Must Read — Interbrand Top 100 Brands Report

2010 – A PIVOTAL MOMENT FOR BRANDS – THIS YEAR SEES THE BEGINNING OF A NEW PARADIGM IN BRAND MANAGEMENT
Below is a preamble to the report from Jez Frampton, Global Chief Executive, Interbrand

As 2008 rolled into 2009, we saw spending habits begin to change. Now, in 2010, we are seeing the starts and stops of a recovery coupled with profound changes in the relationships between brands and their customers.

We are becoming used to a new normal – one where brands are constantly stress-tested for relevance and value. The same customer might opt to buy an iPad instead of a laptop, purchase private label toothpaste and then match a Zara skirt with Christian Louboutin shoes. They will expect to buy online, return in-store and receive the most up-to-date offers and promotions instantly. With alternatives only a click away, their patience is ever-shortening making them not only more difficult to predict, but more confident every day. Indeed, even what appears to be the most minor instance of customer discontent in one part of a brand experience can quickly lead to a major customer revolt due to consumers’ ability to spread the word about brands quickly and effectively online.

It is clear from our recent conversations with Chief Marketing Officers around the world (available to read at http://www.bestglobalbrands.com), that brands are making an eff ort to adapt to this real-time brand management approach, using social media channels to forge deeper relationships with consumers. Managing this constant connection demands a radical shift in internal behavior, and it is fair to say that many traditional organizations are still struggling with this change. We can already see that the next big challenge will be to genuinely empower and engage people on the inside. Just as corporate greenwashing is no longer tolerated, the notion of “brandwashing” your way through customer relationships won’t be a lasting tactic. Like the smart marketers that have sensed changing attitudes toward corporate citizenship and have responded by putting it (in its widest sense) at the center of their business strategy, the best marketers are already focused on making meaningful employee engagement a priority for their brand and business strategies.

Despite all this change, however, it is clear that the role of brands in consumers’ lives and the foundations of strong brands remain consistent. Brands, in their ability to create choice, build trust and loyalty and drive a premium price, are as important today as ever before. They play an unwavering role in our lives, even as spending changes, technology advances and preferences evolve. The rules for building and managing great brands may be shifting, but as you’ll learn in the pages in this report, the long-term sustainable advantage gained by building a strong brand remains the same.

1. COMMITMENT
A measure of an organization is internal commitment to or belief in its brand. Commitment is the extent to which the brand receives support in terms of time, influence and investment.

2. PROTECTION
This component examines how secure a brand is across a number of dimensions from legal protection and proprietary ingredients to design, scale or geographic spread.

3. CLARITY
The brand’s values, positioning and proposition must be clearly articulated and shared across the organization, along with a clear view of its target audiences, customer insights and drivers. It is vital that those within the organization know and understand all of these elements, because everything that follows hinges on them.

4. RESPONSIVENESS
This component looks at a brand’s ability to adapt to market changes, challenges and opportunities. The brand should have a desire and ability to constantly evolve and renew itself.

5. AUTHENTICITY
This component is about how soundly a brand is based on an internal capability. Authenticity asks if a brand has a defined heritage and a well-grounded value set, as well as if it can deliver against customers’ expectations.

6. RELEVANCE
This component estimates how well a brand fits with customer needs, desires and decision criteria across all appropriate demographics and geographies.

7. UNDERSTANDING
Not only must customers recognize the brand, but there must also be an in-depth understanding of its distinctive qualities and characteristics, as well as those of the brand owner.

8. CONSISTENCY
This measures the degree to which a brand is experienced without fail across all touchpoints and formats.

9. PRESENCE
This measures the degree to which a brand feels omnipresent and how positively consumers, customers and opinion formers discuss it in both traditional and social media.

10. DIFFERENTIATION
This is the degree to which customers perceive the brand to have a positioning that is distinct from the competition.

Here is the link to the full report: https://stevefrenda.files.wordpress.com/2010/09/best_global_brands_2010_us.pdf

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~ by sjfrenda on September 18, 2010.

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