Brand strategy

Brand Strategy is a long-term business plan developed for companies in order to convey their identity and values to (potential) consumers, positively influencing their perception and relationship with the brand. This strategy is an asset for companies, as it allows them to differentiate themselves from their competitors, adding greater value to the brand (Chandler & Owen, 2002).

Elements of Brand Strategy

To ensure the construction of a unique and effective Brand Strategy, companies should invest in planning strategies that use elements such as

• - brand purpose;
• - brand vision;
• - brand values;
• - brand voice (Dvornechuck, 2020).

Brand Purpose

At an early stage, companies need to identify existing problems in the markets, in order to develop innovative products that meet the needs of consumers. Thus, the Brand Purpose is characterized by the reason for its creation and the contribution it will make to the progress of society.

Brand Vision

It should be noted that it is crucial for companies to clearly define the objectives and goals they want to achieve for the purpose of guide their strategies. Furthermore, with a properly structured Brand Vision, the parties involved will walk in the same direction, contributing to the company's success.

Brand Values

Brand values are the beliefs and standards upheld by the company, which contribute to the development of a solid organizational culture. In this way, these motivations guide the behaviour and decision-making of companies, allowing them to differentiate themselves from their competition, while creating a close relationship with consumers who are governed by the same values. In addition, it is essential that companies establish values that mirror their actions, to convey a legitimate image to their stakeholders.

Brand Voice

After all the aforementioned elements are well defined, the company must find strategies to communicate them, in order to attract more consumers. In this way, Brand Voice reflects the character of the brand and the way it expresses itself in the market, being directly related to its identity. It is important to emphasize that the messages must be clear and consistent, in all communication channels used, with a focus on be perceptible to the target audience(s) to be reached.

Importance of Brand Strategy

As a result, companies acquire skills capable of defining a coherent Brand Strategy in the long term, promoting a set of important benefits for them. As mentioned before, consumers usually create greater connections with companies that defend the same values and, therefore, it is possible to develop an emotional connection, based on loyalty and trust, with them (Lisa Cron design, n.d.). In this way, companies will find it easier to develop and market new products, since these consumers will prioritize them, leading to an increase in the company's revenues and market share (Robb, n.d.). Finally, with a well-designed Brand Strategy, companies, from day one and in accordance with their identity, focus only on what is essential for the development of the business, allowing them to save time and money in the long term (Lisa Cron design, n.d.). In other words, they are governed by the motto “Invest now, to save in the future”.

Brand Strategy Conclusion

In conclusion, Brand Strategy is an organizational tool that enables the construction of a differentiating position in the market, allowing the company to play a notable role in society, contributing to the creation of value and its constant growth.

References

Chandler, J.M., Owen, M. (2002). Developing Brands with Qualitative Market Research. SAGE Publications Ltd.

Author: Ana Inês Jorge Gonçalves, Inês Espregueira Guerra Teixeira de Morais, Marta Gomes Ribeiro