Big Leap is about amassing
a large value by a wholesome program. By branding objectives Big Leap is
about creating a major increase in the brand equity out of a clearly defined
opportunity that has substantial revenue potential. A Big Leap can be
planned out of opportunities; in the product space, at the market place and
of course in the chances of establishing external associations and
From obvious opportunities
such as product extension and market expansion a Big Leap is feasible by the
power of the branding strategies built into the program structure. It calls
for a good understanding of the branding imperatives and professional
program development and execution. However, new products, new promotion
techniques and powerful value associations can cause a big jump in brand
equity with a meticulously developed program.
In a Big Leap program - a
Big Leap in brand equity - is the essential stipulation. It calls for
defining the value potential and the revenue levels and seeks justifications
on the feasibility criteria and on the strategies and plans worked out to
achieve it. A big leap program should necessarily change the competition
equations at the market place.
Brand expansion invariably
happens on twin-tiers - by revenue potential and, by actual revenues.
Revenue expansion initiatives, be it by products or by markets can be
planned as big leap programs designed with brand value aggregating
techniques so as accomplish a big surge in brand equity which would only
augment revenue growth.
Enhancing the quality of
the products enhances the revenue potential providing scope for sales to
catch up. Adding a new feature to an existing product and adding new product
altogether provide scope for the brand to grow its revenues across markets.
Segmenting markets and targeting them with sub-brands can enhance a brand's
revenue potential substantially.
Moving into new markets is
a straight forward way to expand a brand's revenue potential and every such
move into defined markets can be programmed to yield big leap in brand
equity. Selling over a new channel can also enhance the potential for the
brand and can even have positive impact on other channels - overall
enhancing the brand equity by a big measure.
Breakthrough Branding Programs
programs that can cause a big leap in brand equity can be planned to
convincingly acquire powerful value elements for the brand. Such programs
must be essentially rooted in competently researched-out insights on the
markets, competition and consumer psyche and in an unbiased inward thinking
on the management deficiencies.
programs that effectively fuse a crucial intangible value into the brand can
enhance brand equity by the potential of such value. Causing a big leap in
brand equity by such intangible values requires that the values are
appropriately ingrained in the brand across operations and are effectively
programs that connects the brand with elements and issues external to the
brand that can cause a flow of value into the brand can cause a big leap in
brand equity by the conviction and emotional connect consumers have with
such elements and issues. Values that can be acquired from such external
aspects happen to be directly proportional to the demonstrated involvement
of the brand and the extent of positive impact caused in support of them.
Over time, owing to lack
of attention towards branding or inept approach and actions a brand becomes
negative in all sense. Such brands remain the same even with expert
interventions and big spends on brand make-over efforts. Such brands need a
Brand recasting calls for
an unbiased and critical review of its real image as perceived by the
consumers. The process involves defining and realigning its value potential
in tune with the branding imperatives as developed out of a good
understanding of the market situation. The process also involves review of
the brand's identity factors.
Importantly, a brand
recast involves review of management systems, operation process and staff
competencies with the objective to re-organize them in tune with the
branding imperatives. Brand recast is relatively a long drawn process since
it involves sustained work on the brand's fundamental with the management,
staff and also with the trade channel in ingraining the brand values.
Extending a brand to a new
product category managed under a separate enterprise is an entry strategy
often adopted by established groups for the benefit of instant familiarity
and consumer connect the brand provides. However, decision on brand
extensions should be carefully weighed with the potential value of the new
enterprise as also the reverse value it can yield to the brand.
Particularly, it is important to ensure that the new enterprise does not
present any kind of risk of erosion of brand equity.
It is not necessarily just
the power of the brand that helps to make good with the new business fast.
Quite a few big brands, trying that out, have not only lost money in the new
business but have in fact hurt themselves in the bid. Chemistry of brand
character and value compatibility with the new product-set is very critical
but again not at the cost of dilution the new product may cause in the
values, in detriment to its current products.
Absolutely suitable brand
extension can cause a Big leap in the brand equity of a brand, even in the
short term, if the launch of the new business is planned and carried out in
tune with the brand character and its value elements, in a way that the
affair enhances them. In the long term, to ensure sustained value accrual
from the new business, it is important to conduct the business in compliance
and to that effect.