Developing the Brand StrategyInstitutional AffiliationDate:Introduction Product branding focus on the way a product interacts with its targetcustomers through logo, design, and messaging Developing a brand strategy should consider the target customer, productmix, competition, and unique selling proposition Brand strategy development of a new product has several stages which varywith the type of product Effective branding creates an image in consumers minds that change theirattitude and perception about a productIdea Generalization Developing a successful brand strategy requires idea generalization Idea generalization involves coming up with as many ideas as possible throughgroup discussions It creates new ideas about a product name, design, and advertising that can achievethe goals of the product in its target market Brainstorming product issues and analyzing the market generates ideas on thebranding strategy Creating a team that is diverse is essential in developing a wide range of ideas aboutthe branding strategyIdea Screening Involves reducing the generated ideas to smaller numbers by setting specific criteria theideas should meetScreening ideas for a branding strategy involves considering competition, the existingstrategy, their shortfalls, and market needsMust answer important questions about each idea with regards to the branding of the newproductMust screen the brand strategy strength ...
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