Developing a successful brand strategy is essential to the success of your business. The name of your company, the product that you sell, and the overall impression, style, and perceived direction and mission of a business or company.
This article will describe some instances in which a branding strategy or rebranding strategy can be beneficial, and some of the steps involved in the creation of one.
A brand can be solidified and recognized by logos, customer service, and by the family brand under which it is marketed. This is also called family brand, and companies like Disney and Coca Cola incorporate this strategy into their marketing plan.
Disney yogurt, for example, may feature pictures of Mickey Mouse and the Magic Kingdom logo on the box. This connects the product to the Disney Corporation as a whole in the mind of the consumer. When the same consumer purchases a Disney movie, Disney licensed clothing, shoes, or sunglasses, they are showing a brand preference, which is the goal of any effective marketing strategy.
Newer companies work hard to establish their brands, employing marketing teams in house or employing outside marketing and branding experts, with the goal of making sure that any time that a consumer comes in contact with anything associated with a specific company, the brand for that company is reinforced in the minds of the consumers who do so.
Older companies may decide to undergo a rebranding process as their business expands, comes under new ownership, or attempts to appeal to a different demographic.
Many large companies, including McDonalds, have done this successfully. Initially, the restaurant was a take out eatery, but as more and more people, namely families, began to frequent it, the company realized that it could make more money and attract a larger demographic by redesigning and remodeling their restaurants in order to accommodate booths and tables.
Other companies, mainly tobacco companies have gone through more dramatic rebranding, in order to keep abreast with trends, new research, and the general public opinion and consensus of their products.
A brand is a company first chance to make a good impression on the minds of consumers, investors, employees, and anyone associated with, or potentially associated with, a product or service.
Development of a logo, of a set of standards, of a mission, and even of a color scheme for franchises all contribute to this overall feel of a company, product, or service.
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