Archives

Categories

AUSTIN WEST

How Successful Brands Will Be Built In The Future | Part Four

January 31, 2017

How Successful Brands Will Be Built In The Future | Part Four

THE PARAMETERS FOR BRAND SUCCESS

There are eight key points that brands managers will need to keep in mind when devising a brand strategy in the years to come.

7. GLOBALIZATION:
Globalization has been embraced not only by large corporations, but by small-to-medium-sized businesses as well. However, there are still no simple or self-evident answers to issues of global brand management. Do branding activities have to be managed the same way the world over? Should the brand identity be exactly the same in every region? Upon what basis can the decision for or against a global brand be made?

8. SOCIAL AND ECONOMIC CHANGE:
The world is changing. To name but a few issues, climate change, new media, different ways of obtaining and processing information, food scandals, and the global financial crisis, are effecting fundamental, long-term changes in the way society thinks and acts. The keyword here is “sustainability.” Brand-builders of the future will be called upon to react to these changes, and in some cases take the lead in shaping the world of tomorrow.

Although many companies have done their homework and made significant advances in the area of branding over the past few years, existing brand management structures (to the extent they are in place at all) are often inadequately meeting the complex demands of the future. A study by Bruhn on the subject of integrated communication confirms this impression and identifies the organizational and structural barriers to successful implementation of branding strategies. This is an area in which management will continue to be challenged, and will be called upon to take advantage of state-of-the-art brand-building tools. In the future, managers will need to establish organizational and decision-making structures that transcend theory-based “either/or” considerations and instead allow for pragmatic “both/and” solutions.

Comments are closed.