As I mentioned last blog, I believe that branding is part of the fundamental strategic groundwork that dictates your business plan. Several significant elements discussed in the business plan should be highlighted and made the basis of your brand platform.
So I�d look to the business plan for the following information:
What markets segments do I plan to serve and why?
What are the major problems, needs, desires and characteristics of those market segments?
How can I solve their problems and satisfy their desires?
Who else is now attempting to satisfy those needs and desires, and how well are they doing?
How are my competitors now positioned within the marketplace?
I�ll be expanding on each of those questions in upcoming blogs. This is information you may have from experience or from doing market research, but either way, it�s important to answer them with authority, not by guess work.
Then also from the business plan you shouldl extract several well-fashioned statements that will guide the company and the brand. (Brand and company are synonymous in the minds of stakeholders.) I�m talking about:
- Vision statement
- Mission statement
- Value statement
And finally, I�d discuss some structural strengths and attributes of the business as you envision them. Things like:
- The business model
- Unique strengths you and your staff bring to the table
- Business/product features, advantages and benefits (FAB)
- Your business goals
These are the major inputs from the business plan that go into developing a brand platform. Next blog, I�ll discuss the additional �planks� in the platform with particular emphasis on positioning.