{"id":11073,"date":"2021-10-05T16:36:54","date_gmt":"2021-10-05T14:36:54","guid":{"rendered":"https:\/\/www.bestviso.com\/?p=11073"},"modified":"2021-10-11T12:28:26","modified_gmt":"2021-10-11T10:28:26","slug":"brand-key-digital-age","status":"publish","type":"post","link":"https:\/\/www.bestviso.com\/en\/brand-key-digital-age\/","title":{"rendered":"The brand key in the digital age"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”3.22″ global_colors_info=”{}”][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.11.1″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

For brand positioning, many companies use models such as the brand key or the brand steering wheel.\u00a0Other figurative models\u00a0include\u00a0the brand pyramid, the diamond,\u00a0or the lighthouse.<\/span>\u00a0<\/span><\/p>\n

These models\u00a0usually contain elements such as functional and emotional benefits, values,\u00a0and personality, as well as differentiating\u00a0factors,\u00a0\u00a0\u201creasons\u00a0to\u00a0believe,\u201d\u00a0the brand essence, and the competitive environment. Ideally, consumer insights\u00a0will\u00a0form the\u00a0brand\u2019s\u00a0customer-centric foundation.<\/span>\u00a0<\/span><\/p>\n

But in the age of digitalization, are such models still current and relevant? Even long-established brands are now finding themselves challenged to adapt to the market\u2019s flexible demands.<\/span>\u00a0<\/span><\/p>\n

In their 2016 book<\/span>\u00a0<\/span><\/b>Agile\u00a0Markenf\u00fchrung<\/span><\/i>\u00a0(\u201cAgile Brand Leadership\u201d) (Springer Gabler), Annette Bruce and Christoph\u00a0Jeromin\u00a0describe how brands can – despite the market\u2019s fast pace maintain and develop long-term marketing positioning. Here we have compiled key points for you:<\/span>\u00a0<\/span><\/p>\n

Brand positioning in dynamic markets<\/h2>\n

Brands continue to furnish suppliers and consumers a high material and, above all, immaterial benefit, by providing customers a specific brand promise and provide orientation. In addition, brands embody a quality indicator that offers trust – thus enabling customers to identify with the brand and to signal status.<\/span>\u00a0<\/span><\/p>\n

This dynamic means that brands have an important value-creation function arising from the relationship between supplier and customer. It is not merely a matter of providing a conceptual basis for communication and advertising: brands are facing new challenges because they are caught between continuity and dynamism.<\/span>\u00a0<\/span><\/p>\n

Brands in the field of tension between continuity and dynamics<\/h2>\n

Today, numerous changes are occurring\u00a0with\u00a0customers, competitors,\u00a0and marketers.<\/span>\u00a0<\/span><\/p>\n

Multi-optional customers<\/h3>\n

On the one hand, customers are developing into multi-optional customers\u00a0by becoming\u00a0hybrid customers. As a smart shopper, for example, hybrid customers\u00a0strive for optimum value for money.\u00a0In so doing, they\u00a0exhibit different, yet\u00a0quite stable behaviors.\u00a0By\u00a0contrast, multi-optional customers\u00a0behave in an\u00a0unstable,\u00a0 varying\u00a0manner.\u00a0This dynamic manifests\u00a0itself in diverse eating styles, for example.<\/span>\u00a0<\/span><\/p>\n

In addition,\u00a0as\u00a0relinquish their communication sovereignty, they are democratizing. In the process, social media\u00a0both positively and negatively\u00a0reinforce\u00a0what\u2019s transmitted via\u00a0word-of-mouth.\u00a0Rating portals equalize\u00a0between suppliers and customers\u00a0the level of information\u00a0about products and quality.<\/span>\u00a0<\/span><\/p>\n

Furthermore, co-creation presents an opportunity to use brands to involve users and customers more directly in the product development process. Equally important, customers use brands on the internet as part of personal self-presentation.<\/span>\u00a0<\/span><\/p>\n

Differentiating from\u00a0the competition<\/h3>\n

Competition is becoming increasingly differentiated. It no longer suffices merely to examine\u00a0one industry\u2019s\u00a0offerings. Instead, it\u2019s vital\u00a0to take an overarching look at the links between customer needs and\u00a0the solutions on offer. For\u00a0example,\u00a0Karstadt, for decades Germany\u2019s favorite department store, has found itself replaced by\u00a0Amazon.<\/span>\u00a0<\/span><\/p>\n

Private labels offer a differentiated range of\u00a0\u201cvalue-for-money\u201d\u00a0brands, by combining attractive prices with\u00a0the quality and image promise\u00a0held out by\u00a0higher-priced brands. Providers such as\u00a0mytaxi\u00a0are forming disruptive business models that allow more direct contact between drivers and users.<\/span>\u00a0<\/span><\/p>\n

Beyond that,\u00a0social commerce and share economy platforms\u00a0are allowing\u00a0many users, including private ones, to sell their\u00a0own\u00a0services on the market.<\/span>\u00a0<\/span><\/p>\n

Merging of sales channels<\/h3>\n

The complex media landscape of the many new online channels\u00a0is rendering it\u00a0difficult to build a strong brand with the\u00a0aid\u00a0of one-sided mass communication.\u00a0Using\u00a0content marketing, companies\u00a0can\u00a0post useful content that enables dialogue\u00a0with customers.<\/span>\u00a0<\/span><\/p>\n

Sales channels are merging:\u00a0increasingly,\u00a0companies are offering\u00a0both off- and online\u00a0services,\u00a0while\u00a0customers are jumping back and forth between the two channels or using them in\u00a0tandem.<\/span>\u00a0<\/span><\/p>\n

Brand positioning \u2013 redefined<\/h2>\n

What\u00a0do all these developments portend\u00a0for brand positioning models? The authors formulate the risk that brand keys contain\u00a0numerous\u00a0facets and thus\u00a0risk\u00a0becoming\u00a0confusing.\u00a0\u00a0There also arises the\u00a0question of feasibility: after all,\u00a0it is not always clear how management can translate abstract\u00a0formulations\u00a0such as innovation, quality,\u00a0or service into concrete action measures.\u00a0Another issue is\u00a0how a brand model\u00a0having\u00a0a long-term focus can flexibly adapt to short-term currents.<\/span>\u00a0<\/span><\/p>\n

The\u00a0brand-market connector\u00a0as the new\u00a0brand\u00a0key?<\/h2>\n

The authors present a new, less complex\u00a0positioning model:\u00a0the\u00a0\u201cbrand-market connector,\u201d\u00a0to be\u00a0used in\u00a0<\/span>agile brand management<\/span><\/b>.\u00a0As a model, the brand-market connector\u00a0is characterized by\u00a0an attempt to strike\u00a0a balance between planning and action as well as\u00a0between\u00a0continuity and change.<\/span>\u00a0<\/span><\/p>\n

Agile brand management\u00a0<\/span><\/b>includes flexibility, adaptive planning,\u00a0and rapid coordination:<\/span>\u00a0<\/span><\/p>\n