GENERAL KNOWLEDGE

Detailed explanation-1: -A brand strategy is the holistic approach behind how a brand builds identification and favorability with customers and potential customers. A brand strategy encompasses several different brand elements like voice, storytelling, brand identity, brand values, and overall vibe.

Detailed explanation-2: -The identity approach: the brand as linked to corporate identity. The consumer-based approach: the brand as linked to consumer associations. The personality approach: the brand as a human-like character.

Detailed explanation-3: -A branding strategy (a.k.a. brand development strategy) is the long-term plan to achieve a series of long-term goals that ultimately result in the identification and preference of your brand by consumers.

Detailed explanation-4: -Product/range extension. This is when a brand introduces a new product similar to one it offers already, targeting an existing market. Brand extension. Co-branding. Brand licencing.