How will brands drive business strategy? How will brands keep pace with the rapid change in technology? Will the existing rules of building and leveraging brands apply in future? How differently will the brands of future be managed?
A series of brand management “next practices” and concepts co-written by Martin Roll and many top global brand management academics from leading academic institutions and senior leaders, The Future Of Branding provides insights, frameworks, methods and a road-map on how brand managers need to innovate and redefine branding in their organizations to remain competitive. “Next practices” are the emerging methods in management that are poised to impact the realm of management.
Changes in the increasingly dynamic competitive environment require a focus on what should be done, not just what is currently done. With a cross-industry application across both business-to-business and business-to-consumer market sectors, the book aims to help managers refocus on what is important to build and maintain strong brands in the future marketplace.
The Future of Branding book examines the future of branding on key concepts including brand performance management, brand strategy, brand building, revitalizing brands, brand valuation, brand analysis, brand protection, and brand experience.
The other authors of the book include well-respected marketing professors Kevin Lane Keller, Bernd Schmitt, Jean-Noel Kapferer, Srinivas Reddy and Don E. Schultz amongst several others. The book is edited by Rajendra K. Srivastava, Dean of Indian School of Business, and Greg M Thomas, Director of Marketing.
With his wealth of experience advising C-suite clients across the world including Asia and emerging markets, Martin Roll authored the chapter in the book titled “Branding in Emerging Markets”.
Emerging economies with its many countries, cultures, business practices and customer segments are much more complex than other any other region in the world. The clusters are made up of certain highly developed countries such as Japan, South Korea, Taiwan, Singapore and Hong Kong with ultra-urban and modern consumers with deep pockets. China, India, Malaysia, Thailand and others have consumers willing to experiment with new products and eager to seek out brands.
Unlike the markets in US and Europe where markets and customers have reached a certain level of understanding and sophistication, these markets still demonstrate branding infancy. The mindset, the complexity of business structures, the diversity of demographic composition and the huge geographic extant requires certain unique brand building efforts.
Brands in emerging markets meet the market with challenges that are not apparent in the developed world. For example, emerging market brands catering to the rising consumer class require packaging that can withstand greater temperature variations, and units which are designed for single use. The entire brand management spectrum needs close evaluation for managers to succeed. Some essential steps for such brands are:
The Future of Branding comprises 4 sections:
Section I – Brand Strategy: Brand strategy focuses on choosing how to compete. That means making the choices about which markets to serve, which customers to serve, which business model to deliver value, and how to sustain value profitably. “Form follow function” is a principle in architecture and design that an object or building should be based primarily on its intended purpose. Similarly, brands and their organizations are shaped by the strategy adopted by management.
Section II – Brand Building: Brand building is the activity of developing a brand at the front end of the brand life cycle. This area is operationally focused on creating the brand identify and brand experience which addresses the story of how a brand should look like, sound like, feel like, smell like, taste like, and in holistic terms how the brand interacts with customer’s emotional life over the entire consumption process. Brands are not built by companies alone because they are placed in public space so brand building is also about the dialog between the managers of the brand and the marketplace.
Section III – Leveraging Brands: Leveraging brands address how to multiply the value of the brand by extending established brands into new opportunities like new markets, new categories, or new product lines. Brands in saturated markets may seek to join growing markets or to establish new markets. Brand owners may seek to go upscale such as Toyota did with Lexus. Or brands may decide to serve the bottom of the market like Danon’s efforts in addressing needs at the bottom of the pyramid.
Section IV – Brand Performance Management: Brand Performance Management is about improving and maintaining consistent returns by value, and improving the value to the owners of the brand. Measuring the value of activities, processes, new offers, relationships, and brands by using internal metrics, marketing research, and financial value provides managers with the ability to be proactive with brand performance management.
“I was impressed and delightfully surprised with the Future of Branding. It is a senior marketing executive’s bible for rigorous thinking and analysis for growth and profitability. It provides a vital range of systematic frameworks and techniques for managing brands not covered in other books. Get it before your competition does!”
Tan Suee Chieh, Group Chief Executive, NTUC Enterprise Cooperative Limited, Singapore
“The book is a very useful tool for managers and practitioners involved in all aspects of branding. A lot of how to’s and discussions of strategies from leading thinkers in the field of branding mean that this book can be used as a ready reference. Speaking as someone whose business is centered on building a brand, I’d make it available throughout my organization.”
Richard Eu, CEO, Eu Yan Sang International Ltd, Singapore
“Srivastava and Thomas have assembled some of the best minds and their latest thinking on how to build, protect, and leverage brands to capture new opportunities and fully realize a brand’s economic potential”
George S. Day, Professor of Marketing, Wharton School of the University of Pennsylvania
“The role of brands is changing rapidly and dramatically with the rise of digital marketing and addressability, the growing power of emerging markets, and the key role of value chains in providing ecosystems of products and services. A changing role does not mean a decreasing role, but it does provide an urgent call for creative adaptation. This book brings together some of the best minds in marketing to understand the issues involved in this turbulent environment and provide ideas as to how they might be addressed. As such, I consider it to be essential reading for both academics and managers.”
John Roberts, Professor of Marketing, Joint Appointment at London Business School & Australian National University
“A nice, tight compilation of guru-inspired commentaries covering many of the foundations, facets, and fallacies of branding in a hyper-connected digital world. The Future of Branding provides a multi-disciplinary view of how to build brand value using customercentric, gratification strategies. Drawing on expert insight, this book provides a banquet of views with a more palatable and enjoyable content snacking experience.”
Donovan Neale-May, Executive Director, Chief Marketing Officer (CMO) Council
“Today’s consumers are confounded by an endless stream of product information in our always-connected, global economy resulting in choice fatigue and purchase indecision. The Future of Branding is the definitive roadmap for the students and managers of enduring brands who are attempting to navigate this competitive landscape and consumer reality. It provides turn by turn guidance to help develop strategy, measure branding effectiveness, narrow focus on profitable customers and assess the true value of a successful brand. Don’t attempt to drive your brand without it.”
Jim Anhut, SVP Design – IHG and Serial Hospitality Brand Builder
“This book comes at a time when brand owners are being challenged by technologies that are changing consumer behaviors and new business models that are disrupting traditional markets. One thing remains the same, consumers still need products to buy and ideas to buy into, but how we build branded relationships with consumers has changed forever. This book is an essential guide for marketers today.
Brand marketing is changing and Lluis Martinez-Ribes’ chapter gets straight to the point. Retailers are no longer destinations that sell branded products, they are brands in their own right. That requires new thinking and new approaches, this book signposts the way.”
Simon Hathaway, Global Chief Retail Officer, Cheil Worldwide Inc.
A valuable guide for practitioners and managers involved in brand management as well as academicians dealing with the subject as it presents most recent thoughts on ever-changing role of brand…. A must-read for all interested in the theme…the book offers valuable insights on the various dimensions on the subject that have been dealt with brilliant examples and illustrations and is a notable contribution in the sphere of modern management.
Global Business Review, Vol 17 (Issue 6), December 2016
The book is well supported by appropriate and strong researches from international settings; the book brings quite significant and emerging concerns about branding on a scholarly as well as professionally strong platform…all said and done this book is strongly recommended for all stakeholders in branding. It will update them as well as provide rich nourishment for their quests in several areas connected to branding.
Vision, Volume 20 (Issue 4), December 2016
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Read more about the co-author: Martin Roll
Read more about Branding and Emerging Markets: Strong Profitable Brands and Emerging Markets