Strategic Brand Essay

720 words - 3 pages

Branding strategy is one of the most effective ways to sell a product or service. With the increased competition in the business industry an effective branding strategy makes products more popular. Branding strategy analysis includes market, customers, competitors and brand analysis. Branding strategy involves brand communications, analytical techniques and creative positioning. Evaluating the performance of the brand portfolios helps guide decisions on new products, modified products, and eliminating products (Cravens & Piercy, 2013).
The methods for analyzing product portfolio performance are:
Product life cycle analysis: determine the length and rate of change in the product life ...view middle of the document...

Before getting into the process of brand building, various elements for branding your products/services would need to be analyzed carefully. These key elements come into play by means of an appropriate action plan. A proper branding strategy begins with analyzing various measurable advantages of your product over your competitors. This leads to the execution of an effective branding strategy for your product.
Building a strong and unique identity is one of the most important procedures in creating a branding strategy. It includes unification of your brand, effective communication of your brand message, research methods, and various strategies. Internal branding helps to create a strategy within your business. This helps in developing your branding strategy in a much unique style. Brand targeting and positioning help you in defining things like your brand character, availability of your product in the market, and reputation of your product. All of these factors need to be taken into consideration.
It is always recommended to keep track of the strategy in all stages. Measuring your brand always helps you improve branding strategy for your business. It includes tasks such as tracking and measuring of your brand initiatives, measuring their performance, managing the visual identity of the brand, and maintaining a corporate reputation. Creative advertising is a tricky way in developing a branding strategy. In general, an effective...

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