About the Book
It is a surprising fact that some major companies may overlook its brand value and not care about the brand. This is one of the interesting insights put forward by author Paul Temporal, in his book on “Advanced Brand Management: Managing Brands in a Changing World.”
Over the decade ago, incoming chief operating officer of Nissan, Carlos Ghosn noted that at the time, there was no one responsible for the strategy, argues Temporal, brand management is a daunting task as strategy allows for focus and direction of the brand.
“The truth is the most brilliant strategies come from deep consumer insight, researching and developing products they think the market will want,” he asserts.
Perhaps part of developing a sound brand strategy intuition while the rest is hard work, studying the market, competitors and most importantly, the different groups of consumers. This is where some companies may gloss over the finer points and end up not truly connecting with what the consumer really wants.
One of the companies that has stood the test of time and even transformed itself into a powerhouse of emotion is Hallmark. Many of us have grown up with the greeting cards that are now synonymous with the brand.
The company, now known as Hallmark Entertainment is a good example of a company that has broadened its horizons from merely heartfelt greeting cards. It is now also well known for their movie channel, home videos and the retailing of products such as Crayola Crayons, Silly Putty and party plates. So essentially they have built their brand around emotion and this has set it apart from other businesses.
This approach has paid of well and it earn brand loyalty based on its philosophy, although in Malaysia some of its greeting cards and soft toys are prohibitively expensive.
Another interesting topic is on the emotional brand relationship process and how ultimately one builds brand loyalty starting from awareness, information, respect and trust.
Positioning and brand management is a helpful chapter while the subsequent chapters look at new terms to most of us such as brand revitalization and brand deletion. The first dilemma of challenge is whether it is worthwhile to stretch of expand a brand into other areas within or outside its brand strategy.
To this, Temporal suggests that some traditional brands need to grow to the next level such as the well-known After Eight Mints which has moved into After Eight Orange, After Eight Straws to name a few. This was a necessary move to remain current and not lose out to competitors.
Total communications for the Brand Management is another well-thought out chapter and it examines the age-old features of brand communications. How do brands communicate with customers? Today, it is high-tech driven, with innovations made possible due to the Internet.
Temporal concludes by stressing that emotion is the secret to gaining customer acceptance, and he contends that being too practical or rational doesn't seem to fit the bill.
“The great brands of the world will be those that can demonstrate both market power and worldly compassion,” he concludes, thus throwing the gauntlet down to young and upcoming companies and well established brands as they march on in the years or decades ahead.