If We Do Not Change Direction, We Will End Up in the Same Place that the Crisis is Taking Us
Confronting a No-Growth Economy The main problem facing the global economy is that growth has stalled and excessive money printing has led to inflation. There is a saying which goes something like this, if you do not change direction, you are likely to end up in the same place that your life is taking you […]
Ansoff Matrix
Introduction The famous management expert, Igor Ansoff provided a roadmap for firms to grow depending on whether they are launching new products or entering new markets or a combination of these options. This roadmap has been presented in the form of a Matrix that has four quadrants with the axes of products and markets being […]
Integrated Marketing Communications – Meaning and its Components
It is essential for organizations to promote their brands well among the end-users not only to outshine competitors but also survive in the long run. Brand promotion increases awareness of products and services and eventually increases their sales, yielding high profits and revenue for the organization. To understand integrated marketing communication, let us first understand […]
Business Policy – Definition and Features; Difference between Policy and Strategy
Definition of Business Policy Business Policy defines the scope or spheres within which decisions can be taken by the subordinates in an organization. It permits the lower level management to deal with the problems and issues without consulting top level management every time for decisions. Business policies are the guidelines developed by an organization to […]
Strategies for Longer Term Transformation of Print Media and Short Term Viability
Why the Future of Print Media is good There are many experts who have been claiming that the age of newspapers is over and hence, the future of media is digital. However, if statistics are anything to go by, print media are still relevant and their bottom lines are healthy in Asian countries. However, the […]
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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