Vigorously developing agricultural brand is an important starting point to smooth the “double circulation”, which is of great significance to realize high-quality agricultural products at higher prices and help rural revitalization. In this paper, the difference of enterprise quality investment behavior under the enterprise brand and regional public brand strategies is analyzed by using two-stage game model, and then the interactive development path of enterprise brand and public brand is explored based on the development status of agricultural brand in China. The results show that: (1) Compared with enterprise brand, on the one hand, public brand makes consumers have more observation of past product quality and this positive reputation effect increases the motivation of enterprise quality investment. On the other hand, the collective attribute of public brand will also produce negative “free-riding” effect and inhibit the enterprise’s quality investment motivation. (2) When market supervision and brand scale are introduced, the brand reputation effect is greater than the “free-riding” effect if there is supervision in the market, the incentive effect of enterprise quality investment will present: multi-category public brand ＞ single category public brand ＞ enterprise brand. (3) It constructs two interactive development paths between enterprise brand and the public brand based on the new development pattern of “double circulation” to put forward countermeasures and suggestions for choosing suitable brand strategies and development paths of agricultural products of various categories in various regions according to local conditions.