If you are running a famous brand company, you might be wondering which strategy best helps you to achieve your goals and maintain your competitive edge.
There is no one-size-fits-all answer to this question, as different brands have different strengths, weaknesses, opportunities, and threats.
However, there are some general principles and examples that can guide you in choosing the best strategy for your famous brand company.
In this article, we will explore what a brand strategy is, why it is important, and what are the key elements of an effective brand strategy.
We will also look at some of the best brand strategy examples from famous brands across various industries and learn from their successes and failures.
By the end of this article, you will have a better understanding of how to choose the best strategy for your famous brand company.
What is a Brand Strategy?
A brand strategy is a plan for the systematic development of a brand in order to meet business objectives.
It defines the purpose, vision, values, positioning, personality, voice, and tagline of a brand, and how they are expressed through various forms of communication and interaction with the target audience.
A brand strategy is not just about creating a logo, a name, or a slogan. It is about creating a unique identity and reputation for a brand that sets it apart from the competition and resonates with the customers.
A brand strategy also guides the decision-making and actions of a brand across all aspects of its business, such as product development, marketing, customer service, and social responsibility.
Why is a Brand Strategy Important?
A brand strategy is important because it helps a brand to achieve several benefits, such as:
- Differentiation: A brand strategy helps a brand to stand out from the crowd and create a distinctive image and value proposition in the minds of the customers.
- Recognition: A brand strategy helps a brand to build awareness and recall among the customers and increase its visibility and reach in the market.
- Loyalty: A brand strategy helps a brand to establish an emotional connection and trust with the customers and foster long-term relationships and retention.
- Advocacy: A brand strategy helps a brand to generate positive word-of-mouth and referrals from the customers and influencers who become its advocates and ambassadors.
- Equity: A brand strategy helps a brand to increase its perceived value and quality in the market and enhance its profitability and growth potential.
What are the Key Elements of an Effective Brand Strategy?
As mentioned earlier, there are seven key elements of an effective brand strategy that every famous brand company should consider:
- Purpose: This is the reason why a brand exists and what it aims to achieve beyond making money. It is the core belief or mission that drives a brand’s actions and decisions.
- Vision: This is the long-term goal or aspiration that a brand wants to accomplish in the future. It is the direction or destination that guides a brand’s journey.
- Values: These are the principles or standards that a brand follows and upholds in its operations and interactions. They are the rules or norms that define a brand’s culture and behavior.
- Positioning: This is how a brand wants to be perceived by its target audience in relation to its competitors. It is the unique selling proposition or benefit that a brand offers to its customers.
- Personality: This is the set of traits or characteristics that describe how a brand expresses itself and communicates with its audience. It is the tone or style that reflects a brand’s attitude and mood.
- Voice: This is the way a brand speaks or writes to its audience. It is the language or vocabulary that conveys a brand’s message and meaning.
- Tagline: This is a short phrase or slogan that summarizes or captures the essence of a brand. It is the memorable or catchy statement that represents a brand’s identity.
How to Choose the Best Strategy for Your Famous Brand Company?
Now that you know what a brand strategy is, why it is important, and what are its key elements, you might be wondering how to choose the best strategy for your famous brand company. There is no definitive answer to this question, as different brands have different situations and objectives.
However, there are some general steps that you can follow to help you choose the best strategy for your famous brand company:
Conduct an audit
The first step is to conduct an audit of your current brand situation and performance.
You need to assess your strengths, weaknesses, opportunities, and threats (SWOT analysis), as well as your target market, competitors, customers, and stakeholders.
You also need to evaluate your existing branding elements, such as your logo, name, slogan, website, social media, etc., and see how they align with your business goals and customer expectations.
Define your purpose
The next step is to define your purpose or mission statement. You need to articulate why your brand exists and what it stands for beyond making money.
You need to identify your core belief or value proposition that drives your actions and decisions.
Your purpose should be clear, concise, and compelling, and it should inspire your internal and external audiences.
Set your vision
The third step is to set your vision or vision statement. You need to state what your brand wants to achieve in the long run and how it plans to get there.
You need to outline your desired future state and aspiration that guides your direction and destination.
Your vision should be realistic, ambitious, and motivating, and it should challenge your status quo and potential.
Establish your values
The fourth step is to establish your values or value statement. You need to list the principles or standards that your brand follows and upholds in its operations and interactions.
You need to define the rules or norms that shape your brand’s culture and behavior. Your values should be relevant, consistent, and authentic, and they should reflect your purpose and vision.
Create your positioning
The fifth step is to create your positioning or positioning statement.
You need to determine how you want to be perceived by your target audience in relation to your competitors.
You need to highlight the unique selling proposition or benefit that you offer to your customers.
Your positioning should be distinctive, credible, and valuable, and it should differentiate you from the competition.
Develop your personality
The sixth step is to develop your personality or personality statement.
You need to describe the traits or characteristics that define how your brand expresses itself and communicates with its audience.
You need to choose the tone or style that matches your brand’s attitude and mood. Your personality should be appealing, engaging, and consistent, and it should resonate with your customers.
Craft your voice
The seventh step is to craft your voice or voice statement. You need to decide the way you speak or write to your audience.
You need to select the language or vocabulary that conveys your brand’s message and meaning.
Your voice should be clear, concise, and compelling, and it should support your personality and positioning.
Write your tagline
The final step is to write your tagline or slogan. You need to create a short phrase or statement that summarizes or captures the essence of your brand.
You need to make a memorable or catchy statement that represents your brand’s identity.
Your tagline should be simple, creative, and relevant, and it should reinforce your purpose and vision.
What are Some of the Best Brand Strategy Examples from Famous Brands?
