Brand Strategy Myth 1-We don't need to worry about brand management, brand strategy or branding
The truth is that every organization will face stronger competition, not lesser as the new economy sets in. No longer is the competition limited to only the product or service you sell. The fact is, every time one of your customers sends a package across the country overnight or visits a restaurant, the compare service, price, product to the others they are using.
If you are in denial about facing up to the competition from AT&T, Dell, Apple, McDonald's, come to the realization that consumers compare all products they use, not just the ones in a particular category.
Secondarily, as the dollars in the new economy are more constricted, consumers will become more selective over where they choose to spend their money. The new economy has not changed the fact that consumers primarily choose strong well-managed brands.
As the new economy sets in, we have seen an increase in surveys and focus groups which indicate that players are interested in seeing the indicators concerning the health of their brands.
Comments