About the Author Wendel Clark began writing in , with work published in academic journals such as "Babel" and "The Podium. In his book Building Strong Brands , David Aaker talks about the need for marketers to move beyond the management of brands to the management of brand systems.
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Thurs-Sherlock - September 6th, Twitter Facebook LinkedIn Mobile. Browse by topic Select Topic? When it comes to our brand, however, it's usually done on the fly under tight deadlines and feels very ad hoc. Over a period of time, we'll find ourselves with a group of brand assets that don't align and messages that contradict one another.
What was once relevant is no longer, and we begin losing market share growth because the brand is not working as intended. In my experience, there are five steps to structure or restructure your brand for growth. Set clear objectives for your company and align the brand goals.
Brands are most powerful when they are aligned with the goals of a company. Hold a strategic meeting with key stakeholders in your organization and clarify the plan for the coming 12 months, as well as three, five and 10 years out. Consider the markets you might operate in, the size you expect to be, your product or service diversification plans, and the opportunities you foresee.
You may have answered these in the past, but this time, discuss these variables within the context of your brand. Define what role the brand will play in helping you reach these goals and targets. Brands can only be successfully tied to company growth when we understand what success looks like.
Consider your brand architecture. Amending the structure of your brand later down the road is costly, painful and disruptive to growth. Challenger brands are like the people leaning out the windows yelling into the rain in the film Network. Their contempt is for the restrictions and the norms that confine how sectors behave.
These are brands built on personality and purpose. Niche brands are about perspective and expertise. They manifest in two key forms in my view: Cult — Some brands choose to operate under the radar. These brands are found rather than marketed, and they deliberately look to set themselves apart from the mainstream.
As a result, they develop passionate fan bases but remain largely unknown. Cult brands are about exclusivity and integrity. In the case of Sriracha, they have been name-checked on The Simpsons, s potted on the International Space Station and even had a film made about them. So five options, five choices, right? This is where it gets really interesting. In his book Building Strong Brands , David Aaker talks about the need for marketers to move beyond the management of brands to the management of brand systems.
Increasingly those systems incorporate elements of several of these approaches as brands mix scale with intimacy to rebalance their portfolios and broaden their appeal.
Burberry for example now have sub-labels that run all the way from accessible to exclusive. Vespa — the idiosyncratic motorbike — is pushing into India, the largest vehicle market in the world. All of these strategies are shifting and mixing the mechanisms. But the mechanisms are exactly that — ultimately, the key to competitiveness is understanding the goals you have set and the mindset your brand will need to push forward in the face of ramping pressure.
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The brand growth strategy matrix is basically a way of visually representing the options that a company has in order to increase its market growth. Find out about the brand growth strategy matrix with help from an experienced marketing professional in this free video clip. The brand growth strategy matrix is a simple method for visually representing the options a company can use in order to increase its market growth. The matrix considers two dimensions, products and markets, and considers whether they are new or existing. Build A Human Centric Brand. Join us for The Un-Conference: Degrees of Brand Strategy for a Changing World, April , in San Diego, California. A fun, competitive-learning experience reserved for 50 marketing oriented leaders and professionals.