Brand investment

Top brands don`t stay top brands by accident, from momentum, or by luck. Brands thrive by working continuously – in good times and bad – to remain relevant and in touch with the changing world around them. Brands have come under pressure from a variety of directions, especially now in this challenging economic environment. Many brandsĀ  have lasted through many economic ups and downs, brands like Coca-Cola, General Electric, IBM, Toyota, and McDonalds, you see some fundamental principles of brand management that we all should take to heart.”

1. Separate brand spending from brand investment. “Companies often look at brand costs and brand investments in the same way, not a good idea,” Van Deusen said. “Everyone recognizes the need to cut costs in tough economic times but top brands recognize that the right brand investments today not only maintain the brand but allow it jump ahead of the competition when economic conditions improve. Cut the right costs, but don’t stop investing.”

2. Focus on the fundamentals. “When times are tough, consumers often see a marketplace full of too many promises, too many claims, and too much confusion,” Van Deusen said. “As a result, people turn to brands they know and trust and brands with clear, compelling, and relevant points of difference. To thrive, top brands keep their messages focused on the core equity of the brand.”

3. Keep close touch on consumer attitudes and behavior.
“The pace of change in today’s marketplace is more rapid than ever,” said Roy Levitt, a Principal at Congdon + Company. “In periods of economic uncertainty, consumer attitudes and buying habits can shift quickly and dramatically. Top brands identify consumers’ key purchase drivers early and work harder to continually refine and understand their implications.”

4. Remain nimble and responsive to change. “The characteristics that define a top brand – such as superior quality, performance reliability, product innovation, outstanding service – remain constant,” he said. “But the definitions of quality, reliability, innovation, and service are constantly evolving in consumers’ minds, in response to changes in their lives and the world around them. Top brands adapt to remain relevant rather than wait for things around them to get better.”

ImagePatrol preserves brands so they may thrive, not just survive. Today especially, that means maximizing the perceived value of a brand while minimizing expenditures and concentrating on those things that build a sustainable advantage.