الجمعة، سبتمبر 24، 2021

Good ways to drive the growth of the brands

Good ways to drive the growth of the brands




Even in times of consumer reluctance, companies are looking for ways to drive the growth of their brands. The brand growth barrier model can help identify a brand's "construction sites" and adjust the strategy accordingly.

Against this background, income expectations are rising slightly in most countries. However, this glimmer of hope is currently not being reflected in the propensity to buy. These keep their money together and postpone larger purchases until later. Naturally, this applies above all to countries with high unemployment.

Consumer restraint is giving companies in many countries the task of questioning their previous strategies and goals of brand management. If brands are to generate growth even in times of saving consumers, it is first of all important to clearly define the goals that brand management focuses on and whether these goals are adapted to the current situation.

For example, the goal of sharpening brand positioning requires different measures than, for example, the goal of opening up new target groups. Since companies generally do not have unlimited time, manpower and budget, it is important to define goals and desired effects very precisely and to identify their own "construction sites" in brand management. The model of brand growth barriers (MWB model) helps here. In the classic model, according to the authors, there are a total of seven barriers:

Awareness

barrier Part of the target group has not heard of the brand or has not seen anything.

Brand Clarity Barrier

A part of the target group has already heard of the brand or seen something, but cannot say exactly what the brand stands for.

Relevance barrier

A part of the target group has an idea of ​​what the brand stands for, but does not consider it personally.

First choice barrier

Part of the target group is considering the brand among others, but
it is not the first choice.

Buying barrier

A part of the target group buys a competitive brand, although their own brand was also an option, maybe even the first choice.

Repurchase barrier

Part of the target group does not buy the brand a second time, but chooses a competitor.

Recommendation barrier

Some of the target group have repeatedly bought a brand, but are not actively recommending it.

Companies must first identify these barriers and then break them down with appropriate marketing and sales measures to generate more growth for the brand.

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