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.
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