In my last article, I described the overall structure of a traditional Marcom department in a medium to large scale enterprise. In this article, I will describe a typical brand strategy and advertising department.
The first question that comes to mind is what is a brand strategy? Why is it important? Don’t we just place the logo on the collateral and own the brand?
A brand strategy is formulated to build brand equity. To understand the importance of brand, we can take a look at a well-known brand and how its reputation translates to higher profitability.
The brand in question is ‘Starbucks’ that markets itself as a high-end product and services company. Starbucks is able to sell coffee and coffeehouse experience at a higher price compared to its competitors. Starbucks enjoys this competitive advantage due to the customer loyalty built on the strength of its brand.