Brand Management…Can It Survive?

Brand Management has been a fixture in successful marketing companies for decades.  It holds out the promise of individuals managing their “own” businesses as a successful model to manage a large number of products.  It has worked wonderfully.  Just look at companies like  Kraft, P&G, and others.  It also is a terrific way to train people and give them the skills to manage.

Yet, can brand management as we know it continue to survive in the future?   Given the complexities of product development, business strategy, positioning, marketing communications, etc., how can a brand manager keep up?  Staff groups as support have certainly helped many Companies manage this problem in the past.  But, it seems to me the “marketing world” is far more complex today then it was in the 60’s and 70’s.  In addition, there is always a natural “friction” between running a brand in a Company and managing the Company.  Look how many Brands P&G has diversified itself of over the past 10 years… do you really think this was at the suggestion of those brand managers?

So, what does the future of the Brand Management system hold?  Perhaps it is category management?  Perhaps asset management?  Your input and thoughts are welcome!

Rich

Bizvice:  Business Stragegy, Marketing & Entrepreneurship

An Open Invitation

As a thank you to those of you who take the time to read and follow my blog, I would like to make this offer:  Ask me any question related to Business Strategy, Marketing or Entrepreneurship and I will do my best to provide you with an honest answer.  This is an opportunity for you to receive free consulting advice from someone who has been there and done that.  Just give me as many facts as you can surrounding your question and I will give you my best advice!  

Rich

Bizvice:  Business Strategy, Marketing & Entrepreneurship

Back To The Future

Despite the growing chorus of the need to do marketing differently in today’s wired world, the need still exists for Companies to communicate with their potential customers with a message of why they should buy your products.  So, is this really “back to the future.”?   I believe it is…  It is important for Marketers to keep focused on communicating their key point of difference.  To be sure, there are many more options for such communications.  But, at the end of the day, it is all about how many target customers you can reach most efficiently with the right “message.”

Using the “new” media is often an experiment.   And, every advertiser wants to stand out from the crowd.  So, often the message of why a product/service is better is often lost in the translation of “creativity.”   People buy products because they believe they have a need which will be uniquely filled by that product.  If you do not communicate your uniqueness in a compelling way which gets this message across, then you are wasting valuable resources and money.

So, the next time your “creatives” develop a new approach to market your  product ask the simple question:  “Does this approach focus on why my product is truly unique versus competition?”

Rich

Bizvice:  Business Strategy, Marketing & Entrepreneurship

Growth versus Expense Reductions

In the 80’s and 90’s the mantra was expense reductions for companies of all sizes.  That was the way to improve the bottom line.  Those companies that were successful in reducing their expenses did well in the short term.  I emphasise short term!   You cannot be successful in the long term by simply getting expenses in line.   You MUST grow the top line to truly be successful. 

Of course, growing your top line is much harder then cutting expenses.  You must find a way to revitalize existing businesses, find new growth opportunities and explore mergers and acquisitions.  This is hard work!  It is always much easier simply to fire people, close plants or take other measures to cut  expenses.  Yet, if you follow a disciplined approach to growth it reduces complexity and increases your odds for success!

So, how do you approach growth?  It requires a complete analysis of your Company’s strengths and weaknesses, the same for your key competitors, and a customer based needs analysis.  Thus, where need is greatest and your company has strengths and your competition is weak, you will find the best opportunities.  Of course this is the area that needs complete objectivity and a thorough vetting.  That’s where the hard work lies!

Rich

Bizvice:  Business Strategy, Marketing & Entrepreneurship