Tuesday 14 July 2015

Brand Leadership



The 4 Key Challenges of Achieving Brand Leadership:
1. Positioning: To originate a strategy, which provides identity, differentiation and empathy.
2. Architecture: To build a comprehensive architecture providing strategic direction.
3. Programs: To develop effective programs and a system to track the results.
4. Organization: To create a viable brand building organization


What the book tells –
·      Brands are important and substantial financial assets that add significantly to the market value of the overall commercial entity.
·      Brands that are well positioned can deliver sustainable competitive advantages allowing firms to differentiate themselves.
·      Brands enhance profitability – they allow companies to sell products and services at prices higher than the prevailing market rate.


Book speaks about some real life examples –
·      Virgin Atlantic Airways – founded and led by Richard Branson with the objective of “providing all classes of traveler with the highest quality of travel at the lowest cost”.
·      Marriott – which is in the process of extending its brand by creating Marriott Residence Inns, Courtyard by Marriott and Fairfield Inn by Marriott.
·      Adidas – with a new focus on participation in sport rather than attempting to equip just the elite sports people.
·      Nike – with the successful introduction of its flagship stores, Nike Town, and Air Jordan’s.

Richard Branson – Founder Virgin Group dressed during inauguration of “Virgin Bride” in order to get customer attention. Image source – www.google.co.in.
  




For Brand Leadership

I. Positioning: To originate a strategy which provides identity, differentiation and empathy.
Every strong brand actually has two key elements:
1. An identity – a vision of how the brand should be perceived by its target audience.
2. Positioning in the marketplace – a communication strategy to prioritize and focus the brand identity.
Businesses that succeed in building strong brands excel at creating a rich, clear and unambiguous brand identity and supplement that with a positioning program, which clarifies and elaborates on that brand identity.
The brand identity states what the organization wants the brand to stand for – the specific set of associations the brand strategist aspires to create or maintain. Since the brand identity drives and correlates all the brand-building activities carried out, a strong brand identity will always have depth and richness.

II. Architecture
The brand architecture is the relationship which exists between brands and sub brands within the firm’s portfolio. Effective brand architecture will:
1. Link all the brands together productively to create synergies and clarity in customer offerings.
2. Avoid confusion by allowing each brand to be positioned carefully and deliberately.
Businesses that succeed in developing good brand architecture are well placed to grow the value of each brand within the portfolio.

III. Programs
To develop effective programs and a system to track the results.
Brands are formed and built through memorable programs which bring the brand to life. This is more than just advertising, possibly including elements such as:
1. Sponsorships.
2. The Web and other interactive media.
3. Public relations and other initiatives.
Smart companies execute these brand-building programs exceptionally well and measure the results achieved quantitatively so the programs can be evaluated and enhanced over time.

IV. Organization
To create a viable brand building organization.
A good brand building organization will operate globally within a culture and organizational structure, which nurtures and build the brand. That generally requires four elements:
1. A brand champion who will oversee the long-term progress of the brand – avoiding ad-hoc decisions.
2. An international communication system – allowing sharing of insights, ideas and best practices.
3. A common global brand planning process.
4. The ability to execute effective brand-building programs.


            
                                                                                                                           Nikunj Gupta - 1311415

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