Deliverable 3 Branding Strategy
Competency
Assess branding strategies for achieving marketing goals.
Student Success Criteria
View the grading rubric for this deliverable by selecting the This item is graded with a rubric? link, which is located in the Details & Information pane.
Scenario
You are the brand manager for a large brand, Truly Foods. Your company has just acquired a smaller food brand called Smart Foods. Your boss told you that a new strategy needs to be created for the Smart Foods brand line, since theres already a brand awareness presence and a loyal consumer base. Truly Foods wants to continue to keep the Smart Foods brand strategy separate.
Instructions
Write a 2-page memo with section headers to your boss that does the following:
Describe the new branding strategy for the Smart Foods.
Justify the importance of using the umbrella branding strategy.
Give 2 advantages and 2 disadvantages of using the umbrella strategy.
Discuss the importance of maintaining consistent branding strategies for Smart Foods.
Discuss how this new branding strategy meets the marketing goals for Truly Foods.
Deliverable 3 Notes Marketing Strategy
Brand Strategy
A brand is a name, identifying symbol, logo, or mark that businesses use to differentiate their products from other companies. The brand is the face of the company and its most valuable asset. For example, there are many brands of drinking water out in the market. For a brand to stand out, the company must create a branding strategy to give meaning to the product. A branding strategy essentially states what it is that the company stands for, the promise it makes to the consumer, and the personality it will deliver.
By having a brand strategy, a business can stand out from their competitors by being easily recognizable. When consumers research brands, they are more willing to look at brands that they are familiar with because they know the quality of that brand’s products. There is a lower level of perceived risk when the customer knows the product and what they will get from it. A great brand can cause repeat purchasing and true brand loyalty.
Creating a Branding Strategy
Once the company has a name for a product line, they can begin building a branding strategy.
Interactive –
Once the questions have been answered, the next step is to work on telling a story by creating the logo, fonts, colors, tagline, and other marketing elements. A marketer’s job is to educate the consumers about the brand by creating unique logos and using distinctive colors.
Marketers deem that brands have value beyond the benefits of the product. Although the name of the company is the beginning of the brand, it is the portfolio of qualities associated with the brand that makes it a good brand. For example, Pepsi? is a well-known brand. Its name invokes specific images: the logo, the blue and red color, the bottle shape, as well as some advertisements.
Packaging and labeling are also a part of the branding strategy in that they identify the product, its image, and its benefits. Many products have distinctive packaging, including color. For example, when consumers see a red can of soda, they automatically think of Coca-Cola?. However, if consumers see a blue can of soda, they know it is a can of Pepsi?. Labels also help consumers identify the brand. The packaging is essential because it holds the contents of the product. Consumers may look for packaging that is “easy to open,” travel size, or durable.
The packaging is also one way for consumers to recognize the brand, but when the packaging changes, it can confuse consumers. An example of a package redesign is Tropicana? orange juice. In 2009, the beverage decided to replace the old packaging with a more stylish design. The old package had a picture of an orange with a red and white straw sticking out of it and had Tropicana? in green writing on the front of the carton. The new design featured a large glass of orange juice with a portion of it on the side of the container and Tropicana? written vertically on the package. Consumers were confused and complained about the new packaging. This caused the sales of the beverage to decrease by 20%. The brand changed too many things at once, such as the new slogan, the new lid, new logo, and original image. The brand decided to return to the old packaging, which cost the company $50 million.
By creating a brand strategy, companies can fully communicate who they are through the logo, name, or identifying symbol. The brand strategy is essential for maintaining long-term success and telling an unforgettable story that will translate to loyalty.
Brand Consistency Across Platforms
The Importance of Brand Consistency
Brands must communicate consistently across all platforms. If branding efforts, communication, and advertising are inconsistent, the consumer will see the brand as being untrustworthy. Brands built on consistency build trust with their customers, and trust is the foundation for loyalty. According to Edelman (2019), “81% of consumers said that they need to be able to trust the brand to buy from them.” Being consistent also helps with brand recognition. Nike and Coca-Cola? are companies whose marketing efforts have made them two of the most recognizable brands in the world. No matter where you are, the iconic “swoosh” logo is recognizable. The same is true for Coca-Cola?; their cursive writing logo invokes familiarity, positivity, and authenticity.
Great branding stays in the mind of consumers, and it pays to create a unified branding strategy on all platforms. “Consistent presentation of a brand has seen increased revenue by 33%” (Lucidpress, 2019). The message does not have to be the same on every platform; however, the message and association with the brand need to be consistent. Brand consistency ensures that the brand is recognizable on the different touchpoints across multiple platforms. Brand consistency also communicates credibility and helps manage the perception of the brand. For example, the look, tone, and feel should be specific to the brand and displayed when creating strategies for the different platforms. No two platforms are the same, and they each offer different opportunities to support the brand.
Brand guidelines can be put into place to help the marketing department, as well as employees, ensure consistency. The guides have information regarding the use of the logo, taglines, icons, and appropriate fonts. An approval process is another part of the guidelines. The approval process ensures that there are no communication gaps or loopholes within the branding and marketing departments. Dove is a significant and recognizable brand for shampoo and soap. The brand uses the same white background with the blue color logo on their packaging. The products all use the same fonts, color shades, and other elements that are easily recognizable, without seeing the brand name.
Seven Approaches to Consistent Branding
Consumers use more than one channel when they are making purchases. Branding is more important now than it has ever been because of the use of technology. By having consistent branding, consumers will receive the same type of content on different platforms, including various social media platforms.
There are seven approaches that companies use to ensure consistency:
to learn about seven approaches
Brands are built on the trust they receive from their consumers. A brand must be consistent with the communications and the advertising of the company. Using the seven approaches, companies can build marketing strategies that will ensure brands consistency within their messaging, designs, word usage, and offerings.
Reference
Lucidpress. com (2019). State of brand consistency. https://www.lucidpress.com/pages/resources/report/the-impact-of-brand-consistency
Edelman.com (2019). In brands we trust. https://www.edelman.com/sites/g/files/aatuss191/files/2019-07/2019_edelman_trust_barometer_special_report_in_brands_we_trust.pdf
Ferrell, O. C., Hartline, M., & Hochstein, B. W. (2021). Marketing Strategy (8th ed.). Cengage Learning US.
Uggla, H. (2017). Post-Structural Luxury Brand Strategy: Implicit Luxury Brands. IUP Journal of Brand Management, 14(3), 22?29.
Engstrom, A. (2020). Maintaining Brand Consistency in a New Market. TK Business, 22.
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
