A brand strategy is a business’ overarching approach to positioning its brand within a competitive market to existing and potential consumers.
A brand strategy is a comprehensive approach to marketing a business to consumers that includes several elements, such as brand identity guidelines, brand values, standards for producing marketing assets, consumer engagement initiatives, and a brand story.
Together, these items outline how the brand will attract, retain, and build loyalty from customers within its target audience segment. To start, the brand must articulate clear plans for implementing the strategy. How will they engage consumers? How will they develop their brand personality and image? What assets and initiatives will help drive their branding within the marketplace?
Then, the business must continually evaluate the success of its efforts, using data collected directly from consumers and sales channels, and adjust the strategy according to new learnings. This requires balance: The business needs to have a firm strategy to act upon while remaining fluid enough to account for changes over time.