Power Charging Brand Equity by the attribute 'Innovative'
By a structured program and accomplished convincingly well within 6 months.
Brand attribute 'Innovative' if proven with demonstrated work on the intent and with commensurate actions in pursuing that can power charge a brand with the attribute 'Innovative' thereby providing superior competitive advantage.
The attribute 'Innovative' is a leadership trait and if cultivated objectively would yield sustainable progressive growth in sales for brands aspiring to play dominant role in the market.
Innovation Equity can be factored into a brand only with true innovations. Though major innovations cause a major surge in the brand equity the attribute 'Innovative' for a brand can be better accomplished by the culture of innovation imbibed into operations across business functions resulting in multiple minor yet appreciable innovations. That is about doing right things but in grossly superior ways.
In advising and helping with the work on Power Charging a brand by inculcating the attribute 'Innovative' into it, I do research work the Managing Director in creating the Innovation Scratch Book and work with staff teams across departments with structured workshops.
Power Charging Brand Equity with an Innovation
Can a company swell the
positive Brand equity perceptions of its brand by a big measure - and just
by one powerful program? The answer is big NO but with a rider that says -
hard chances. Brand Equity is brought about with a set of real values that
are perceived as such by vast sets of consumers - but that can happen only
The chance of being able to cause a major surge in brand equity, swiftly, is in the feasibility of
creating the twin essentials of brand equity - 'demonstrated value' and 'huge
awareness' - and by a program. Such a program can be developed only with
innovations that can cause the kind of impact. Power charging a brand is
about doing just that - - developing Impact Innovations.
Impact innovation can be
a product or even a promotion program. To be able to power charge
brand equity the innovation must be remarkable with exceptional value
proposition so as to create massive word of mouth communication. While an
Impact Innovation can Power Charge brand equity it is important that brand's
fundamentals are without flaws and that the innovation is suitable to the
brand so as to be able to achieve a big surge in brand equity.
Impacting Brand with Innovation
Impact Innovation is
extraordinary in nature with absolutely new and appreciable value proposition.
If it is a product, it ought to be highly interesting and useful that it can
trigger large demand out of a latent want. If it is a promotion program it
ought to deliver some unique value - tangible or experiential - beyond being mere cause of
excitement. An impact innovation must create huge awareness for the brand
right out of the value it is structured with.
It isn't Impact Innovation
if it doesn't change the competition equation in the market place. And, it
is indeed tough and calls for persistent research to evolve one to be good enough to Power Charge Brand Equity. Researching
out an Impact Innovation with the objective to power charge a brand requires
good understanding of competitiveness of the brand and branding
imperatives to develop it aggressively.
Brand Impact Innovation
Brand Impact Innovation is a conceptual Brand promotion technique innovation. Being innovation centric a program developed by the logic of the technique can power charge brand equity of a brand at no or insignificant cost - - possibly at a profit.
Brand Impact Innovation refers to using an innovative product to power charge the brand equity by the innovation. By concept, it involves; a) developing a suitable product innovation, b) coupling that with the subject brand characteristically and or conceptually, and c) offering it to the target consumers at the best cost price -- duly structuring a program in effect to transfer the elements and associated virtues of the innovation to the brand.
Ideally the Impact Innovation benefit should accrue at no cost or profit. Depending upon the incidental impact on the Brand Equity the Impact Innovation benefit may accrue at a relatively insignificant cost. If the Innovation is worthy enough of a price it is possible to make a profit sustaining all the brand equity augmentation benefits derivable from the concept intact. Extent of absorption of such profit / cost can be decided dully considering the overall benefit that is expected to be derived.
Brand Impact Innovation - A Presentation
Brand Impact Innovation Opportunities