Positioning A brand strategy should position products relative to immediate competition. Media and Methods Explain the reasoning behind the platforms you chose to deliver your marketing message.
The brand name compels a customer to buy a product based on his emotional ties to what the brand implies, not necessarily quality or price; although quality and price are vital to brand life span. You may find, for example, that your target markets respond well to receiving email notifications of specials or discounts you are offering.
It is easier to understand the relationships between product lines, products, goals, initiatives, and releases when you can see them all in one view. As product leaders develop and adjust their product strategy, they zero in on target audiences and define the key product and customer attributes necessary to achieve success.
A golf course for example could position itself as having the best practice and training facility in the region, the facility that caters to golfers who are truly serious about improving their games. Because of this, they may choose to simply forgo any brand planning and strategy at all.
The main purpose of a strategy is to align executives and other key stakeholders around how the product will achieve the high-level business objectives.
Convey your brand strategy within the pricing strategy, sales and marketing strategy and company mission strategy. As the products become more popular and the brand name better known, the owner could begin wholesaling the products to specialty food stores or upscale grocery markets.
Your strategy defines the direction of your product and what you want to achieve. You can use this information in conjunction with demographic data to develop a successful strategy. These would be individuals who regard automobiles as more than transportation, but rather as a source of pride and an integral part of their lifestyle.
Considerations A brand and product strategy works in close concert with other vital sections of your business plan. Strategy is comprised of three parts: Vision Your vision includes details on the market opportunity, target customers, positioning, a competitive analysis, and the Go-to-Market plan.
They help you set what you want to achieve in the next quarter, year, or 18 months. Part of devising your marketing strategy is determining how best to communicate these compelling benefits to your target customers.
This also helps you to identify "orphan" goals or initiatives and adjust your plans accordingly. In your business plan this is called positioning -- describing where your company stacks up versus competitors in delivering what is important to customers. These other areas of the business plan feed off of the branding strategy.
Performance improvements Better reporting Expand into China Your strategy provides the foundation for planning your roadmap, defining your features, and prioritizing your work. The brand and product strategy provides the foundation that influences advertising campaigns, company literature, public perception and customer commitment.Chapter 5 Product and Service Strategy and Brand Management.
The Offering Portfolio. The Offering Concept the benefits or satisfaction provided to a target market The Offering Mix the totality of an organization’s offerings Slideshow by christmas.
Start studying Chapter 5: Product and Service Strategy and Brand Management. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Consistent, strategic branding leads to a strong brand equity, which means the added value brought to your company's products or services that allows you to charge more for your brand than what.
The brand of a product or service differentiated it from the competition. Today brand is a bit more complex, and even more important in today’s world of marketing. It’s the perception that a consumer has when they hear or think of your company name, service, or product.
About David Parker. David is a strategic marketing communications specialist with over 20 years of experience helping companies build their brand. He specializes in working with B2B organizations to create marketing strategies and programs that attract. The development of a new brand and often a new offering for a product class that has not been previously served by the organization.
Flanker Brand Strategy Adding new brands on the high or low end of a product line based on a price-quality continuum.Download