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What does brand strategy include?

1. Brand name

That is, the company decides to use a different brand for each product. Adopting individual brand names and seeking different market positions for each product can help increase sales and compete with competitors. It can also spread the risk so that the entire reputation of the company will not be affected by the poor performance of one product. For example, "Procter & Gamble" uses "Tide" and "Bilang" for washing powder; "Safeguard" is used for soap; and "Crest" is used for toothpaste.

2. All products

Use the same family brand name for all products. That is, all products of the company use the same brand

brand strategy brand. For those well-known companies with high reputation, adopting a unified brand name strategy for all products can make full use of their name brand effect and make all the company's products sell well. At the same time, the cost of corporate promotion and introduction of new products is relatively low, which is conducive to new products entering the market. For example, all products of General Electric Company in the United States use GE as the brand name.

3. Major categories of products

Each major category of products uses different family brand names. Enterprises use this strategy generally to distinguish different categories of products. Products under one product category then use the same family brand, so as to establish their own brand images in different product categories. For example, one of the major categories of products produced by Swift Company is ham; another major category is chemical fertilizers, which are named "Prime" and "Fatgoro" respectively.

4. Company name

Some brand names are used together with the company name. That is, the company decides to adopt different brand names for its different categories of products with different brand strategies, and adds the name of the company before the brand name. Companies often use this strategy for the development of new products. Adding the company name to the brand name of a new product can make the new product enjoy the company's reputation, and using different brand names can make various new products show different characteristics. For example, Haier Group has launched the "Pathfinder" color TV, "Hercules" refrigerator, "Big Prince", "Little Prince" and "Little Prodigy" washing machines.

Branding decision-making refers to the activity in which a company decides whether to name a product or design a logo. Historically, many products were not branded. Producers and middlemen sell their products directly from barrels, boxes and containers without any identification from the supplier. Medieval guilds worked hard to require craftsmen to put trademarks on their products to protect themselves and consumers from inferior products.

In the field of fine arts, artists attached marks to their works, which was the birth of the earliest brand marks. Today, the commercial role of brands is particularly valued by enterprises. Branding has developed rapidly. There are very few products that do not use brands. Products that have never used brands in the past, such as soybeans, fruits, vegetables, rice and meat products, are also placed in distinctive packaging bags and sold with brands. The purpose of this is naturally to obtain the benefits of branding.

5. Brand management

Plan the brand development stages, determine the stage goals, subdivide the goals, and be specific to the company's products. Clarify the strategic significance of the brand, unify internal cognitive concepts, unified behaviors, and unified image. Implement brand management, establish performance appraisal indicators that match brand management requirements, improve incentive and restraint mechanisms, and implement brand management work. Brand audit, publicity and packaging specifications, market share, sales, etc.