So many questions. Who is using the product or service? Why should they want it? Even basic marketing usability and cost effectiveness needs to be addressed (notice the big companies changing back to flat logos lately?). Let's get it right the first time.
Once we know how to reach the target market it's time to Design. There's no single way to approach this, and clients are encouraged to share thoughts and ideas throughout the process. Clients will always receive more than one version to choose from.
After the designs are presented and explained, a final direction is chosen and the design is fine-tuned for end use. Depending on requirements you may receive multiple file types to cover potential future uses (for example a logo would require 6-12 files).