I’ve taken to making lists and today I was thinking about putting together a tip sheet for an upcoming MBA-level brand management class I’m going to teach.
Here are 7 quick tips to help you manage your brand effectively in 2023:
- Remember that it takes time for your branding efforts to take hold in the market. Don’t go crazy changing things because you don’t see immediate results. Branding takes time.
- Start with your research. You need to know what the market looks like. Don’t guess. Do research.
- STP: Segmentation. Targeting. Positioning. Know these terms and put them to work for your business.
- Don’t fall into the “Commodity Trap”: No brand is destined to be a commodity. You don’t have to buy the belief that there are commodities.
- Pick what you won’t do: Remember, strategy is as much about what you won’t do as what you will do.
- Know your brand codes: Use them. Your brand codes are sounds, colors, smells, images, shapes, etc. that symbolize your brand to your market. Use them on everything.
- Delivery of your brand strategy happens through the four Ps: Product. Price. Place. Promotion. Don’t forget to use all four of them.
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