A brand is a kind of "face" of a company, behind which are hidden scientific and technical achievements, features of a product or service, its practical properties and scope. A potential client sees in the brand the company's reputation, quality, reliability and recognition brand strategy consulting services.
In modern business, it is not enough to create a certain product that surpasses competitors in terms of technical or operational parameters - it is necessary to achieve brand awareness and subconscious acceptance by potential customers.
Promotion of a company's brand is a set of measures aimed at finding a target audience and creating a positive image.
The life cycle of a brand is determined by three stages:
- creation (development) of a brand;
- development of a brand promotion strategy;
- maintaining the existing image and further expanding the target audience.
At each stage, marketing knowledge is used, information is collected and processed, funds are invested and specialized knowledge is applied.
Company brand development process
Brand development is based on marketing research and takes place in two stages:
- preliminary studies. At this stage, the market for the sale of products or services is studied. The selection of information is carried out according to the following criteria: a review of similar brands, analysis of competitors' behavior, the planned place of the brand being developed (category in the market) and characteristics of the sales market (dynamics of development and the degree of filling the profile direction);
- naming. This is the process of developing a brand name. High-quality development and brand promotion is impossible without a brand name. When choosing a name, the phonetic factor, the length of the words in the name, the specificity of the region, the link to the direction of activity are taken into account. A bright, capacious and interesting name is easier for a potential buyer to remember and is always associated with a specific product or service. For example, the conventional brand "Dairy Farm" for the buyer will mean fermented milk products - kefir, milk, yogurt.
Features of the company's brand promotion
After the development of the brand, brand promotion activities are carried out. The task comes down to finding a target audience and informing people about the properties and qualities of a new product or service.
The brand promotion strategy is based on the following criteria:
- the place of the company in the market;
- emphasis on the strengths of the brand (prestige, quality, price, prevalence);
- taking into account the specifics of the region in which the trademark is being presented. For example, residents of a metropolis will be attracted by a new brand of expensive handmade furniture, while in small towns the advertising campaign of such a brand will fail;
- additional benefits that competitors do not have (extended warranty, service center or support).
Maintaining the image
Brand promotion is a cyclical process that is carried out continuously at regular intervals. Any product or service becomes obsolete over time and cannot constantly attract the attention of consumers.
To maintain the reputation, the brand is renewed, new development strategies are developed, the cost is reduced or the quality of services is improved. To maintain their image and improve brand loyalty, companies participate in industry exhibitions related to their line of business. Such exhibitions are held at the Expocentre Fairgrounds