Growing your brand
Your most valuable asset is your brand. A strong brand is a shield against competition, offers stability in volatile market conditions and provides some protection against the negative effects of bad publicity. Developing such brands is, however, not easy; it requires consistency and continuity of effort as well as commitment and constant monitoring. This is where we can help – by examining your brand from every perspective, dissecting its emotional attributes and personality as well as its functional aspects, and by adopting a creative yet structured approach, we will ensure its value is optimised.
It’s surprising how often the position of a brand shifts – it might be due to changing consumer attitudes or requirements, new entrants to the market, or simply a lack of marketing activity and support.
As part of an overall health check, or as a separate exercise, we can map how your brand is perceived, vis a vis the competition and identify any action that needs to be taken to improve your position and competitiveness.
Your brand needs a regular health check, for example:
- is awareness increasing or declining?
- is it still true to your organisation’s vision and values?
- is it remaining distinctive and unique?
- is it retaining its relevance to consumers?
- does it still evoke an emotional connection with consumers?
You need to regularly ask and answer these questions in order to keep your brand healthy. Ask us how we use and apply consumer insights to make sure brands stay in peak condition and to revive those that are flagging.
Behind all successful brands is an effective brand strategy – the overarching plan from which every other aspect relating to the brand flows. It provides a touchstone for all your actions and ensures that your brand development and NPD are consistent and work together to achieve a successful outcome. We can develop and help you implement a strategy to ensure your brand realises its full potential and remains a sustainable, long term business asset.
- Could you extend your brand by launching a new or modified product into the same market?
- Is your brand strong enough to stretch into a new product area?
These are high risk strategies – failure is a serious possibility which not only results in wasted investment but also can alienate loyal customers and have a long-lasting detrimental impact on brand image. Before embarking on such an exercise it’s essential to fully understand the core essence of your brand, how strong consumers’ associations are with its values and how relevant these values are to the proposed new product/market. Our approach to brand extension/brand stretch studies is rigorous and uncompromising so as to maximise your likelihood of success.