All new business owners know the importance of planning with brands. Though there are a number of companies and service providers who achieve success without any brand development strategy, most in time will realize that brand planning is needed to continue on to the next level of success. If a company decides not to venture toward brand development, they will run the risk of losing any existing consumer loyalty and could become dangerously stagnant.
In most cases, planning of your brand starts with an exploratory and experimental phase. During this phase companies can work to review previous strategic material as well as conduct precious consumer research testing. Some companies will also complete thorough management interviews to gain perspective on what others feel the company stands for and symbolizes to potential consumers.
Once all of the information from this initial discovery phase is collected, companies can then move on to the brand development and definition process. To complete this secondary phase successfully some companies choose to bring together a branding team which in addition to finalizing any needed brand planning will also work to build company moral and gain employee support for the newly branded product.
During these two initial stages it is important for everyone involved to focus on the five fundamental elements of brand planning which include:
1. Creating a vision for the brand
2. Considering unique brand positioning to achieve brand deferential
3. Bring “personality” to the brand
4. Develop a list of qualities and/or benefits which the product can provide for customers
5. Define the values represented by the brand
Staying focused on these five fundamental elements will not only help a company remain popular but also assist in developing brand loyalty by ensuring that all of the brands qualities are adequately presented to consumers. If a company is struggling to work through the first two stages of planning brands and are having trouble achieving the five points mentioned above, then the hiring of a branding firm may be beneficial.
Brand planning can seem like a challenging task, but the truth is by thinking creatively, listening to their consumers and by considering the five aspects of brand planning even the smallest of companies can achieve branding victory!
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