business strategy<\/a><\/strong><\/span>, goals, market strategy and the personal views of the management team. At this point, we will have disagreements. <\/span><\/p>\nThis is also the time for businesses to review their business plans, do they need to make any adjustments to their marketing activities?<\/span><\/p>\nWith different perspectives, businesses need to consider, select and combine to build an effective strategy.<\/span><\/p>\n1.2 Identify the target audience<\/h4>\n Next, businesses must identify the audiences they want to target. There are many ways to approach the target audience such as: Market research, customer surveys, social networks, competitors, etc. From there, businesses will target the audience according to the following aspects:<\/span><\/p>\n\nAge<\/span><\/li>\nGender<\/span><\/li>\nIncome<\/span><\/li>\nGeography<\/span><\/li>\n<\/ul>\nTarget The target audience of a business is not just customers, the target audience is those who have an impact on the success of the business. These can be: Partners, influencers, referral sources and potential employees.<\/span><\/p>\n1.3 Research the audience<\/h4>\n After identifying the target audience, the next step is to research the audience to have the most objective view of their needs, challenges and motivations. Below are the issues that businesses need to pay attention to:<\/span><\/p>\n\nWhat issues do they prioritize?<\/span><\/li>\nDo they know your business exists?<\/span><\/li>\nHow they feel about your business<\/span><\/li>\nWho they consider your competitors<\/span><\/li>\nHow strong do they consider your business’s reputation?<\/span><\/li>\nWhat they see as your business’s strengths<\/span><\/li>\nWhat they see as your business’s weaknesses or vulnerabilities<\/span><\/li>\nIf they were customers, why would they choose your product\/service<\/span><\/li>\n<\/ul>\nTo answer these questions, businesses must conduct research and interview the target audience. The results will help businesses build a strong bridge to connect their businesses and their audiences.<\/span><\/p>\nBrand strategy<\/figcaption><\/figure>\n1.4 Identify the differences between your business and your competitors<\/h4>\n Next, you must identify the differences to differentiate your business from your competitors competitors. The differences you find must meet three criteria:<\/span><\/p>\n\nBe real<\/span><\/li>\nBe relevant to your target audience<\/span><\/li>\nBe proven<\/span><\/li>\n<\/ul>\nYou should not choose common and general features. For example: “Our staff is highly qualified and competent”, “We have a proprietary process” or “We have the most attentive and dedicated customer service”. These are all characteristics that can be found in any business. If not, you must present convincing evidence to prove these differences. <\/span><\/p>\n1.5 Write a positioning statement<\/h4>\n A positioning statement is a concise statement of the position that a business wants its product or brand to achieve in the minds of customers. The positioning statement must demonstrate two points: Your business’s current position in the market and the aspiration, the position that your business wants to achieve.<\/span><\/p>\nPeople often confuse a positioning statement with a mission statement or a vision statement. In essence, a positioning statement is just a paragraph of about 4-6 sentences, which serves as the basis for the message that the business wants to convey. This is a resource that distills the quintessence of the brand into an easy-to-understand paragraph. <\/span><\/p>\n1.6 Adjust the message to suit different audiences<\/h4>\n In this step, you can apply the differentiation and positioning identified above to each audience. You should divide the audiences and personalize the messages for each audience. The messages must have what customers need to hear to feel secure in choosing to experience your products\/services.<\/span><\/p>\n1.7 Handle complex branding situations<\/h4>\n During the development process, businesses will encounter situations such as: Establishing new business divisions, subsidiary products, independent products or sub-brands that do not have a clear connection to the parent brand. This requires businesses to take the time to clearly establish the hierarchy and relationships between brands. It helps customers better understand your business, about the diverse services, eliminates confusion, and makes the purchasing process easier. This solution is called Brand Architecture.<\/span><\/p>\n