Branding is a key strategic means through which direct marketers can generate growth, an expert has suggested.
Reshma Shah, assistant professor of marketing at Goizueta Business School, Emory University, pointed out that a brand is a company’s most valuable asset, yet many do not recognise its potential to achieve success.
Writing in The 60 Second Marketer, she stressed that marketers who manage their brands as actively as their product and financial portfolios will be best placed to harness this potential for growth.
Ms Shah explained that brand portfolio assessment can help to identify situations where leveraging a brand has gone too far.
“Some extensions can be potentially damaging to their parent brands because they have the potential to dilute a brand’s position in the mind of the customer,” she said.
“Further, managers often fail to make room for new brands by removing poorly performing old ones. A disorganised product and brand mix can confuse customers.”
Steven Cheliotis, director and chief executive of The Centre for Brand Analysis, recently said branding plays a crucial role in marketing success.
Posted by Julie Knight, Managing Director General Marketing, Industry News