship between brand and target audience
The purpose of a brand strategy is therefore to create a relationship between your brand and your target audience, so that despite the similar qualities of your competitors, your customer group will choose you as the result of you representing something to them. That they feel that they know your brand and feel faster when, for example, they put on those Nike shoes that you produce.
Need help creating your own brand strategy? Get in touch with us in Link Development for a chat then wealth!
Sources:
The marketing managers - how to create a brand strategy
Marketing Management, Kotler and Keller
By Vegard Kallhovd and Adis Mujanic
