Last few decades have changed our world beyond recognition. There has been unprecedented progress in all spheres of life. Technology and scientific advancement has played major role affecting all parts of the economy, politics as well as markets. With globalization and opening of markets we see a sea of changing in the way business is conducted and organizations are structured. Global and open markets have changed the structure of consumer economy. The financial mechanisms that aid in trade and consumer buying too have impacted the consumer’s buying habits. Online trading and buying, online payments, mobile banking etc have empowered the customers to make their choices and buying decisions at their discretion.
Marketer’s job has always been very challenging, but the complexities that they face in the market today are different from the earlier times. With markets opening up the competition from ‘Me Too’ brands have increased considerably. Brands face competition from local brands as well as foreign brands and generic products as well.
With brand logo and image being central to brand, the brand logo, color and image or design hold the key to the brand image as perceived and recalled by the consumers. Good brand management calls for strengthening and re-affirming this brand image association with the consumers at all times. Any slight change in the brand image be it the color, logo or image, the consumer loyalty gets affected resulting in change of buying decision by the consumer. As the consumer perceives an image and associates a pleasant or unpleasant experience with a particular brand, the consumer perception management is a very important part of brand management. With the changes in the technology and lifestyle, the expectations of the consumers with reference to the brand image too changes. Consumers are likely to expect trendy, stylish and modern brand images that go with the current trends rather than an outdated logo that is perceived to be old fashioned. While the brand logos and image have to be modified to suit the latest trends and reach out to the customer, the logos have to retain elements of the old brand components mainly of colors, image etc in modified but familiar pattern so that the consumers continue to recognize and recall the old brand familiarity and image.
Over the years with change in communication, publishing and electronic media, the advertising and promotion of brands too have had to change and keep up with the new trends. Traditional mass advertising of brands is no longer prevalent. The concept of personalized and customized advertising to the target customers is in. On one hand the consumer segment has become highly fragmented and warrants that the brand communication reach out to the consumers at an individual and customized manner. On the other hand, the consumer behavior and expectations too have changed. Consumers expect much more from the brand than ever before. Consumers today are very demanding in terms of their expectations of the product as well as of the brand reputation, image and value etc. The well informed customers of today, having access to electronic media like to ask for more information, compare with competition and arrive at their decision based on rationalization. The brand communication has to take into account the change in consumer’s buying process and position the brand image as well as the communication accordingly to the individual customers.
Social Media networks provide an interactive platform for the brand managers and consumers to interact with one another. The social media networks are participant driven and the consumers have access to a larger audience to discuss, share, question and voice their opinions. Thus this media provides an exciting as well as challenging platform for brand managers to position their brands, to engage the consumers to get to know the brand, to get the already consumers to influence the others positively and build loyal communities supporting the brand.
The 10 Most Common Branding Challenges
Treating brands as assets
The ongoing pressure to deliver short-term financial results coupled with the fragmentation of media will tempt organizations to focus on tactics and measurables and neglect the objective of building assets.
Possessing a compelling vision
A brand vision needs to differentiate itself, resonate with customers and inspire employees. It needs to be feasible to implement, work over time in a dynamic marketplace and drive brand-building programs. Visions that work are usually multidimensional and adaptable to different contexts. They employ concepts such as brand personality, organizational values, a higher purpose, and in general they simply move beyond functional benefits.
Creating new subcategories
The only way to grow, with rare exceptions, is to develop “must have” innovations that define new subcategories and build barriers to inhibit competitors from gaining relevance. That requires substantial or transformational innovation and a new ability to manage the perceptions of a subcategory so that it wins.
Generating breakthrough brand building
Exceptional ideas and executions that break out of the clutter are necessary in order to bring the brand vision to life. These ideas and the execution of them are more critical than the size of your budget. “Good” is just not good enough. That means making sure you get more ideas from more sources, and that you make sure you have the mechanisms in place to recognize brilliance and bring those ideas to market – quickly.
Achieving integrated marketing communication (IMC). IMC is more elusive and difficult than ever in light of the various methods you have to choose from such as advertising, sponsorships, digital, mobile, social media and more. These methods tend to compete with each other rather than reinforce because the media scene and options have become so complex, so dynamic, and because product and country silos reflect competition and isolation rather than cooperation and communication.
Building a digital strategy
This arena is complex, dynamic and in need of a different mindset. The reality is, the audience is in control here. New capabilities, creative initiatives and new ways to work with other marketing modalities are required. Adjust the digital marketing focus from the offering and the brand to the customer’s sweet spot, which is to say the activities and opinions in which they are interested or even passionate about. Develop programs around that sweet spot in which the brand is an active partner, such as Pampers did with Pampers Village or what Avon did with their Walk for Breast Cancer.
Building your brand internally
It is hard to achieve successful integrated marketing communications or breakthrough marketing without employees both knowing the vision and caringabout it. The brand vision that lacks a higher purpose will find the inspiration challenge almost impossible.
Maintaining brand relevance
Brands face three relevance threats: Fewer customers buying what the brand is offering, emerging reasons not-to-buy, and loss of energy. Detecting and responding to each requires an in-depth knowledge of the market, plus a willingness to invest and change.
Creating a brand-portfolio strategy that yields synergy and clarity
Brands need well-defined roles and visions that support those roles. Strategic brands should be identified and resourced, and branded differentiators and energizers should be created and managed.
