At IconomySA we explore your world and find ways to create an experience for your customers. We explore, what works, what doesn’t and how to get to the ideal. We will create and grow your brand to reach its potential. In this post we explore what role your company strategy, marketing strategy and brand strategy play and how they relate to each other.
The relationship between the company, marketing and brand strategy
There are several areas where the company, marketing and brand strategy overlap. The important aspect is that there has to be consistency between all 3 strategies.
How do we ensure these three strategies integrate and align?
A company strategy determines a company’s vision, mission, values, strategic objectives, core competencies and strategic projects to achieve the strategy. The strategy needs to take into account the resources required to achieve the strategy and the measurements to track how the implementation of the strategy is going.
The company strategy formulation is a process covering the whole business and sets the platform for the other strategies of the company. The process covers people management as well as a detailed analysis covering, financial, looking in the mirror (current / past state), looking out the window (future state), core competencies, products / services offering, target markets, route to market, competitive advantages and resources available and required.
The marketing strategy is moulded by the company strategy and the brand strategy. The marketing strategy is more tactical and the brand strategy is more strategic. Marketing is actively promoting and selling a product or service. This entails identifying:
Marketing is about putting the right product / service in the right place, at the right price, at the right time. It must create buyers to engage. Marketing is a push tactic. All Marketing initiatives and activities must promote and support the brand.
Creating a brand identity is the aggregation of what a company is, and it encompasses its mission, vision, values, its personality & promise to the customer while being supported by a motivated team of employees who feel proud working in such a company.
Having a Brand identity means:
Building a strong brand equity involves determining the brand positioning, brand name selection, brand sponsorship and brand development.
Process to develop a brand strategy:
If you want to take your Brand to the next level, using effective marketing & brand strategies, contact IconomySA on: