Building strong brands

A strong brand is a significant driver of corporate success, often manifested by higher market value. To develop strong brands, companies must strategically manage their brand portfolio. Four drivers must be leveraged to do this:

Define a rich, clear brand identity.
Brand identity determines how the brand aspires to be perceived by target consumers. It must therefore be rich enough to serve as a framework to guide company decisions.

Design brand architecture carefully.
Brand architecture structures the brand portfolio by defining the role of each brand and the relationships between them. In particular, it enables to allocate resources strategically, to set a framework for brand extension decisions and to identify synergies.

Build brands by combining different means of communication.
Advertising has long been the principal brand-building vehicle. However, other communication vehicles, such as sponsorship and the Internet, shouldn’t be neglected.

Change your organization to optimize synergies.
Brand strategy should be considered globally, even if the same strategy isn’t necessarily applicable in every country. The company should:
– Appoint a brand manager who has authority in the organization;
– Establish a common strategic planning process;
– Establish a system to share best practices.