Brands are Strategic Assets
Brands are strategic assets that provide the framework for expressing unique or differentiated attributes that allow consumers to choose products and services in preference to others.
Brands as long term investments
Often, brands take many years to develop a recognised and well-understood market proposition. Some brands undoubtedly perform better than others in turbulent environments. Brand agility can often refer to a number of issues, however in this article, it is used to describe how a brand can evolve to meet the immediate environment.
Challenges and Opportunities
Turbulent environments result in both challenges and opportunities presenting themselves. It is critical that business both recognises the onset of a turbulent trading environment and prepares their operations (including their brands) to take advantage of the new business landscape.
Brands need to be agile
Brands will need to be more receptive to the nuances of the business environment. As the tough decisions of 2010 play out, pre and post election businesses will need to determine what this means for their own customers. Companies may need to develop new products and services, but their brands need to be agile in order to support these new reactive responses.
Companies can prepare their brands by understanding their customers, what they need and why they remain loyal. They not only need to understand the channels that express their brands but how they are expressed, what makes these channels effective and how can they be exploited to deliver the organisational agility that will allow them to respond to the changing economic landscape.