Efficient Consumer Response Initiatives in 1990s
When one refers to International Retail business, the comparison is mainly referring to the European and US markets. ECR or Efficient Consumer Response initiatives in the 1990s changed the face of the International Retailing business in Europe as well as US. The studies covering the entire supply chain from suppliers to the end consumer were […]
How Do Flash Sales Work?
Flash sales have become extremely popular these days. There are several websites which are dedicated to providing flash sale opportunities to their customers. Rue La La would be a great example of such a website. It exclusively sells products on flash sales and has a turnover of over $100 million. On the other hand, there […]
What is Influencer Marketing and Why it is so Important for Marketers in the Digital Age
As Social Media Grows in Importance, Marketers are Turning to Influencer Marketing We live in times when social media is all pervasive and all important not only for individuals, but also for business entities. Indeed, no business can afford not to have a presence on social media which translates into mandatorily having a Facebook and […]
Facebook as a Digital Marketing Tool
Introduction Digital Marketing entails marketing of goods and services using digital technologies and digital mediums. In this context, it would be pertinent to note that with the advent of Web 2.0 or social media, marketers now have the chance to utilize the opportunities offered by digital marketing using social media like Facebook. This article explores […]
Managing Brands Over Time
The markets in which companies operate are highly dynamic in nature. There is constant evolution in products, introduction of new technology, government rules, regulatory framework, consumer taste and preference. Between all this, companies have to devise marketing communication and branding programs, which look forward to maintaining consumer based brand equity. For example, consumer promotion activity […]
As the business environment is changing, the profile of the organizations as well as the way of conducting business is changing too. Use of technology and globalization has changed everything about business. Marketing is no longer what it used to be.
Online marketing has changed the face of conventional marketing and both are incomparable by any standards.
When we look at the job profile of brand managers, we find that over the past few years, there have been several changes.
Today’s brand managers are not only planning product promotion and marketing services, but work as business managers responsible for the brand. They are in fact responsible for the sales, growth as well as the profits of the brand in Multinational companies.
A strong brand may have a team of brand managers working on the brand across several geographic locations and countries. With the global brands being present in various markets, there arises the need for local factors and sensibilities to be built into the brand and into the brand management as well. Therefore it makes it imperative to build a brand management team or structure that can work through micro and macro levels.
Take a look at the shelf in the super market when you visit next time and you will be surprised to see that each of the leading brands be it in the medical section, soft drink or grocery item, there are likely to be multiple variations of the same brand with little difference. Of course we are talking about the brand extensions that have become the latest strategy adopted by brand managers to exploit the brand value.
Coke is perhaps the best and the most common example where you get to see variations of coke in the shelf today. Brand extensions have become the norm of the day. The question that one needs to ask is whether such brand extensions are really required and worthwhile?.
In the market place, where competition is very high and intense amongst brands, the brand managers are always under pressure on multiple fronts.
Brand extensions are also considered to be the most natural progression for brands. When organizations spent a lot of investments into manufacturing and technology for launching the parent brand, they would not like to leave out any opportunity to capitalize on the capacity that they have created and maximize returns on investment.
The next logical question that one asks is whether such brand extensions are useful and beneficial for the brand. What is the effect of brand extensions on the parent brand?. It is difficult to predict what the exact result would be for, the results in the case of such brand extensions have been mixed in the market.
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