Managing brands to optimize their return is a complex task in today’s fast moving environment. It starts with the process of bringing those products to market in an efficient and cost effective way and continues throughout the lifecycle. From Phase II onwards huge amounts of money - estimated at between US$800 million to US$1bn - are spent and a wide range of tasks performed by various stakeholders within the organization, all of which must be smoothly aligned to ensure a successful launch. Once in the market, with competition fierce, time constricted, and fast and high returns demanded, continual management of the brand is essential.
Although there are significant differences between managing the launch and managing the in-line lifecycle – strategic direction in the former versus implementation in the latter, maximizing growth in the former versus maximizing profits in the latter – the situations are not dissimilar in terms of activities performed. Building brand value is a recurring process: assessing the market place and understanding the competitive landscape to determine size and brand potential; shaping the brand to ensure differentiation from the competition; defining and implementing a promotional strategy that will support this differentiation with key stakeholders.
