Brand development is a multi-stage process with the ultimate goal of building brand equity in a consumer’s mind. Brand equity is an intangible set of assets that cannot be tracked on a balance sheet. But, the value of that equity is the most valuable asset a company can own. The Brand Development Process Developing a brand must be part of the larger marketing plan for the company. It is often the biggest challenge but the most critical. You don’t have to invest millions to develop your brand, but making the effort will pay off. Determine what you are branding A critical part of the branding process is determining exactly what you are branding, positioning the brand, what you are promising with your brand, your story, and your elements and style. Research your target market Marketing research into your target market is critical for effective brand development. A professional market research will give you critical insights into who the target is, what they like/dislike, what their challenges are, and how you can help them. Compile your brand definition reflects what your brand is all about: Define what you are offering, how your target audience will benefit from it, what guarantees you offer, and what can this brand do or stand for that no other brand can say? Create your name, tagline and logo Giving your company a name, a tagline and a logo Launch the brand creating your first products, offering your services, or making a name for yourself Manage the brand manage your brand going forward: dedicated team, always monitoring your company’s reputation, doing continuing research, and updating the brand as the market evolves.