Brand is the description of representations, opinions, associations, emotions, values in the minds of consumers.
Product an association of the target audience symbolizes any special quality or characteristic of the manufacturer of product by itself. One of the important components of the product is the product reputation.
Branding is a complex set of activities the aim of which is to create a positive image about a product or service. In other words it is the market research, product positioning, selection of a brand and slogan, packaging and so on.
The branding strategy strengthens the brand.
Branding consists of the following steps:
1. Setting goals
- Analisys of the mission of company or organization (enterprise).
- Clarification of the place and position of the brand in the brand structure of the company or organization.
- Determination of a desired state of a brand (qualities, life cycle, competitive advantages).
- Formulation of measurable product parameters (KPI).
2. Planning of a project
- Analysis of available resources (financial, human, knowledge, etc).
- Specification of the project duration.
- Clarification of limiting factors.
3. Analysis of the current state of the product brand (only for available products)
- Increasing the awareness of the target audience.
- Knowledge of the brand of the target audience.
- The attitude of the target audience towards the brand.
- The loyalty level towards the brand.
- Determines whether the current state of the brand meets the desired level.
4. Analysis of the market situation
- Analysis of competitors (variety, target audience, positioning, means of promotion, prcing).
- Analysis of the preferred target audience (characteristics, preferences). Consumer behavior patterns.
- Sales markets (demand, share, dynamics)
5. Defining the essence and key points of the brand
- The aim, positioning and usefulness of the brand for the target audience.
- Personality: values, associations, traits, competitive advantages.
- Brand attributes (name, logo or trademark, essence or character, font, packaging, etc.).
6. Strategy of managing brands
- Development of rules for the creation of branding materials and description of brand management procedures (brand-book).
- Clarification of the list of people responsible for brand development (brand guardians).
- Development of an actions plan for brand promotion.
- Development of a plan and procedures for brand monitoring and assessments of outcomes.
7. Brand promotion – Integrated marketing communication
- Preparation of advertising materials
- Placement of advertising materials in information sources
- Development of projects intended for loyal customers.
8. Brand monitoring and efficiency evaluation
- Monitoring of specified measurable indicators in the first stage.
- Comparision of the current state of the brand with desired results.
- Tweaks of a strategy or tactic.