Here are some key components and types of business strategies: Mission and Vision: A business strategy often starts with a clear mission and vision, outlining the purpose and long-term goals of the organization. SWOT Analysis: This involves assessing the internal strengths and weaknesses as well as external opportunities and threats to make informed strategic decisions. Competitive Advantage: Strategies to gain a competitive advantage might involve cost leadership, differentiation, or focus on a specific market niche. Market Entry and Expansion: Determining how and when to enter new markets or expand existing operations is a critical part of business strategy. Innovation and Technology: Strategies for staying competitive often include plans for innovation, technological adoption, and research and development. Marketing and Branding: Creating effective marketing and branding strategies to promote products or services and build a positive brand image. Financial Management: Strategies related to financial planning, budgeting, and resource allocation to ensure sustainable growth and profitability. Risk Management: Identifying and mitigating risks through strategies such as insurance, diversification, and contingency planning. Partnerships and Alliances: Collaborative strategies involving partnerships, joint ventures, or alliances with other organizations to achieve mutual goals. Organizational Culture and Leadership: Strategies for fostering a positive organizational culture and effective leadership to align employees with the company's mission and goals.

1. Business
Strategies

2.  A brand strategy is the long-term
plan to achieve a series of long-
term goals that ultimately result
in the identification and
preference of your brand by
consumers.
 A successful brand strategy
encompasses the brand's
mission, its promises to its
customers, and how these are
communicated.
What is brand strategy?

3.  Airbnb
 Airbnb's incredible success can be attributed to its unique brand strategy that sets it apart from traditional
hotels and vacation rentals. They offer a "home away from home" experience, allowing guests to stay in
local homes instead. Their mission is all about making people feel like they belong anywhere in the world.
 Airbnb's branding strategy is all about sharing captivating stories from hosts and guests across various
digital platforms. They create interview videos on YouTube, share short stories on Instagram, and even
have a blog where they provide written content. By showcasing these stories, Airbnb highlights the amazing
experiences and perspectives of their hosts and guests, reinforcing their mission and establishing a deeper
emotional connection with their audience.
 This approach works wonders in the digital age where people crave authentic and personalized
experiences. By sharing real stories from real people, Airbnb builds trust and transparency within their
community. Plus, these stories are easily shareable on social media, helping spread their brand message
far and wide.
 To further solidify their brand, Airbnb uses a recognizable red and white color scheme that evokes feelings
of comfort, security, and cleanliness. Their simple and open design reinforces the idea of relaxation and
sanctuary during a stay.
Examples of a successful brand strategy

4. Apple
 Apple's global success can be attributed to a combination of Steve Jobs' visionary leadership,
groundbreaking technological advancements, and an exceptional brand strategy based on four key
principles:
1. Offering a carefully curated selection of products.
2. Focusing on the high-end market.
3. Prioritizing profits over market share.
4. Creating a ‘halo effect’ that makes people crave new Apple products.

5. Contd…
 Apple's brand strategy revolves around evoking emotions and creating a distinctive
brand personality. They are all about creativity, freedom, innovation, passion, and
empowering people through technology. They also emphasize simplicity and user -
centric design to forge a strong and meaningful connection with their customers.
 Apple has built an incredibly loyal customer base with a genuine sense of
community among users of their products. The "Mac community,", shows a strong
preference for Apple, helping the company navigate through tough times and
maintain premium pricing compared to competitors.

6. Elements of Brand Strategy

8.  While understanding what your business promises
is necessary when defining your brand positioning,
knowing why you wake up every day and go to
work carries more weight.
 Purpose can be viewed in two ways:
 Functional: This concept focuses on the
evaluations of success in terms of immediate and
commercial reasons—i.e., the purpose of the
business is to make money.
 Intentional: This concept focuses on success as it
relates to the ability to make money and do good
in the world.
1. Purpose

9. IKEA’s Purpose
 To offer a wide range of well-designed,
functional home furnishing products at
prices so low, that as many people as
possible will be able to afford them.
 IKEA business idea
 IKEA's vision isn't just to sell furniture but
rather to "create a better everyday life."
 This approach appeals to potential
customers, demonstrating their
commitment to providing value beyond the
point of sale.

