It’s tempting when your brand is trending to believe that the hard work is done. In point of fact, it may just be beginning.
Marketers talk about brands as vehicles for growth. But does that mean they should just keep growing – or is there a point when they reach critical mass?
Co-written with Pete Canalichio The entertainment sector is currently evolving the art of building out brand success in exciting ways. And there are lessons in how they are doing that for entrepreneurs and companies with a brand that people want more of.
If your brand is taken over by another company or your company takes over other brands, either as a stand-alone buy or as part of a broader merger and acquisition, what aspects of your current brand should stay as they are and what might you look to change?
If brand owners are truly intent on developing brand strategies that cut through, perhaps the best place to start is with stranger questions. Asking the less obvious might push more brands to think more laterally about their futures.
Franchising can be a very powerful way to grow your brand, but it is a way of branding a business that has very specific characteristics and challenges.
Is flexibility replacing footprint as the new black for global brands? That’s the inevitable question as Walmart announces a major redraft of its stores policy.
When Al Ries took aim at McDonald’s decision to broaden their menu, saying that introducing more items had not worked as a strategy and would not so do into the future, his piece raised questions for me on the differences between diversification and adjacency.
As marketing teams finalise plans for the year ahead, the logistics of making growth happen should be strongly influencing the targets you set. Most of us would agree there are four ways to strategise for growth: increase the share you hold in the markets you are strong in; develop new products for those markets; extend your reach by finding new markets for your current brands; and develop new products that cater to new markets.
The fracas over at Pepsico as to whether the company should continue to operate a diversified platform or free the snacks division to pursue its goals independently is a reminder of the ongoing debate over diversification vs focus.