What You Need to Know About Brand Strategy
In a crowded marketplace, fitting in is a failure. In a busy marketplace, not standing out is the same as being invisible.
– Seth Godin
Competition is all around us, no matter the industry. In a globalised world, we compete with businesses around the world, and new technology and trends keep appearing now and again, shifting the population’s focus and warping market demand.
We sometimes see the unfortunate news of long-running companies like ‘Toys R Us’ and RadioShack shutting down, acquired or merged. Competition as we know it, is getting fiercer. Its effect is non-discriminative towards small or large companies as a whole.
Various strategies are developed by companies to stay competitive. Of the more important strategies that growing companies need is a brand strategy. Brand strategy shapes one of the company’s greatest asset of all; its brand.
With the massive amount information your customers are exposed to, it is imperative that your brand stands out and be noticed. Some global brands have successfully made their way to the top that merely saying their name would make people regardless of culture and nationality to have the same idea. Brands such as Coca-Cola, Google and BMW have become communication symbols of their own.
Therefore, decision-makers need a strong brand strategy. A good brand strategy acts as a guide in the playing field, deciding on tactics to employ and directing the game to win over your customers. It evaluates your customers and your opponents. It provides a profile of who you are as a brand, who your customers are and where you stand in the game.
Whether you are a start-up, a medium sized business or a large company, you can benefit from investing in the development of your own brand strategy. Use The CEO’s Strategy Playbook: The Brand Building Playbook for Business Leaders, an information-packed guide that uses the very same processes and methodologies that our brand consultants use. Available for download for a limited time only.