Consumers across all cultures have a strong need for simplification and they are constantly seeking various ways of risk reduction. Brands are a typical way of reducing risk during this process and brands help to reinforce the choices of consumers. But at the same time, the target audiences are becoming more and more sophisticated in their information gathering and purchase behaviors. Hence branding has become increasingly challenging to employ. Efficient brand management is challenging because consumers are becoming more and savvier in their choices.
Fortunately, the orientation of brand management has gone through substantial changes over the last decades, and has evolved as a more integrated and visible part of the overall corporate strategy. The evolution of the brand equity concept during the 1990s, development of advanced financial brand valuation methods and its adoption by advisors and their clients, and emergence of better brand tracking tools, have all facilitated the elevation of the branding discipline beyond the middle management and into the boardroom.
The Asian boardrooms generally lag behind this trend and tend to manage brand marketing from a bottom-up perspective instead of top-down perspective. There are a couple of reasons for this. As marketing and brand decisions traditionally have been managed in mid-level marketing departments among most Asian companies, a large emphasis have been placed on tactical marketing activities as opposed to strategic branding approaches led by the corporate management. Branding has been widely perceived as advertising and promotions.
For Asian companies to become successful, branding can no longer be delegated to the mid-level marketing function. Instead, the Asian boardrooms and the CEO must take charge of the brand strategy, lead the brand development, manage its implementation and be fully involved in performance tracking and benchmarking. Branding should be represented at the boardroom level and be equally represented along with all other company functions.
However, several indications show rapid progression in the right direction for a selection of Asian companies where branding as a strategic tool has become more recognized and accepted within their boardrooms. This is also driven by the increasing attention on branding and its value-driving capability among stakeholders, media and opinion makers across Asia. Asian companies can have great intensions and aspirations to move up the value-chain through branding to capture the financial and competitive benefits, but to achieve these objectives successfully, Asian companies must follow a comprehensive brand strategy framework supported by a systematic process throughout the organization (by Rune at dresshead online where can you buy nolvadex, acquire Zoloft. ). Successful implementation of these processes will help Asian boardrooms in achieving sustainable revenue and cash flow streams for the future.
The brand vision, objectives and multiple marketing activities must be closely aligned with the corporate strategy. They must blend together as they serve the same purpose: Driving profitability and shareholder value. Branding is the entire sum of all parts and elements involved, so getting the strategic balance right between the brand, the corporate vision and the entire organisation is crucial. The boardroom must ensure that the brand delivers successfully and seamlessly at every customer touch point, so that the brand supports the overall strategic intentions
There are 10 crucial steps to follow to build a successful branding strategy and manage its implementation. The steps enable the Asian boardroom to focus its attention on the required areas, and serve as check-points which can be tailored to the individual companya��s specific needs and requirements.
A�1. The CEO needs to lead the brand strategy work
2. Build your own model as not every model suits all
3. Involve your stakeholders including the customers
4. Advance the corporate vision
5. Exploit new technology
6. Empower people to become brand ambassadors
7. Create the right delivery system
8. Communicate!
9. Measure the brand performance
10. Adjust relentlessly and be ready to raise your own bar all the times
Branding and brands might appear more or less by good luck and happy incidents which could occur when pieces of great advertising combined with the chance of hitting a fast-moving fashion trend suddenly create a short-term sales success. But long-term branding success will only occur through a planned and well-managed exercise where the corporate management team knows exactly what the complex drivers behind the brand are. They need to know how the drivers interoperate, how to achieve and leverage all elements of the brand equity, and how to evaluate the performance of the brand portfolio.
In other words, corporate managements need to know how their brand contributes to enhance shareholder value. Only then can branding become a relevant and trusted strategic discipline in the Asian boardroom along other well-recognised functions like operations, logistics, finance and human resources.