Page 195 - DMGT550_RETAIL_MANAGEMENT

Retail Management

Notes We are living in a new age, where customers expect you to deliver on your promise. To your
customers, your brand is the promise you make to them, and represents the trust they put in
your quality and the expectation of superior quality in all your future offerings. Whether you
keep this promise or not, consistently, determine the strength and longevity of your brand at
each touch point along the customer experience journey.
Since brand management is much more than just marketing your brand, it requires involvement
from people at all organizational levels, from your CEO to the individuals who create the
products/services and those that interact with customers to provide sales, customer service or
technical support on those products/services. This journey, from brand promise creation to
delivering the promise offers many opportunities to influence customer advocacy and create
brand loyalty.

Creating the Brand

Defining your brand is the first step in brand management. Developing brand definition requires
meticulous and in-depth study of your target customers and understanding their needs and
expectations. With accurate customer insights you succeed in creating a unique brand that
addresses specific customer needs, unfulfilled by competitors. For a brand to be effective, it
should be appealing, meaningful, memorable, and evoke strong positive emotions in customers
(fun, excitement, security, self-respect, etc.).
In this respect, it is essential that you research organizational capabilities and employee
perspectives before defining a brand. Creating a brand vision that you cannot deliver is fatal, If
you do not have the time, money or resources support the brand promise (fun, excitement,
security, self-respect, etc.), think about what you can do?

Making the Brand

This is the stage where you convey your brand to your employees, customers, and all those
individuals that are impacted by your brand. While efforts spanning the organization are essential
in the making of your brand, it is the expertise of your brand manager, that plays a major role.
An ideal brand manager should:
1. Have a great deal of customer knowledge.

2. Be bold to initiate and implement outside-the-box brand promotion strategies.
3. Ensure the brand meets customer expectations, with packaging, attributes, background,
and brand belief (is it really fun, exciting, or make them feel secure).
4. Be adept at bridging distances between company and customers and building relationships
throughout the organization.
With an expert brand manager by your side, you succeed in creating the unique positioning for
your brand in the minds of your customers and competitors as well.
Delivering Brand Promise

Equalling in significance, perhaps more, is delivering on your brand promise not just once, but
consistently over time. Failing on your brand promise deteriorates customer trust and brand
image. Keeping your promise to your customers requires the following:
1. Continuous management of organizational capabilities
2. Consistent business process and technology improvements
3. Increased employee engagement through inspiring and people-oriented leadership

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