Service Details

Definition of brand development:

Brand development is strategically managing and growing a brand over time. The goal is to build lasting brand equity, spread awareness, connect emotionally with target customers, and stand out.

Unlike branding, which deals with logos and visuals, brand development looks at the bigger picture of positioning a brand to drive business growth.It’s an ongoing process of understanding customers, defining the brand identity and promise, communicating it effectively, and adapting it when needed.

Definition of brand development:

Investing time and resources into thoughtful brand development matters for a few key reasons:

• Increases awareness and recognition
• Supports business growth objectives
• Attracts and retains more customers
• Builds brand equity and value
• Differentiates from competitors

Without intentional brand development, brands lack strategic direction. Their messages may need to be clarified for buyers or fully resonate. Brand development brings meaningful clarity and growth.

Types of brand development strategies:

There are four main strategies companies use to build and grow brands:

• Line extension: A line extension is when a company introduces a new offering within an existing product category under a current brand name. 
• Brand extension: It is when a company uses an established brand name to launch new products in a different product category. For example, Amazon initially moved from selling only books to now selling electronics, cloud services, and grocery delivery.
• Multi-brands: A multi-brand strategy is when a company manages and markets several brands in the same product category. Each brand targets a distinct consumer segment even though the brands may compete for market share.
• New brands: Companies launch entirely new brands when they believe a new brand will resonate better with potential new customers than extending an existing brand into a segment, category.