Brand Strategy
Before we tackle the subject of Brand Strategy, let’s explore what a brand is, or what the term implies. A “brand” is a name, symbol, or sign that identifies and distinguishes one product or service from competitive products and services. We might think of “identifies and distinguishes” as the practical or visible function of a brand, but a brand can perform other functions and convey other meanings. A brand might communicate or evoke associations, memories, experiences, words, emotions, colors, sounds, music, smells, symbols, values, and images. We can think of these latter properties as intangibles.
The process of creating brand strategy involves knowing where a brand is, in terms of positioning, brand image, and brand messages, compared to competitive brands. That is, what is the brand’s starting point? It's not just what a brand is saying, it's what the target audience is hearing and believing. The second part of developing brand strategy is defining the vision for the future. Where does the brand want to go and what does the brand want to be--in terms of positioning, stature, brand imagery, and messages?
While it may be difficult to devise a brand strategy, the message itself can be relatively simple, as we have shown. Execution is just as important as the underlying strategy, and can sometimes be transformational.
A thorough review of all existing research data is imperative to better understand the brand’s current positioning, brand imagery, and associations. This means reviewing and digesting data from existing brand-tracking, ad-tracking, and brand-positioning studies, or any other research that sheds light on how the brand is currently positioned and perceived. The next step is conversations with key stakeholders who have knowledge of the brand and its history. What are their impressions of the brand, on what data are those impression based, and what do they envision as the brand’s future? What do they hope the brand can become?
Presenter
Jerry W. Thomas
Chief Executive Officer
Jerry founded Decision Analyst in September 1978. The firm has grown over the years and is now one of the largest privately held, employee-owned research agencies in North America. The firm prides itself on mastery of advanced analytics, predictive modeling to maximize learning from research studies, and the development of leading-edge analytic software.
Jerry is deeply involved in the firm’s development of new research methods and techniques and in the design of new software systems. He plays a key role in the development of Decision Analyst’s proprietary research services and related mathematical models.
Jerry describes himself as a student of marketing strategy, new product development, mathematical modeling, business survival, and economic growth. In his spare time, he likes to work on his farm in East Texas where he grows grapes, apples, pears, pecans, plums, and peaches; a forest of native trees, grasses, and insects; and wild plants of many types.
He graduated from the University of Texas at Arlington, earned his MBA at the University of Texas at Austin, and studied graduate economics at SMU.
