In next weeks Business901 podcast, I asked Carolina Rogoll, who has been building some of the world’s most beloved brands for over ten years, about how often you should evaluate your brand image. Employed at Procter & Gamble, the world’s largest consumer packaged goods company, she has worked across different product categories in global markets and led several complex initiatives with diverse teams. She has passion for building winning brands and a strong track record in business management and coaching. Her New Book is Star Brands: A Brand Manager’s Guide to Build, Manage & Market Brands.
An excerpt from the podcast:
Joe: So you’re really saying we’re going to find another S-curve. I mean we’re going to go through those different curves as we grow as a company and not necessarily that big R of re-branding, but maybe a little R of re-branding all the time.
Carolina: You got it. There’s actually a phrase that you’ll see me talk about in the book called ‘realignment’ and ‘turnaround.’ There are situations where your strategy might be right, buy you lost your way because certain market conditions changed. So you’re not completely off-track but you need to realign and adjust a few things. That typically happens for example when there is a change of management which is a big thing, or there’s just a change in market conditions. And then you have the other situation which is you have been on such a sharp decline that you really need to turnaround the brand and when you’re in that situation, you almost need to assume that you can revisit every component of the brand. Everything is up for grabs in a turnaround situation.
So yes, part of using this model and part of building a brand or any business is having the ability to understand where you are at each point of the time, so that you can identify what is the right growth strategy and the level of investment that you need to move the business from one stage to the next one. And ultimately for brands, it’s about surviving, and it’s all about how the brand adapts to change.
It’s almost the concept of evolution of Darwin applied to brands. It’s not the survival of the fittest; it’s more the smartest are those that adapt best to change. That’s how we should be looking at how you build a business and that’s why you should have a cadence of review of your overall strategy and revisiting the model often.
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