Brand Strategy

Five brand success factors

An efficient and scalable business model combined with innovation is necessary to stay ahead of the competition. But individually these are not sufficient to make a successful global brand. Five further overlapping components are required:
1. A great brand experience
Brand experience is not limited to the product or service. Every contact with the brand counts. After all brand is about creating an inseparable relationships between the consumers and brands. A great brand experience requires not only ‘etic’ proficiency but also ‘emic’ sensitivity is required.
2. A clear and consistent positioning
People need to know what a brand stands for. After all a brand is an extension of the personality and image of the consumers. That’s why an established and successful marketing campaign should not be abandoned simply for the sake of saying something new. When change is required, the challenge is to re-interpret the brand positioning in a way that is appropriate to the current time and culture. Brand building is about consistency, about going the extra mile. Only through the possession of a true belief in their power and potential can brands be successfully developed and maintained.
3. A sense of dynamism
Innovation is key to brand success but it is NOT limited to the product/functional benefits of the brand. Product development – easy for established manufacturer to duplicate products. Real product differentiation is difficult to achieve and when achieved difficult to own. A brand that sets the trends rather than reacting to them is likely to be seen as different and more popular. A dynamic and all around exciting approach to brand care and development must always be present.
4. A sense of belonging
Today consumers in developing countries have become ever more discerning. With raising income leads to improved choices. They love brands but they also like to save, even at higher income levels, they love to hunt for bargains. This thus calls for an ever more creative differentiation as pursue through innovative marketing messages, use of media, and the unique shopping experience a brand can offer to meet the needs and preference of the growing consumer base.
5. A strong corporate culture
Today people seek out brands that display their values by the actions they take. In consumer goods industry and/or other industry with a strong customer component it is particularly important that everyone involved with the brand understands and embodies its values.

Posted in Articles, Research, Wisdom Generator.