The temptation for most businesses and indeed most brand managers is to look for growth right across their brand portfolio. Their strategy is developed on that basis. But that’s far harder and far less effective than it sounds.
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?
Smart brand managers actively manage their brand portfolios for maximum collective and individual brand return. If you’ve recently re-assessed your brand portfolio and identified what appear to be one or a number of under-performers, there are a range of options you can pursue to fix that situation.
The rules for developing and managing brands are laid out in a range of principles and frameworks developed by extraordinary marketing minds. Time and time again, we’re told brands follow these rules to achieve success. But every so often, you encounter a highly successful brand that seems to defy the theory. And there are lessons for all of us in that success as well.