To help you understand how to choose the best strategy for your famous brand company, let’s look at some of the best brand strategy examples from famous brands across various industries.
We will examine how they have applied the key elements of an effective brand strategy in their branding efforts.
Tesla — Brand Purpose
Tesla is a famous brand company that produces electric vehicles, battery products, solar panels, and other clean energy solutions.
Tesla’s brand purpose is to “accelerate the world’s transition to sustainable energy”.
This purpose reflects Tesla’s core belief that renewable energy is the future of humanity and that it can make a positive impact on the environment and society.
Tesla’s brand purpose is clear, concise, and compelling, and it inspires its internal and external audiences.
Tesla’s employees are motivated by the mission of creating innovative products that can change the world for the better. Tesla’s customers are attracted by the vision of being part of a movement that can make a difference in the world.
Tesla’s brand purpose also drives its actions and decisions across all aspects of its business.
Tesla invests heavily in research and development to create cutting-edge technologies that can improve its products’ performance, efficiency, and affordability. Tesla also engages in social responsibility initiatives such as donating ventilators during the COVID-19 pandemic, providing free charging stations for its customers, and supporting educational programs for students.
Tesla’s brand purpose is one of the main reasons why it has become one of the most valuable car companies in the world and one of the most admired brands in the world.
Starbucks — Brand Vision
Starbucks is a famous brand company that operates a global chain of coffee shops, roasteries, and other related businesses.
Starbucks’ brand vision is “to inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time”.
This vision reflects Starbucks’ long-term goal of becoming more than just a coffee company, but a social enterprise that can enrich people’s lives.
Starbucks’ brand vision is realistic, ambitious, and motivating, and it challenges its status quo and potential.
Starbucks’ employees are encouraged by the goal of creating meaningful connections with their customers and communities through their products and services.
Starbucks’ customers are enticed by the aspiration of experiencing more than just a cup of coffee, but a sense of belonging and well-being.
Starbucks’ brand vision also guides its direction and destination across all aspects of its business.
Starbucks expands its product portfolio beyond coffee to include tea, juice, food, merchandise, etc., to cater to different customer preferences and needs.
Starbucks also diversifies its business model beyond physical stores to include online platforms, delivery services, loyalty programs, etc., to increase its accessibility and convenience.
Starbucks also participates in social and environmental causes such as supporting fair trade, reducing waste, promoting diversity and inclusion, etc., to enhance its reputation and impact.
Nike — Brand Positioning
Nike is a famous brand company that produces and sells athletic footwear, apparel, equipment, and accessories.
Nike’s brand positioning is “to bring inspiration and innovation to every athlete in the world”.
This positioning reflects Nike’s unique selling proposition or benefits that it offers to its customers: the ability to enhance their performance and potential through its products and services.
Nike’s brand positioning is distinctive, credible, and valuable, and it differentiates it from the competition.
Nike’s employees are driven by the benefit of creating products and services that can empower and inspire their customers to achieve their goals. Nike’s customers are drawn by the benefit of using products and services that can improve their skills and abilities in sports and fitness.
Nike’s brand positioning also influences how it is perceived by its target audience in relation to its competitors.
Nike positions itself as a leader and innovator in the sports industry, with a strong focus on quality, design, technology, and customer satisfaction. Nike also positions itself as a lifestyle and culture brand, with a strong association with sports icons, celebrities, and social movements.
Apple — Brand Personality
Apple is a famous brand company that designs and sells consumer electronics, software, and online services.
Apple’s brand personality is “to think differently and challenge the status quo”. This personality reflects the traits or characteristics that describe how Apple expresses itself and communicates with its audience: the tone or style that matches Apple’s attitude and mood.
Apple’s brand personality is appealing, engaging, and consistent, and it resonates with its customers.
Apple’s employees are inspired by the personality of creating products and services that are innovative, elegant, and user-friendly.
Apple’s customers are attracted by the personality of using products and services that are stylish, sophisticated, and premium.
Apple’s brand personality also influences how it expresses itself and communicates with its audience. Apple uses a simple and minimalist design for its logo, name, slogan, website, social media, etc., to convey its personality of being sleek and refined.
Apple also uses a confident and aspirational voice for its message and meaning, to convey its personality of being bold and visionary.
Coca-Cola — Brand Voice
Coca-Cola is a famous brand company that produces and sells carbonated soft drinks, beverages, and other related products.
Coca-Cola’s brand voice is “to refresh the world and make a difference”. This voice reflects the way Coca-Cola speaks or writes to its audience: the language or vocabulary that conveys Coca-Cola’s message and meaning.
Coca-Cola’s brand voice is clear, concise, and compelling, and it supports its personality and positioning. Coca-Cola’s employees are guided by the voice of creating products and services that are refreshing, enjoyable, and responsible.
Coca-Cola’s customers are influenced by the voice of using products and services that are uplifting, optimistic, and impactful.
Coca-Cola’s brand voice also influences how it speaks or writes to its audience.
Coca-Cola uses a friendly and conversational tone for its logo, name, slogan, website, social media, etc., to convey its voice of being approachable and relatable. Coca-Cola also uses a positive and inspirational vocabulary for its message and meaning, to convey its voice of being cheerful and hopeful.
Which Strategy Best Helps a Famous Brand Company?
In this article, we have explored what a brand strategy is, why it is important, and what are the key elements of an effective brand strategy.
We have also looked at some of the best brand strategy examples from famous brands across various industries and learned from their successes and failures.
By following these steps and principles, you can choose the best strategy for your famous brand company and achieve your business objectives.
We hope you enjoyed this article and found it useful and informative. If you have any questions or comments, feel free to leave them below.
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