And brand architecture determines
Posted: Mon Jan 06, 2025 9:06 am
Companies use different brand combinations to attract different market segments, which brand elements can be used for new and existing products and services. Combining brand portfolio and brand architecture with factors such as consumers, company, and competition can help you develop the best brand strategy . There are many market segments in a product category . Since different target markets of a company have different preferences for a certain brand, it is necessary for the company to adopt a multi-brand approach to achieve market coverage. You can .
Use the brand - product matrix tool to analyze the company's entire brand portfolio. The brand - product matrix shows in graphical form all the products and brands sold by a company. Matrix rows: represent the number data products sold by the company, reflecting the brand extension strategy. Note: Whether a brand extension is feasible depends on whether the new brand can effectively enhance the existing brand assets. Matrix columns: represent the number of brands under each product, reflecting the brand portfolio strategy. Note: Companies design and market different brands to attract customers from different market segments.
Brands can play very specific roles in a portfolio . For example, flanker brands are used to protect other more valuable brands; low-end brands can attract consumers; high-end brands help to enhance the value of the entire brand line; and cash cow brands can cultivate all potential achievable profits. The company must deeply understand what each brand does for the company. More importantly, what it hopes to do for consumers . Many companies have complex brand strategies because they have multiple brands. For example, one brand may contain multiple brand elements that are also used in other brands.
Use the brand - product matrix tool to analyze the company's entire brand portfolio. The brand - product matrix shows in graphical form all the products and brands sold by a company. Matrix rows: represent the number data products sold by the company, reflecting the brand extension strategy. Note: Whether a brand extension is feasible depends on whether the new brand can effectively enhance the existing brand assets. Matrix columns: represent the number of brands under each product, reflecting the brand portfolio strategy. Note: Companies design and market different brands to attract customers from different market segments.
Brands can play very specific roles in a portfolio . For example, flanker brands are used to protect other more valuable brands; low-end brands can attract consumers; high-end brands help to enhance the value of the entire brand line; and cash cow brands can cultivate all potential achievable profits. The company must deeply understand what each brand does for the company. More importantly, what it hopes to do for consumers . Many companies have complex brand strategies because they have multiple brands. For example, one brand may contain multiple brand elements that are also used in other brands.