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Taf Masiye

It's just my imagination!!!

price

Branding in a recovering economy

October 16, 2012October 16, 2012 Taura Khuluma Say it!!Branding Zimbabwe, consumer expectations, customer relationship management, customer service, customers, Leadership, logo, marketing, price, product benefits, risk, Strategy, value proposition1 Comment

The issue of branding in all economies always draws interesting opinions especially bacause it costs money to develop and maintain branding in a postion that gives organisations competitiveness in their markets. The challenges in a recovering economy for brands and branding will inevitably emanate from the same issue of resources epscially money. The allocation of capital into developing and maintaining brands  pales into the background as organisations struggle to survive within a challenging environment. The inspiration for this article is investigating how organisations accomodate branding as business strategy component during difficult times.

The interesting part of this assessment is how do organisations juggle the allocation of resources in the process of sustaining the organisations so that it contunes to be functional but also maintains a presence on the market through marketing and brand management activites that garner consumer attention but more importantly sales!

Marketing as a practise is often percieved as a investment heavy function that  suffers first during spending cuts and downsizing but it is my opinion that reduction of spending in revenue generation activities is perhaps the wring strategic move to make. Alternatively I would suggest that business leaders consider re-orientating their business models into demand driven business that invest in lead generation and higher conversion of enquiries into sales. This strategy can only be driven by strong market presence and brand recognition in target markets. The marketing mix is this case becomes the driver of lead generation and enquiry conversion through configuring all elements so that they give marketers the best opportunity to present the product to the market.

Overall I feel there is too much unneccessary caution in strategic planning when it comes to responding to external pressures on sales and operations of businesses which compounds the pressure as business activity shrinks from cuts in production, workforce, marketing and innovation for brand development. There needs to be greater bullishness in finding alternatives in a process that is led by creative and innovative approaches to strengthening brands espeically long established brands that have emotional real estate in the market.

Branding represents much more that the logo of an organisations it communicates the value an organisation brings to its customers, its ethos on customer service, the quality of its products and the company’s position in the minds of its customers all encapsulated in a logo, font and colour. So look around and look at the brands you use and ask yourself if you see all those qualities in their logos, font and colour?

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