Brand Management Strategies
We can work with your firm to apply superior marketing and
branding techniques (including the
Kano model) to at least,
a specific product, product line, market segment or brand that you carry.
Excellent
brand management will increase your product's perceived value to
your customers and thereby increase your brand franchise and
brand equity. Your brand is your implied promise that the level
of quality people should expect from you will continue with
present and future purchases of your same products or services.
A strong branding strategy is crucial to differentiate you from your
competitors. It will communicate your unique values, build trust
and loyalty among your customers, and engage your target
audience. Furthermore, it will help your firm keep focus on your
business goals.
Some banks and financial firms companies are hesitant in
focusing their target audience or service offerings. They fear
that such a strategy will limit their revenues. But, they can't
be more wrong. The contrary is true - very true.
As Al Ries and Jack Trout lament in their book
The 22 Immutable Laws of Marketing:
There seems to be an
almost religious belief that the wider net catches more
customers, in spite of many examples to the contrary.
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The marketing experts offer the Pepsi-Coke
rivalry as one example. Coke outsold Pepsi by more than five to
one by focusing exclusively on the teenage market. McDonalds
targets children, but it turns out that adults - their parents
are eating more burgers than the kids. Other firms in several
industries have successfully branded themselves in terms of
geographical location, process, issue, and products or services.
Your brand and quality management dexterity must be superior to that of your
competitors, and must be consistent with a level of service and
expertise that is not available from your competitors. You must
focus on creating and revitalizing your brand using a sound
positioning strategy and reinforcing your brand with creative,
strategically based solutions. Moreover, you can cultivate and
maintain a market leadership position in an important
competitive area in your market, in spite of the overall
extremely competitive environment that has become fiercer than
it has ever been.
Obviously, competition is very good for consumers, but as
Nwankama Nwankama states: if you are going to take the fight
to your competition and if you intend to dominate (or even
survive) in your chosen market area or
service area, you must take charge,
create a difference and crank up the
competitive pressure on your rivals in three central areas:
Your strategies must truly be guided
by a well-instituted, abundantly erudite and highly ethical
intelligence process.
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