How to take your brand into the market? Making brand communications more effective. Brand development can be undertaken by enhancing communication strategies for a brand.
2. Brand Identity
Brand identity communicates the company’s visions and mission via brand. From beginning to end, making the brand more memorable.
3. Graphic Design
Graphical design, color schemes, logos, etc. differentiates a brand from the competitor and shape consumer’s perception positively, and helps in brand development.
4. Brand Management
Just like a stock portfolio, managing the investment done by the company in the brand. Hence, brand management is an effective way of managing the entire life of a brand.
Effectiveness of brand development is also measured by a tool which is known as Brand Development (BDI).
The brand development index quantifies how well a brand performs in a market, compared with its average performance among all markets. That is, it measures the relative sales strength of a brand within a specific market.
The purpose of the BDI metric is to quantify the relative performance of a brand within specified customer groups. The index helps markets identify strong and weak segments for individuals brands.
The BDI is especially useful in conjunction with the Category Development Index (CDI). It can be used in deciding the allocations in the media to which a specific brand is advertised. It can also be used to determine how much advertising or promotion effort is, or should be put in that specific market.