BRAND STRATEGY Meaning and
Definition
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Brand strategy refers to a comprehensive plan formulated by a company or organization to establish and develop a particular brand in order to achieve predetermined business objectives. It is a high-level roadmap that outlines the key elements and tactics required to enhance brand equity and market presence.
A brand strategy focuses on identifying and defining the unique qualities and attributes that differentiate a brand from its competitors. It involves identifying the target audience, understanding consumer behavior and market trends, and establishing brand positioning. This positioning aims to create a distinct and favorable perception of the brand in the minds of consumers.
The strategy also encompasses brand messaging, which involves developing a consistent and compelling message that communicates the brand's core values, benefits, and promises to customers. Additionally, it includes brand identity components, such as the logo, tagline, color schemes, and overall visual representation, which contribute to brand recognition and differentiation.
Brand strategy is instrumental in guiding all marketing and communication efforts, as it helps determine the appropriate channels, tactics, and campaigns that will effectively reach and engage the target audience. It provides a framework for decision-making, ensuring that all brand-related activities align with the overall strategic goals and objectives.
Overall, brand strategy plays a crucial role in shaping and nurturing a brand's identity, establishing strong brand equity, and ultimately driving business success through increased customer loyalty, market share, and profitability.
Etymology of BRAND STRATEGY
The word "brand" is derived from the Old Norse word "brandr", which means "to burn" or "burning". In ancient times, branding referred to marking livestock with a hot iron to indicate ownership.
The term "strategy" has its roots in the Greek word "strategia", meaning "generalship" or "the art of command". In ancient Greece, strategos referred to a military commander who would plan and execute the overall tactics of a battle.
When these two words combine to form "brand strategy", it refers to the planning and implementation of tactics and techniques to build and manage a brand. The concept of branding has evolved from merely indicating ownership to encompass a range of activities aimed at creating a distinct identity, positioning, and perception for a product, service, or company.
