Vignesh DN
I truly believe that Branding is everything. Companies live or die on the strength of their brand. Take for the instance of Coca Cola which has been in existence since 1887, even today despite of being in the already mature market, Coca holds a substantial market share hugely due to the fact that Coco Cola’s brand name and its brand equity has never been compromised despite the gazillion allegations that are thrown around at the company across the 7 oceans. Coca Cola has been able to retain and build its strength because of efficiently managing its brand globally which is a tedious job considering the fact that every country has a culture of its own based on which the brand as well as the product name has to be managed respectively.
Thus there would be quite a lot of variation in how a brand manager in one
continent runs his operations when compared to the other. On the same note, an
example of how the strength of a brand could be the reason for its pitfall
would be Nestle, Maggie noodles had come under lot of fire where in the Indian
government had asked Nestle to completely withdraw the product as a result of
which Nestle’s share price went for a toss.
Managing
brands today is a complex practice, whether in large multinational or small
family run companies. It requires dedication, meticulousness, teamwork,
organization, planning, perseverance and a great deal of passion. At the same
time, it requires to count on rather business, design or communications
perspectives, while knowing well enough about the product it offers and the
industry it participates in.
Effective branding has always been an
important part of business, from the unique marks used by potters in ancient
Greece and Rome to the multi-channel marketing strategies of today’s global
corporations. Branding is (and has always been) an important component of the
customer experience, a reflection of each company’s promise and commitment.
When
reviewing that every touch-point of the brand meets the values it stands for
and accomplishes the corporate identity guidelines, it can be combined with
other major universal objectives: to update and align the marketing message across
every touch point.Truly successful brands represent a commonly
understood, relevantly differentiating idea that transcends cultures and
geographies.
Managing brands in today’s inter-connected
and complex business environment is challenging. Brands are affected by
heightened competition, regulations, supply chain and distribution issues and
manufacturing costs, while requiring constant advocacy and reputation
management.
According to Kapferer, the following mantras can be used in managing brands at a
global level while exhibiting the following characteristics:
Being
responsive to change:
Brand management is not about rigid
enforcement of frameworks, rules and practices. Successful global brands are
managed by balancing ‘consistent brand guardrails’ with the ‘freedom to adapt
to leverage local growth opportunities’. Constantly evaluating a brand’s
strategy against its guardrails, vision and core mission ensures consistency in
the global brand promise across countries and regions. Philips, for example,
made a big impact in China, where its local business developed a soy milk maker
to the delight of consumers worried about food safety.
Exploiting
technology:
The emergence of technology-enabled solutions
has fundamentally changed the practice of brand management. Forward-thinking organizations
have identified the benefits and scalability of technology in brand management
and have quickly adopted solutions. Unilever,
for example, has used the marketing software company Percolate to support its
global brand management practices.
Efficient Top
Management:
Ensuring consistency in brand identity,
strategy, marketing and activation should be the core role and responsibility
of at least one individual in an organization. These people are the brand
custodians and their job is not to act like a cruel enforcer of rules but to be
a strategic guide and mentor who can advise local brand marketing teams on strategic
issues such as managing brand guidelines, ensuring consistency in brand
positioning, adapting or localizing brand communications, integrating local
marketing strategies into the global brand strategy and facilitating the
exchange of knowledge and best practices between local and global brand teams.
Align
organizational structures:
People can only work to their fullest
capacity when organizational structures are designed and aligned to ensure
this. Global, regional and local brand management functions should be
seamlessly integrated in an organization. The global versus local issue of
local push-and-pull over strategic issues is well documented and observed in
management practices. The same tension can completely damage the execution of
the most effective brand management. Roles and responsibilities in brand
management structures should be clearly defined and overlaps reduced to reduce
sophistication in execution of strategies.
Being proactive
Global brand management needs to be a
proactive discipline rather than a reactive one. The evolution of technology,
social media, next generation customer relationship management tools, social
listening platforms, cultural and trend analysis, co-creation, crowd-funding
and disruptive innovation techniques have made it easier for brand marketers to
stay close to the consumer and become more accurate in spotting, predicting and
leveraging trends. Brand management practices need to be aligned to these new
and emerging tools and techniques and should be able to integrate them in key
phases of the function.
But above all I truly believe that in the
many years to come, Community
Development and Brand Advocacy are
going to the front-runners as the core functions of Customer-Brand
relationships at a global level.
3 comments:
Branding is not only a way of recognition of the product, but it also creates certain instant associations and emotions within a customer. These emotions define whether the brand or product has a positive or negative connotation in the market. Industrial Psychology shows that customers have a certain idea of the brand because of media. An identity is formed. The kind of reaction generated affects the whole supply and demand chain of the market.
Brand management is like eating fish. very nice explanation. thanks.
Get Your PR||pr agencies in mumbai
Thanks for sharing this wonderful blog! Branding is not only a way of recognition of the product, but it also creates certain instant associations and emotions within a customer. These emotions define whether the brand or product has a positive or negative connotation in the market. For more details visit Site Hub
Post a Comment