Ready For the Next Move? Understanding a Brand’s Potential Requires a New Set of Metrics
- Topics:
- Brand Management
- Tags:
- Brand,
- Branding,
- Marketing,
- Marsh & McLennan Companies
- Source:
- Marsh & McLennan Companies
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Overview: The article starts with the real-life examples of American Express, TotalFina and Kmart. Each of these moves clearly raises high-level strategic issues for the companies involved. But in a world where brand strategy can no longer be separated from business strategy, key brand issues must also be addressed. A formal brand assessment thus becomes a crucial prerequisite to most major strategic initiatives. Before a company undertakes a comprehensive self-assessment of its brand—not to mention major brand-related investments— it makes sense to determine the importance of brand in the industry. In a relatively few cases, brand plays virtually no role in shifting demand. Assuming that a strong brand can make a difference for a company, managers need a strategy to capitalize on that potential. There are three basic types of brand architecture—master brand, holding company, and asymmetrical. The article further illustrates the happenings in the online brokerage business. While an analysis of a company’s present brand status is a requirement for planning future moves, it may not be sufficient. With customer priorities and the competitive environment changing so rapidly, companies must try to anticipate where tomorrow’s brand opportunities will be.
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Format: PDF | Size: 460KB | Date: Jan 2000 | Pages: 14
