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Branding Strategy
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This article states six branding strategies that should not be ignored by the chief marketing officers. Branding of a product is the keystone in its progress. The new technologies used by social media, young generation or second screening, have made things challenging for the brands to think innovatively. The first branding strategy stated in the article is to provide such engagements to the consumers that others do not and to provide innovative and creative ideas for engaging the brand with the consumers. It's a fact about human nature that they like change, hence branding companies should refresh their strategies every year and be less predictable. The second strategy is to establish an identity that is easy to relate (Llopis, 2014). For grabbing the attention of the consumers, many brands complicate their unique value of proposition which frustrates their consumers and shareholders. The brand identity is powerful when it is always changing but in a relatable and straightforward manner. The third strategy is to provide a lifestyle platform that inspires people and communicates hope. Consumers expect that the message that is being conveyed by the brands should be inspirational and educational. The fourth strategy is to innovate with flawless timing and execution continuously. The significant point here is to provide innovative products at the right time. The brand should synchronize its launching of innovative products with the demands of the customers. The fifth branding strategy is to establish the true spirit of giving. It is a responsibility of the branding company to pay their gratitude and thankfulness to their customers. Through this approach, they will be able to gain the loyalty of the customers and a better place in the market. The sixth branding strategy is to serve in such a great way that it leaves a legacy behind. To make a legacy the branding company should be accountable and responsible for achieving the requirements of the customers. All these brand strategies are equally important for the sustainability and for gaining the ultimate satisfaction of the customers (Doyle, 2001).
References
Doyle, P. (2001). Building value-based branding strategies. Journal of strategic marketing, 9(4), 255-268.
Llopis, G. (2014, March 11). 6 Brand Strategies Most CMOs Fail To Execute. Forbes.
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