01.10.2014 Views

Brand Relevance: Making Competitors Irrelevant - always yours

Brand Relevance: Making Competitors Irrelevant - always yours

Brand Relevance: Making Competitors Irrelevant - always yours

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

266 BRAND RELEVANCE<br />

The challenge is to continue to innovate. If the brand<br />

achieves the status of an exemplar, it is natural to create ongoing<br />

innovations attached to the brand that can become part of<br />

the defi ned dimensions of the category or subcategory. That will<br />

make the category or subcategory a moving target and make it<br />

harder for a competitor to become relevant. As the defi nition<br />

evolves driven by brand innovations, the relevance challenge<br />

will increase.<br />

Chrysler did exactly that by continuously innovating over<br />

time. Every two or three years there were signifi cant innovations<br />

that raised the bar for competing fi rms. The driver side sliding<br />

door, for example, changed the category parameters. Westin<br />

followed the Heavenly Bed with the Heavenly shower and<br />

accessories like soap and shampoo, which also raised the bar.<br />

Key Takeaways<br />

In creating a new category or subcategory, marketing strategists<br />

need to position the category or subcategory as well as the<br />

brand. It needs to be labeled or described, and its image needs<br />

to be actively managed. Business strategists often overlook this<br />

critical function.<br />

A fi rm can position a category or subcategory based on<br />

functional benefi ts driving a value proposition, such as by augmenting<br />

the offerings with features or benefi ts, a combination<br />

of benefi ts, functional design, and aesthetic design; providing<br />

systems - based offerings or customer - involving offerings; targeting<br />

segments; fostering customer intimacy; creating value, premium,<br />

or new - generation offerings; aligning the offerings with<br />

new applications or activities; and expanding the competitive<br />

space. It can also be based on a customer relationship with a<br />

category or subcategory that extends beyond functional benefi ts<br />

to such dimensions as shared interests, personality, passion, or<br />

social programs. Each provides a potential “ must have ” part of a<br />

category or subcategory ’ s defi nition.

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!