Brand strategy is the process of defining, developing, and managing a brand. It is a flexible plan that guides how a brand will be positioned in the market, how its value will be articulated to consumers, and how it will be differentiated from its competitors.
“The customer rarely buys what the business thinks it sells him.” I often use this quote from the great Peter Drucker to help explain the concept of Jobs to be Done (I took it from Clay Christensen, who did the same). But the quote goes much further, and it relates to much more. Consider these examples:
I recently put a post up on LinkedIn asking whether the creators are taking over from the ‘traditional’ brands.
On May 1, 2023, Sprouts Farmers Market reported very positive news during its earnings call. The Wall Street Journal’s Market Report indicated that Sprouts’ first quarter earnings rose 24%. Sprouts’ CEO Jack Sinclair told analysts, “We are pleased with our first quarter; we believe our long-term growth strategy is gaining traction and driving positive performance. Our results included comparable store sales growth of 3.1%, total sales growth of 6 percent and adjusted diluted earnings per...
Self-expressive brands enable us to express our inner selves, “the way others see me.” People who want to express their “real me” are more engaged with brands online and are motivated to co-create brand value. They become brand advocates. Ultimately, they are willing to pay a premium and will develop a long-term relationship with the brand.
