Topic > A brand strategy always guarantees success - 1870

A brand strategy always guarantees success This essay aims to define brand strategy and whether a brand strategy is possible for all brands. It will also examine the ability and level of differentiation between different types of products and examine how a brand strategy can lead to success. Furthermore, the essay intends to shed light on whether or not these themes are transferable to all products and services. According to Trott (1998, p.365), 'Brand strategy is the cutting edge of the organisation's competitive intentions. Bring the company or product name to the market and show how it is positioned to compete.' A brand strategy is a tool used by companies to give buyers a reason to buy their particular product over other companies. In Baker 2000, p.24, Porter concludes that “strategy is about making trade-offs in competition. The essence of strategy is choosing what not to do.' Types of brand strategy include targeting, positioning, pricing, marketing communications (advertising and direct marketing), media allocation, and customer services. The brand strategy is based on differentiation and added value. It doesn't have to do with the product itself but instead focuses on non-material things surrounding the product: to reiterate, differentiating the product would mean gaining a competitive advantage. Advertising is often used to achieve this, with studies showing that the more familiar the customer is with the product or service the greater the differentiation between that particular product and others. Here we present the model designed by Pine and Gilmore which shows the four stages of differentiating raw materials, easy to handle products, transferring products into services, creating a product experience....... middle of paper .. .... and in the market and educate all employees to the new philosophy, otherwise work will not be possible. Summarizing a brand strategy does not always guarantee success because, as precisely demonstrated, each element of the brand strategy must be implemented correctly and, depending on the product class, your product falls within the ROI while it can increase sales and customer loyalty customers slightly may not be enough to ensure success. Bibliography Barker, J. (2000) Marketing Strategy and Management, Basingstoke, Palgrave. Trott, P. (2005) Innovation Management and New Product Development, Harlow, Prentice Hall. Pickton, D and Broderick, A (2005) Integrated Marketing Communications, Harlow, Prentice Hall.Reizebos, R (2003) Brand Management, Harlow, Prentice Hall.Lambin, J (1993) Strategic Marketing, Maidenhead, McGraw-Hill Book Company Group..