ADVERTISING, DISTRIBUTION, & SALES
Amid constant change in change-averse markets, a brand needs sustainability—beyond the launch, beyond incremental technology improvements, beyond competitive encroachments. A good brand is unique, ownable, and deliverable. A sustainable brand is all of those but with a key difference: it is built from the ground up to influence market behaviors now and in the future—a promise with staying power in a volatile marketplace.
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Building sustainable brands is a continuous process that involves the repetition of several key steps. (click to enlarge) |
A sustainable brand does this by leveraging the equity of the product and the company together and anticipating future offerings, indications, and market directions. The ultimate goal is a brand that starts strong and lives long, ensuring rapid market penetration and maintaining long-term leadership.
Originally developed for the device industry, the same principle can apply to combination products, which, like devices, will be subject to shorter life cycles and rapid market changes.
Building sustainable brands is a continuous process that includes the following phases (see figure).
Under this model, market conditions, trends, and behaviors are continuously monitored and results evaluated, and marketing tactics adjusted accordingly. A dynamic environment calls for a dynamic approach to launching, maintaining, and refreshing the value of a product.
