Nude in a recession


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Leveraging brand value in a recession.

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Nude in a recession

  1. 1. A Survivors Guide To Leveraging Brand Value In a Recession
  2. 2. 1 Review your Brand Portfolio Take a look at the brand assets that you have as part of your business to determine what is really valuable and what is not; what could be phased out, what should be kept and identify how you might reinvigorate them.
  3. 3. Review your Brand Portfolio
  4. 4. 2 Manage your Message Reflect the new customer mindset. Shift your advertising message, shift funds to product lines that are suited to an economic downturn, stress quality and value, and unveil new uses for old brands.
  5. 5. Manage your Message
  6. 6. 3 Enhance Customer Insight In a downturn, companies may see research as expendable. Understanding your customers needs at this moment is even more critical. You should protect your budget and preserve the longer term projects concerning innovation and trends in the market. Your business must know where your customers are going, what they are thinking -this will allow you to come through the downturn in a better competitive position.
  7. 7. Enhance Customer Insight
  8. 8. 4 Internal Brand Supports Review ways in which the stronger brands in the portfolio (or the stronger businesses) could support the marketing efforts of the weaker brands or weaker businesses. Now is a good time to determine if every subtle brand distinction actually matters to customers
  9. 9. Internal Brand Supports
  10. 10. 5 Evaluate and Re-focus Be critical and review every unnecessary product brand, sub-brand or program brand. Sometimes business units have a habit of creating new brands for reasons other than for the benefit of customers or the bottom line.
  11. 11. Evaluate and Re-focus
  12. 12. 6 Build on Existing Equities Having identified which brands enjoy the strongest customer loyalty, companies should explore ways of further leveraging these brands. Product line extensions as well as adopting a ‘brand position’ can be especially powerful as efficient ways of unlocking brand potential.
  13. 13. Build on Existing Equities
  14. 14. 7 Don’t Compromise on Your Brand Promise There might be temptation to cut back on product quality or service quality. If you lose confidence in your brand’s promise, customers are often the first to realise and take notice of this.
  15. 15. Don’t Compromise on Your Brand Portfolio
  16. 16. 8 Don’t Discount Accrued Brand Value You’ve worked hard to establish brand value. Resist the temptation to use price to maintain volume and targets. Focus on consistency and revenue rather than volume. It will cost much more to reverse the negative impression of discounting after the event than what accrues to your business in the short term.
  17. 17. Don’t Discount Accrued Brand Value
  18. 18. 9 Keep Communicating Don’t stop communicating with your customers. In a downturn, people don’t stop buying; they just buy more thoughtfully. Take advantage of the general decrease in marketing spending to grab a larger share of voice and define yourself in a less cluttered marketplace. In good times, the best tactic may be advertising, but now is the time to evaluate less traditional ways of communicating with your customers.
  19. 19. Keep Communicating
  20. 20. 10 Define Minimum Standards of Upkeep It is important to understand what brand investment must be sustained in order to protect your asset. The amount required to retain your brand’s value is money worth spending.
  21. 21. Define Minimum Standards of Upkeep
  22. 22. 11 Moving Forward Economic downturn presents an opportunity to uncover sources of value that once identified and managed, will benefit the company when the economy recovers.
  23. 23. Moving Forward
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