10. 2. Consistency
 The key to consistency is to avoid
talking about things that don’t relate
to or enhance your brand.
 To give your brand a platform to
stand on, you need to ensure your
messaging is cohesive. Ultimately,
consistency contributes to brand
recognition, which fuels customer
loyalty.

12. 3. Emotion
 Customers aren't always rational.
 How else do you explain the person who
paid thousands of dollars more for a Harley
rather than buying another cheaper, equally
well-made bike?
 There was an emotional voice in there
somewhere, whispering: “Buy a Harley.”
 Harley Davidson uses emotional branding by
creating a community around its brand. It
began HOG—Harley Owners Group—to
connect their customers with their brand
(and each other).

13. 4. Flexibility
 In this fast-changing world, marketers must
remain flexible to stay relevant.
 While consistency aims to set the standard
for your brand, flexibility enables you to
make adjustments that build interest and
distinguish your approach from your
competition.
 Old Spice teamed up with Wieden+Kennedy to
position its brand for a new customer base.
 Between new commercials, a new website,
new packaging, and new product names, Old
Spice managed to attract the attention of a
new, younger generation by making strategic
enhancements to its already strong brand.

14. 5. Employee Involvement
 “Employee involvement is the
participation of employees from all
departments in various activities that
help the business reach and maintain
its goals, mission, and brand
position.
 The reason a business is successful
is not just on leadership, but the
contributions from most – if not – ALL
employees.”

15. 6. Loyalty
 Loyalty is a critical part of every brand strategy,
especially to support your sales organization.
 Highlighting a positive relationship between you
and your existing customers sets the tone for
what potential customers can expect if they
choose to do business with you.
 Sometimes, just a thank you is all that's needed.
Other times, it's better to go above and beyond.
 Write them a personalized letter. Send them
some special swag. Ask them to write a review
and feature them prominently on your website.

16. 7. Competitive Awareness
 Take the competition as a challenge
to improve your own strategy and
create greater value in your overall
brand.
 Brands probably sell a similar
product or service as many other
companies, but they are in business
because their brand is unique.
 By harping on every move your
competitor makes, you lose that
differentiation.

18. Branding
Methods

19. Methods
 Attitude Branding
 Individual Branding
 Product Branding
 Co-branding
 Minimalist Branding
 Brand Extension Branding

20. 1. Attitude Branding
 This form of branding refers to a feeling
or attitude that customers associate
with your brand.
 Nike is a brand that has perfected this
type of branding. With the ‘Just Do It’
slogan, Nike promotes a lifestyle that
customers can enjoy by wearing this
brand of products.
 With such a slogan, Nike promotes the
idea that all customers are athletes
when they're wearing Nike products.

21. 2. Individual Branding
 This type of branding is when a
product or service gets a unique
identity, perhaps in a different brand
name to attract new customers in the
market.
 Unilever is an excellent example of a
brand that uses individual branding.
The company has three divisions,
each creating some of the best-known
brands in its niche.

22. 3. Product Branding
 Product branding is perhaps the most popular
type of branding. Here, the brand associates
a logo, name, color, and design with a
product to create a unique identity for the
product.
 It’s one of the best branding methods
because it gives life to products and
increases uniqueness.
 A great example is Apple’s MacBook
offerings. The ‘Air,’ ‘Pro,’ and ‘Mac’ branding
conveys unique messages and reinforces the
quality of the product offering.

23. 4. Co-Branding
 In co-branding, also known as a brand
partnership, different brands contribute
their identity to create a fused brand.
 The advantage of this method is that it
combines market strength, increases
customer bases and perceived value.

24. 5. Minimalist Branding
 Mastercard is an excellent example of
a brand that uses minimalist
branding.
 We might not know what the red and
yellow circles mean, but you’ll know
that it belongs to MasterCard.

25. 6. Brand Extension
 This unique branding method is when a
company uses one of its popular or
established brand names on a new
product.
 The idea behind this method is to use
the already existing brand equity to
boost the latest product.
 Companies that use it hope customers
will be more receptive to the new
offering because of the brand
extension.