Brand strategy is the long-term approach taken to develop and build a brand to meet organisational objectives and achieve the vision set for a business or organisation.
A well defined brand strategy takes into consideration:
- the customer profile including needs, expectations, behaviours, values, perceptions, purchase intent, preferences and how likely they are to recommend the brand to their friends or family.
- the customer journey of each customer type and a clear idea of the desired experience they should have at each stage of the customer life-cycle.
- the competitive environment and macroeconomic realities of the market the business or organisation operates in and;
- any wider economic factors or societal trends that may impact on the market, associated and related markets.