The growth of any brand will plateau if it is successful with its initial product range in its region of origin. Further growth must come from expanding the product range, extending geographically, or both. Before scaling your brand, the business fundamentals need to be in place. Investors seem keen to fund technology-based brands even if they have never made a profit, but this isn’t wise. According to Cyrine Ben-Hafaïedh and Anaïs Hamelin (2022), profit-focused brands...
In some categories, a major component of the brand experience comes from human interaction, such as at premium hotels, restaurants and retailers, to name a few. Brands in these categories need their client-facing employees to be emotionally intelligent, attuned to customers’ needs, knowledgeable about the brand’s offer and motivated to look after customers. Having committed employees kick-starts a chain of benefits.
In some companies, brand-building is the sole responsibility of the marketing team. The brand is seen as a consequence of advertising. However, this mode of thinking gets in the way. Every experience someone has in relation to a brand influences how they think or feel about it. The mind doesn’t discriminate between experiences curated by the marketing team and all other brand encounters. Customer experiences, for example, can be especially influential. They should all be...
When companies are formed, the founders often have a clear reason for starting the business. This often defines what the brand stands for and shapes all the decision-making.
Corporate growth often depends on a company building or buying multiple brands. These may exist within one or several product categories. Such a strategy can provide economies of scale. It also reduces risk. If one brand is struggling to grow, profits can be diverted to brands or categories with greater growth potential.