Leveraging brand assets to enable growth
A brand portfolio should foster growth by enabling new offerings, extending the brand vertically or extending the brand into another product class. The goal is to apply the brand to new contexts where the brand both adds value and enhances itself.
Marketer’s job has always been very challenging, but the complexities that they face in the market today are different from the earlier times. With markets opening up the competition from ‘Me Too’ brands have increased considerably. Brands face competition from local brands as well as foreign brands and generic products as well.
With brand logo and image being central to brand, the brand logo, color and image or design hold the key to the brand image as perceived and recalled by the consumers. Good brand management calls for strengthening and re-affirming this brand image association with the consumers at all times. Any slight change in the brand image be it the color, logo or image, the consumer loyalty gets affected resulting in change of buying decision by the consumer. As the consumer perceives an image and associates a pleasant or unpleasant experience with a particular brand, the consumer perception management is a very important part of brand management. With the changes in the technology and lifestyle, the expectations of the consumers with reference to the brand image too changes. Consumers are likely to expect trendy, stylish and modern brand images that go with the current trends rather than an outdated logo that is perceived to be old fashioned. While the brand logos and image have to be modified to suit the latest trends and reach out to the customer, the logos have to retain elements of the old brand components mainly of colors, image etc in modified but familiar pattern so that the consumers continue to recognize and recall the old brand familiarity and image.
Over the years with change in communication, publishing and electronic media, the advertising and promotion of brands too have had to change and keep up with the new trends. Traditional mass advertising of brands is no longer prevalent. The concept of personalized and customized advertising to the target customers is in. On one hand the consumer segment has become highly fragmented and warrants that the brand communication reach out to the consumers at an individual and customized manner. On the other hand, the consumer behavior and expectations too have changed. Consumers expect much more from the brand than ever before. Consumers today are very demanding in terms of their expectations of the product as well as of the brand reputation, image and value etc. The well informed customers of today, having access to electronic media like to ask for more information, compare with competition and arrive at their decision based on rationalization. The brand communication has to take into account the change in consumer’s buying process and position the brand image as well as the communication accordingly to the individual customers.
Social Media networks provide an interactive platform for the brand managers and consumers to interact with one another. The social media networks are participant driven and the consumers have access to a larger audience to discuss, share, question and voice their opinions. Thus this media provides an exciting as well as challenging platform for brand managers to position their brands, to engage the consumers to get to know the brand, to get the already consumers to influence the others positively and build loyal communities supporting the brand.
The 10 Most Common Branding Challenges
Treating brands as assets
The ongoing pressure to deliver short-term financial results coupled with the fragmentation of media will tempt organizations to focus on tactics and measurables and neglect the objective of building assets.
Possessing a compelling vision
A brand vision needs to differentiate itself, resonate with customers and inspire employees. It needs to be feasible to implement, work over time in a dynamic marketplace and drive brand-building programs. Visions that work are usually multidimensional and adaptable to different contexts. They employ concepts such as brand personality, organizational values, a higher purpose, and in general they simply move beyond functional benefits.
Creating new subcategories
The only way to grow, with rare exceptions, is to develop “must have” innovations that define new subcategories and build barriers to inhibit competitors from gaining relevance. That requires substantial or transformational innovation and a new ability to manage the perceptions of a subcategory so that it wins.
Generating breakthrough brand building
Exceptional ideas and executions that break out of the clutter are necessary in order to bring the brand vision to life. These ideas and the execution of them are more critical than the size of your budget. “Good” is just not good enough. That means making sure you get more ideas from more sources, and that you make sure you have the mechanisms in place to recognize brilliance and bring those ideas to market – quickly.
Achieving integrated marketing communication (IMC). IMC is more elusive and difficult than ever in light of the various methods you have to choose from such as advertising, sponsorships, digital, mobile, social media and more. These methods tend to compete with each other rather than reinforce because the media scene and options have become so complex, so dynamic, and because product and country silos reflect competition and isolation rather than cooperation and communication.
Building a digital strategy
This arena is complex, dynamic and in need of a different mindset. The reality is, the audience is in control here. New capabilities, creative initiatives and new ways to work with other marketing modalities are required. Adjust the digital marketing focus from the offering and the brand to the customer’s sweet spot, which is to say the activities and opinions in which they are interested or even passionate about. Develop programs around that sweet spot in which the brand is an active partner, such as Pampers did with Pampers Village or what Avon did with their Walk for Breast Cancer.
Building your brand internally
It is hard to achieve successful integrated marketing communications or breakthrough marketing without employees both knowing the vision and caringabout it. The brand vision that lacks a higher purpose will find the inspiration challenge almost impossible.
Maintaining brand relevance
Brands face three relevance threats: Fewer customers buying what the brand is offering, emerging reasons not-to-buy, and loss of energy. Detecting and responding to each requires an in-depth knowledge of the market, plus a willingness to invest and change.
Creating a brand-portfolio strategy that yields synergy and clarity
Brands need well-defined roles and visions that support those roles. Strategic brands should be identified and resourced, and branded differentiators and energizers should be created and managed.
Leveraging brand assets to enable growth
A brand portfolio should foster growth by enabling new offerings, extending the brand vertically or extending the brand into another product class. The goal is to apply the brand to new contexts where the brand both adds value and enhances itself.
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