The Integration of Business, Brand, and Marketing Strategy
Brand, Business, and Marketing Strategy are similar concepts but it’s important to think about them separately to understand how they’re different and why each is important.
Branding is the process of quantifying the value and authenticity of an organization, product, or service. It is a clear set of characteristics, benefits, and attributes that define a particular brand. In contrast, brand strategy defines rules and guidelines on how, what, where, when, and to whom you communicate your brand messages. A well-defined and executed brand strategy leads to a consistent message, a strong emotional connection with customers, and higher brand equity.
A Business Strategy outlines the plan of action to achieve the vision and set objectives of an organization and guides the decision-making processes to improve the company’s financial stability in a competing market. In an attempt to reduce complexity, many online sources refer to a simpler definition of strategy as a high-level plan that helps a business achieve its goals.
Marketing strategy is shaped both by business strategy and brand strategy. Whereas branding is strategic, marketing is more tactical. Marketing is actively promoting and selling a product or service. It's about putting the right product/service in the right place, at the right price, and at the right time. It unearths and activates buyers. Marketing is a push tactic. All marketing initiatives and campaigns should reinforce and support the brand essence.
To create effective integration between business, brand, and marketing strategy, consider:
The sequencing of these strategic plans. Business strategy comes first, closely followed by brand strategy, and then marketing strategy.
Business strategy → brand strategy → marketing strategy and plan
A brand can be used to rally an organization around its high-level strategies, so it can be helpful for brand positioning and strategy work to closely follow the creation of the business strategy.
Brand strategy should be created at a senior level within the organization so that it is created by those who understand the business, business model, and competitive strategy and the rationale behind them very well.
Ensure the marketing team has the following qualities: strategic thinking, creativity, analytical ability, and strong program management/execution discipline. These qualities are all important for creating a marketing strategy that links to business and brand strategy, for implementing marketing strategy, and for ongoing brand management.
Successfully merging brand, business, and marketing strategies are important to your company’s success. After mastering each individual branch, you can put them all together and find yourself with more sales, followers, and clients!