Brand Development

Published by MBA Skool Team, Last Updated: May 15, 2020

What is Brand Development?

Brand development is maintaining the consistency in terms of quality, value and trust that consumer finds in the company. Brand is a perception on consumers’ mind. Today market is flooded with competition and none of them is lagging behind in delivering the promises that they make to their respective consumers.

Importance of Brand Development

Brand development is a continuous process which helps a brand grow in the market. There has be a constant plan to develop a brand further, be contemporary and yet be useful to a customer. Brand development has following 4 phases:

Brand strategy- How to take your brand into the market? Making brand communications more effective. Brand development can undertaken by enhancing communication strategies for a brand.

Brand Identity- Brand identity communicates the company’s vision and mission via Brand. From beginning to end, making brand more memorable.

Graphic design- Graphical designs, color schemes, logos etc differentiates a brand from the competitor and shape consumers’ perception positively, and helps in brand development.

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 index (BDI).

This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

Browse the definition and meaning of more similar terms. The Management Dictionary covers over 2000 business concepts from 6 categories.

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