From Long Term vision to short term goals, how to build a successful brand step by step.
Tags:Setting Brand Objectives,brand management,Brand Objectives,how to build a successful brand,branding
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Welcome ladies and gentlemen! In our journey in strategic brand management, we are looking at the model from brand vision to brand evaluation. We’ve been looking at the domain of visioning, been looking at the domain of organization culture. Now, what I want to do is I want to look at some of the issues that organizations faces and then start to set brand objectives.
And ladies and gentlemen here, because there is a big overarching view about making the environment that the brand operates in a better environment, from that, the organization then needs to start thinking terms of numbers. Now, it may sound difficult but it is not as difficult as it may appear to be. So, if I am thinking about an organization that has to be nameless and this organization has an intent, an intent of becoming a true global player in terms of grocery retailing. This organization from its vision, its vision of really and then showing the world becomes a healthier place. That vision then becomes translated in terms of a long term goal.
And the long term goal may relate to this organization not just getting recognition but this organization from a reputation perspective and then gaining respect for its brand—we have TV channels to the crossing frontiers, the internet, social media. And the organization now is starting to put, take that vision, and now translate that vision in terms of a big overarching objective. And against those two points there would be numbers. Now, that may then sound horrible. The management team is going to that with our brand. Well, why is it a problem? It’s a problem because it is too big, so what you then have to do is you then go to take those big objectives. And then you are going to start to say, “So, what smaller objectives will contribute to achieving these much bigger goals that we are trying to bring about?”
So, the short term goals, now what I am talking to maybe three years. Now, what I am starting to do is I am now starting to look in terms of numbers of outlets that I am going to have by geographical area. Now, I am starting to look at the overall structure of my sales portfolio. To what extent is it cool grocery elements and to what extent is it the delicatessens, the specialty elements that then make it really interesting to want to come in to this particular chain.
This organization, it could also then start to look in terms of these of big objectives. Disrespect comes about because what it is doing is it’s innovating in the categories. It’s then going to have to identify categories where this has been a very stable approach to the category. And it is now starting to think in terms of then transforming those categories that have been dull and stayed by thinking in terms of which manufacturers which organizations does it then want to start to work with? In other words, does it want to keep on emulating and copying through an owned label, a retail label approach or is this organization genuity now can start to think in terms of we are now going to lead. We’re now going to lead, we’re now going to start to identify certain manufacturers.
Now, can you see what is going on? Initially you’ve run a mile or you’ve run a kilometer at the problem. Now, here’s your stretching objective, it is going to bring about this vision of a healthier environment. You bring in about by breaking these big things into smaller and smaller things. So, people can then start to say, “Yeah, I’ve now got it.” I can see what I am doing. So, when we’re setting objectives, don’t be put off, don’t be daunted by—you are going to think these long terms horizons. I am deliberately saying long term horizons because if you start thinking short term, you are being to incremental growth. We are looking for step changes. And again, think about it. If I am talking so fast moving consumer goods, you know I want a horizon of at least five years. But if I am talking hi-tech, maybe I am talking a horizon of two years because we expect that technology just to keep on leapfrogging. So, I can't again be dogmatic and say to you. When I say long, I mean this number of years. You’ve got to understand the area that you are operating within but when we are doing it again, it’s sort of inspired by some of the ways that organizations have done it.
Let’s examine an organization that is in the yogurt market. And the stretching goal in terms of level of sale is just daunting. Doing things the way I am doing things are never going to get there. I don’t know how I am going to do it. Well, so at this stage again, you appeal to literature. What if other people dumb? And this area, I came across a writer lady called Wendy Gordon. And Wendy Gordon talks about a concept called Need State, and it’s great because if I am yogurt organization and I am trying to grow my yogurt sales through this horrible stretching objective that being said, Need States then give me an idea. Wendy Gordon says when people buy brand, what they’re doing really is they are reflecting a need they have.
And therefore, the brands got to come in and do something for me regarding that particular Need State that I am in.