To add to that complexity, not only are there more channels — there are more regions, more products, and more people with disposable income that your brand needs to cater to. Taking advantage of all those opportunities means being on all the time, ready to deliver the right message through the right channel at the right time.
Understanding What Makes a Brand First, get acquainted with the elements that make up a brand — beyond the logo.
Defining Brand Identity covers seven facets that brand owners need to establish, in order to give your organization guidelines for decision-making and messaging. Connecting at the Atomic Level Second, understand how people actually form connections with brands. How the Human Brain Experiences Your Brand covers the biological basis of brand recognition and association; you can create visual markers with neuroscience in mind.
Building the Brand Internally Remember to look within the organization as well. If brands are the sum of interactions with people, that includes employees too. Work Culture: The Inward Elements of a Brand explains the interactions between internal work culture and external-facing messaging, and how to direct them. We broke it down into a few component parts. Our report, Brand Building for the Modern Marketer , explains why ads should focus more on customer acquisition rather than retention and mass markets rather than extremely specific segments.
Setting Down a Strategy Build a strategy around the resources at your disposal and the trends affecting your industry.
First, consult The Seven Marketing Trends to Watch in , our report on the disruptive forces affecting brands right now. Putting Process, Technology, and People in Place You need to equip your team with routines and tools so that they can execute on the plans you create. Marketing Operations Why Your Brand Needs an Efficient Supply Chain outlines how your marketing works like a supply chain, and the tools needed to keep production going. Use The Ultimate Skills Development Handbook for Marketers to get your team ready to meet the brand management challenge ahead of them.
And our whitepaper Four Steps for a More Efficient Marketing Workflow provides a framework that brands should follow to get results from their marketing.
Finally, review our post on the current marketing technology landscape to understand why content marketing tools are more necessary than ever for brand management. Going Global The emerging middle class means more brands will pursue global strategies that need to be tailored to individual markets.
You need the tools for efficient global branding, too; you can look to this example from MasterCard for a way to use technology to cut down on complexity. You can also use our campaign brief template for an easy way to communicate your needs to an agency.
Finally, read from Percolate co-founder Noah Brier on why marketing-specific project management software is necessary for executing on-brand campaigns. This can be a painstaking task unless you rely on software to make content falls within guidelines. For instance, Unilever brands use software with fonts and logos preloaded , so that images are ready to be published in minutes. And Western Digital uses mobile apps in tandem with automated approvals workflows and pre-approved responses to make sure questions on social answered in an on-brand manner.
As time goes on, your team should be collecting information on how expressions of your brand — marketing campaigns, customer support, in-store experiences, and even the product itself — resonate with your audience. Just like the product guys at Nike. But the brand also informs how they communicate externally. They use sponsorship of authentic and athletic heroes to demonstrate it. Lance Armstrong on the other hand, was dropped. It makes the value proposition the connection point of the brand to the user.
A way to build the brand is through defining what we call the Brand DNA, or the combination of notable attributes that make an organisation unique and what empowers the brand at its core. When Steve Jobs took back the reigns in , one of the first things he did was look into the brand.
What went on at Apple was the brand led the decision-making. The essence of the brand, the Passion to Change the World, needed to find its way through every stakeholder touch point, whether that be product, employment, advertising, experiential or any other. Going forward it will be their ability to remain consistent that will keep them relevant and on top of the game. How can Product Managers learn from Brand Managers when it comes to influencing their executive stakeholders to create an impact?
Assuming your organisation has done the brand work, it is applicable both top down and bottom up. Product Managers work in the detail of features, benefits and the functions of what their product fulfils. They need to rise above the detail and ask themselves, why would anyone buy my product? What will make it successful? And ultimately, does it even make sense that the product is coming from my company brand?
I know that in corporations the brand sounds like a marketing responsibility. That way you can take ownership, connect and be empowered by the brand.
Bring it into your work. Thank you to Dan Ratner for sharing your insights into how brand and product management fit in together. In product, managing trends are analyzed , and taste and preference of the consumers are understood, before getting the product in the market, while branding encompasses a much bigger picture. It is a brand that remains stick in the minds of the people when all the marketing efforts are over. Proper strategies are developed to explain to the customers your stand, promises and the personality you are emphasizing. It is not limited to only your logo, slogan, colour palette that conveys your message but it lives in your day to day interaction that you have with the market.
All the organizations whether they are profit oriented or non-profitable, they sell, but the way they sell depends on what they want to achieve, their goals and aspirations.
Thoroughly researched, and planned product management activities generate the market for the products and services and people would find them near their homes or work areas. To get a considerable market share, companies should begin with a strong brand positioning or a strategy.
There might be a feeling you do not have a great B2B brand but by placing two companies against each other, the one that reflects something of value would have easy reaching, closing, retaining and engaging customers. For generating loyal customers, companies perform more than mere advertising, they attract customers with free gifts and incentives and generate an environment that makes customers as a part of their brand. Brand loyalty means generating trust, loyalty, value, commitment and repeats purchases and it is generated as your customers know what exactly what you are offering to them in terms of services and product satisfaction.
And it is also easy to start a dialogue with the new prospects as now they are acquainted with your offerings and you also know what the quality standards you are maintaining and whether you are building a loyal customer or not? In product management, the goal is to generate the business value from the product and to get good returns on their investment.
A product manager frames the goals of the business, for example, whether to enter a new market or not, how to save cost, create the brand and generate revenue. He describes a financial framework of a product and deciphers the way a business model should operate. A financial forecast is also formulated to analyse when a break-even might occur or what would be the right time for the product to launch in the market and the service to be inaugurated and how their proposition can become a profitable venture.
However, we can say branding is more oriented towards an emotional side. A Brand manager touches the emotional chord of the potential customers so that they could immediately feel related towards the brand of the product or services they are offering. Once the customer is emotionally attached he or she would sustain forever towards the brand, for instance, if a customer has started buying a branded Tata tea, he would always prefer the same tea as it had generated a special taste and flavour and had been projected as a household name.
If branding did strategically it generates brand equity, this means the amount of money that customers are intending to pay only because it is your brand. Besides, brand equity makes company valuable in the long run. Getting the brand connected to the equity and assets literally changes the function of the marketing and allows the company to expand beyond strategies. Brand equity revolves around four main concepts: brand loyalty, brand associations, awareness and quality with each generating a value for a firm in many ways. Once a brand has identified its value of equity than a brand equity roadmap can be drafted to manage the value that can be generated from the same.
Cognitive and emotional resistance to innovations: concept and measurement Cristiano A. If your brand is innovative and fresh, promote it through content marketing. Ace the Skype interview Interview Advice Skype is increasingly being adopted by businesses as an interview medium. Brand and Product management is conducive to each other and brand positioning can only do effectively if product management is generated strategically and successfully. Similar Articles Under - Product Management. The most comprehensive brand management system on the market is digital asset management DAM.