The simplest definition of a brand
Brand strategy is about positioning, game theory, and time.
People call themselves brand strategists but don’t know the meaning of a brand.
They don’t understand the fundamentals of what makes a good brand.
They think that if they create a viral TikTok video, it gives them the authority to give themselves that title.
That’s not how it works.
True brand strategists know it’s not just about being seen but about being remembered for the right reasons.
In this letter, you’re not going to get the usual: “brand is a product or service that has a unique and immediately recognizable…” (goes on to fill one whole page.)
But you’ll get a fast-forward, straight-to-the-point definition from my experience.
First, let’s break down the meaning of brand.
A brand is not a logo.
A brand is not a product.
A brand is not the sum of all the impressions it makes on an audience.
A brand is not a commoditized product that you charge a little extra for peace of mind.
Rather, a brand is a result – it's a person's gut feeling about a product, service or company.
It's in their heads and in their hearts.
A brand is your reputation.
As simple as that.
Now we understand what a brand is. To bring the brand to life, we need a strategy.
What’s a brand strategy?
Brand strategy is about positioning, game theory, and time.
It’s about how tomorrow will be different than today (what you’re doing today that will change the dynamic of the marketplace.)
What then is positioning?
It’s about a clear map of who you are and who you are not. Essentially, if you’re not eagerly sending potential business to you’re ‘competitors’, then you don’t have a positioning.
Basically you’re saying you’re for everyone.
Positioning, in simpler terms, means, “We don’t have to compete with [brand], they do that, we do this.”
It’s about defining your niche so distinctly that the competition becomes irrelevant/differentiated in your specific domain.
Think about it.
How truly are people willing to pay extra for your offer than the substitute?
They’re not buying your product. They’re buying the experience they’ve been promised after buying your product.
People have choices and they’re not going to choose something because you want them to.
Next is Game Theory.
If you’ve learned economics or business or you’re a gamer, this may be familiar.
Game theory involves strategic decision-making that anticipates the actions and reactions of competitors.
To be clear, it’s not just about making the best move, but making the move that best responds to or influences what your competitors are likely to do (e.g. creating barriers to entry, leveraging first-mover advantage, or adopting a contrary position to dominate a niche market).
The aim is to provide a formal language to describe conscious and goal-oriented decision processes that involve one or more players.
We’ve seen this for Netflix and Blockbuster.
Now, let’s talk about Time.
The dimension of time in brand strategy relates to understanding and utilizing the timing of market entry, product releases, marketing campaigns, and more.
As brand strategists, you need to know when to push forward aggressively and when to hold back.
Timing is everything here.
Building a brand doesn’t happen overnight.
You need patience. Lots of patience.
One memorable brand strategy project I did was for Ladurée, a French manufacturer and retailer of high-end pastries.
They had a problem.
They wanted to enter the Shanghai market for the third time because the previous two were pop-up retail stores that did not provide a complete Ladurée French brand experience.
They wanted to convey three main things:
Ladurée's French lifestyle
The brand story of Ladurée, dating back to 1862
The environmental experience and ambiance of Ladurée
So my team and I conducted appropriate validation of their current brand position in China and understand Chinese consumer perceptions of the brand.
Afterall, the majority of people in China are Chinese, so it’s better to segment the audience that way.
We found lots of reasons why consumers are not getting that brand experience they would get if they were in Paris. Here are a few:
The brand is not clearly established in China (consumers are confused whether it’s for afternoon tea, a place where you can get high-end pastries, or it’s just like any other pastry shop serving everything)
Their in-store experience doesn’t reflect the brand (for example, the staff being one of the main touchpoints for pre, during, and, post-purchase are lackluster, unprofessional, and overall not trained well to provide the French experience)
The stores are not strategically located in high foot traffic areas, and store designs do not give off the premium French experience people are craving for
While the simple fix may be changing the entire brand experience to meet what it’s like in Paris, we decided (based on the FG discussions and surveys we’ve conducted) that the main changes will be to establish two different brands.
A main Ladurée Flagship store and Ladurée (express style store.)
The Flagship store will be focused on maintaining the image as a high-end patisserie, famous for its exquisite and elegant macarons, pastries, and afternoon tea.
The express style store will be adopting a streamlined version of Ladurée, designed to deliver the essence of French patisserie to customers seeking Ladurée experience in a convenient format.
Why did we decide on this?
Because it works in China.
We’ve seen it for Venchi, we’ve seen it for Pierre Marcolini.
And because this is what consumers like to see Ladurée stand for.
And what they want to be changed.
To hit home my point, here’s a 6-minute breakdown of Nike’s Brand Strategy by Seth Goldin:
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Thanks for being here,
Alvis