Brand strategy is an important part of enterprise's decision to manage its own products (including services). It refers to the most reasonable and effective strategy for enterprises to use brand trademarks according to their own situation and market conditions. Brand strategy usually has the following kinds:
1, unified brand strategy
Unified brand strategy refers to the strategy that enterprises use the same brand for all series products they operate. Adopting the same strategy is beneficial to the establishment of "enterprise identification system" This strategy can reduce the cost of promoting new products and save a lot of advertising expenses. If the enterprise has a good reputation, the sales of new products will be very strong, and using a unified brand is the easiest way to launch new products. Enterprises adopting this strategy must strictly control the quality of all products to maintain brand reputation.
2. Personal brand strategy
Individual brand strategy means that enterprises adopt different brands for different products. The advantage of this strategy is that it can separate the success or failure of a single product from the reputation of the enterprise, so that other products will not be affected because of the bad reputation of a single product, and the overall image of the enterprise will not be adversely affected. However, the implementation of this strategy will make enterprises spend a lot of advertising expenses. It is best to be a corporate brand first, and to promote personal brands with corporate brands.
3. Expand brand strategy
Brand expansion strategy refers to the introduction of improved products or new products by enterprises using brands with certain popularity in the market. Adopting this strategy can not only save the promotion cost, but also open the product market quickly. The implementation of this strategy has a premise, that is, the expanded brand has a high reputation in the market, and the expanded product must also be an excellent product suitable for it. Otherwise, it will affect the sales of products or reduce the reputation of existing brands.
4. Brand innovation strategy
Brand innovation strategy refers to the strategy of improving or merging existing brands and establishing new brands. There are two ways of brand innovation: one is gradual change, which makes the new brand close to the old brand, and gradually changes the brand with the development of the market to adapt to the psychological changes of consumers. This method costs little and can maintain the original goodwill. The second is mutation, abandoning the original brand and adopting a brand-new brand with the latest design. This method can arouse consumers' interest, but it needs a lot of advertising fees to support the promotion of new brands.