3 minutes reading time (615 words)

Company strategy, marketing strategy & brand strategy

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?

Company strategy

A company strategy determines a companys 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.

 

Marketing Strategy

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:

  • Which markets to enter
  • Which products / services to provide
  • Which route to market / channels to use
  • Which competitors to attack
  • What are your competitive advantages
  • How to defend a position
  • How to differentiate yourselves
  • How to add value to the customer

 

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.

 

Brand strategy

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:

  • customers believing who you say you are
  • a connection between the company and its customers
  • brand preference
  • brand loyalty
  • having a competitive advantage
  • distinguishes you from your competitors

 

Building a strong brand equity involves determining the brand positioning, brand name selection, brand sponsorship and brand development.

 

Process to develop a brand strategy:

  • Consider your overall company strategy
  • Determine your competencies
  • Identify your target markets and customers
  • Research your route to market / channels
  • Determine your brand positioning
  • Determine your messaging strategy
  • Design your name, logo and tagline
  • Develop your content marketing strategy and channels
  • Develop your website
  • Build your marketing toolkit
  • Implement, measure, adjust

 

If you want to take your Brand to the next level, using effective marketing & brand strategies, contact IconomySA on:      

Tel:
+27 11 867 5005

Email:
This email address is being protected from spambots. You need JavaScript enabled to view it.

Website: www.iconomysa.co.za

 

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