Abstract:
In this paper we will discuss the utility of brand development. We will describe the phases of brand development. Brand development is pretty essential for the growth of a company.
Branding includes everything regarding a company's identity starting from the name. It comprises company logo as well as all sort of internal or external communication. Through branding the customers get to know about any company. Therefore, brand development is an integral part of the company's business growth.
If any company does not have a right brand development strategy, it will surely lose money. An efficient brand development strategy not only helps in the growth of business but also inspires the employees and customers. The employees will then work hard and the customers will remain with the company for a longer period.
Brand development can be divided into two ways. One is brand identity development and the other is brand name development.
Phases of Brand Development:
There are some phases through which the brand of a company can be developed. These are stated below:
- Brand Understanding: In this phase, the strength and weakness of the brand need to be assessed.
- Brand Framework Development: This is the phase of building the communication strategy based on the understanding of the business objectives.
- Creative Design of the Brand: It involves in website development, brochure development etc. Basically, it is a phase of designing the brand's framework.
- Managed Result Service: Finally, in this phase the effectiveness of the whole online and ofline service is evaluated.