Brand Strategy and Analysis Essay Example | Topics and Well Written Essays - 1000 words

Brand Strategy and Analysis - Essay Example This helps to establish whether the brand meets the customers’ expectation and hence establish the need to modify or maintain the brand. Moreover, the managers can carry out an analysis on the customers’ data with a view of developing a marketing strategy that will communicate the brand messages to the target customers and help in predicting future market demands for the brand. For instance, the management can derive a strategic plan for the marketing department with an aim of helping them understand the customers’ needs and henceforth design a brand that meets those needs and reaches the customers in an effective way. Additionally, customers’ analysis helps in brand positioning through the analysis and understanding of different customer segments which defines their usage, needs, and experiences (Alameda County SBDC, 2013). Indeed, such an understanding clearly helps in creating brand strategy as the brand design seeks to satisfy each customer segment. Ho w a Competitor Analysis Helps In Creating a Brand Strategy A strong brand strategy is the one which positions the company’s strengths above its competitors’ weaknesses or the one which expose no threat to the competitors (Czepiel and Kerin, 2009). To achieve this, the company’s strategists must have adequate knowledge about competitors' strengths and weaknesses which comes through competitor analysis (Brown, 2010). As such, competitor analysis helps in creating a brand strategy. For instance, the strategists may seek to establish what the competitors does best and what they perform poorly with an aim of designing a brand strategy that will capitalize on the competitors’ weaknesses and dilute the competitors’ strengths with an aim of gaining competitive advantage. Indeed, brand strategy uses competitors’ analysis to establish a profile of opportunities and threats for the company against its competitors. In addition, competitor analysis has a goal of knowing all aspects of the competitor with a view of relating to them and designing a brand strategy that will address the competitors' probable actions and responses (Czepiel and Kerin, 2009). For example, the strategists can analyze the competitors’ mission statement and future policies with a view of using that information to develop a brand strategy that will position the company in a strategic position. Indeed, brand image and brand strengths are components of competitor analysis which significantly define brand strategy. Knowledge about the competitor’s current and possible future position is fundamental in the overall strategy of a company. More so, competitor’s analysis entails the competitors marketing strategy which helps in designing brand strategy. For example, the strategists may seek to know how, where, what, and who their competitors’’ advertisement target. Such information would be necessary for the company in devising a br and strategy for the future. Example of a Customer Analysis This is a customer analysis for a car manufacturing company. The customer analysis will address the market research, customer needs, and current or targeted customers (Jersey Business, n.y). Customer Needs Most car buyers seek for high quality, low maintenance, comfortable, and durable cars.