Planning how your brand is seen in the marketplace.
Brand Development (aka Brand Management) is the process of planning how the brand is seen in the marketplace, by both clients and competitors. Brand Development is not exclusively marketing, but rather a specific function in any marketing strategy itself.
Let’s take a small step back to understand how the activity of marketing works hand in hand with the development of a brand.
In all forms of marketing, developing a good relationship with your target audience is essential in being able to sell your brand and any of its branded products. Marketing helps to form a connection with your brand, and your target audience by communicating your brands message.
Brand development helps your marketing by looking at a deeper lever at how, where and to whom your brand (or your brands product or service) is being sold to.
When would I need Brand Development?
Brand development would come into play, if you have a good brand but you are struggling to sell your product or service (for any reason). The brand development process would look at how the product or service is sold, consider the overall look, review the pricing, packaging and how the product or service is sold or delivered.
So, brand development is the part of marketing that directly helps you to grow your brand. A marketing strategy that incorporates brand development will directly affect how much the brand, the business and revenues will grow.
I’m not a big business, so I don’t think I need Brand Development…
It’s true, many small businesses don’t think they need brand development, and they couldn’t be more wrong. Brand Development will pick up where marketing does not effectively go and advertising stops.
Every business has a product or a service that they deliver through their brand, no matter how big or small the business is. Whilst it’s obvious where a big business would need brand development, here are a few suggestions on when a small business can benefit from a brand development strategy.
If you are creating or launching a new product or service in your marketplace, or you want to reinvigorate a tired or old product or you simply want to generate more sales through an existing service that you offer – then you can benefit from a brand development strategy.