Brand strategy is a process of creating a consumer’s subconscious image of a product or a product group. In the context of the oversupply of products and severe competition, this correct image «helps» customers make the decision in favor of the company while shopping.
The first step in elaborating a product positioning strategy is to create a brand identity. The brand identity is a sophisticated and summarized set of unique features and traits exclusive to a specific group of products. When the customer faces a difficult choice, the brand identity is the factor that pushes him to make a «correct» decision. A bitten apple, its own ecosystem, and unique Thunderbolt interface are vital identity elements of one of the most recognizable brands.
Determining the unique selling points
A unique selling point or USP is the second most important pillar of a marketing strategy. This term, introduced in 1961 by an American marketer, remains still relevant today. Determining the unique selling points considers the following three principles:
One-of-a-kind offer. This product is better than anything else on the market.
2. Necessity. Consumers need the product to solve specific tasks or problems.
3. Possibility. Consumers have to perceive that there are no hindrances to buying the product; the product is not a murky future but a ready market offer.
Determining communication channels
After forming the product as a complex offer, the advertising campaign starts. The efficient promotion of the product depends a lot on appropriately developed advertising. Although without elaborated communication channels, even the most correct ad may appear ineffective. A communication channel means a physical space where a final consumer gets the relevant information. According to the structure, the channels split into primary – TV, radio, Internet, and secondary – social networks, light boxes, ads on product packaging, etc.
To find the correct channels, one shall study the target audience thoroughly and match it with the most appropriate communication means. For instance, it is senseless to advertise the most modern lingerie in hunting and fishing magazines.
Correct distribution of roles is another pillar for a successful promotion. It includes identifying the primary and secondary goals and determining personal responsibility for the implementation of every paragraph of the commercial strategy.
The final step is the development of a project ID. This document contains all previously made decisions expressed as plans, charts showing how to achieve results, step-by-step goals and methods to achieve them, and the persons in charge.
