How much is a strong brand worth? Just ask any corporate executive. A strong brand can help achieve price premiums, promote customer retention, and attract
top talent to the workforce. Yet in times of economic instability there is a temptation for companies to trim costs around efforts such as brand building. Downturns, however, can actually present tremendous opportunities to grow brand strength - customer buying habits change, there is often competitive consolidation, and new markets open. A number of brands will be made in the downturn. How can your company's brand be among them?
There are many elements that impact a company's brand. Concentrating on a select few lets you control financial investment while maximizing the returned benefit. This SAP Executive Insight focuses on efforts that target a key set of brand-related opportunities. Further, by answering the following questions, it describes how companies can strengthen brand value even in a recession:
How can companies ensure delivery on their brand promises to customers in the downturn?
How can companies respond to growing sustainability concerns and protect brand value?
How can companies in this economy develop the type of workforce associated with a world-class brand?
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