What are the most important criteria for evaluating your brand portfolio?

Evaluating the brand portfolio involves assessing its market reach. I consider the breadth and depth of the market segments covered by each brand, identifying any gaps or overlaps. For instance, I can share an example where a brand extension increased market coverage by appealing to a previously untapped demographic, expanding the portfolio's reach.

Using retail audit and understanding relevant KPIs also offer valuable insights into brand portfolio performance by tracking sales volume and value, price, market share, distribution, and retailers / channel behaviour. Analyzing these KPIs provides a comprehensive view of brand performance, guiding strategic decisions, identifying growth opportunities, and optimizing brand portfolio for success in the market.

Market coverage in brand strategy is a key topic which involves: -Ensuring a presence in diverse market segments. -Identifying untapped opportunities for expansion. -Balancing market penetration with market development.

Analyze your brand portfolio coverage of evolving consumer spaces using data-driven retail audits. Track metrics like shelf presence, relative market share and sales to identify strategic white spaces while retaining equity. Scrutinize innovation ideas’ alignment with market potential and competitive advantage. This meticulous approach clarifies portfolio roles, optimizing relevance amid shifting preferences.

Leverage data to quantify your market presence and assess coverage of evolving consumer needs and demand spaces. Scrutinize online and offline shelf presence relative to competitors, identifying strategic opportunities while keeping core equity in mind. Evaluate innovation ideas, aligning with market potential and competitive advantage. For instance, a protein brand, could explore introducing a plant-based protein line to cater to the growing demand for sustainable options. This meticulous approach streamlines innovation, constructing a portfolio that not only addresses market needs but also strategically positions your brand for sustained success amid evolving consumer preferences.

Understanding the strength of each brand within the portfolio is crucial. I gauge consumer perceptions, loyalty, and brand recognition. My experience includes a scenario where a brand's equity significantly improved post a successful rebranding campaign, leading to increased market share and consumer trust.

I've found the following measure to be relevant: 1.Brand Power Score: BPS combine meaningfulness - the brand meets consumer's need & they feel emotionally connected to it; different - the brand is perceived as a pacesetter for its category, as unique; salient - the brand that comes to mind quickly in a purchase situation. 2.Brand Penetration: The percentage of households or consumers within a specific category that buys a particular brand's product within a given period. It measures the brand's ability to reach & attract consumers within a defined market. 3.Brand Market Share: The % of total sales within a specific product category attributed to a particular brand. It illustrates a brand's sales performance relative to its competitors.

Evaluating brand equity is crucial, encompassing: -Customer perceptions and loyalty. -Brand recognition and reputation. -Assessing the financial value and competitive strength of the brand.

Some ways to start building your brand equity: 1. Always focus on the why and show emotions. People tend to attach to a human more than static brands. 2. Stay responsive to all the trending topics that people follow with strong actions. 3. Build a gradual relationship with everyone around showing support and commitment.

Combine quantitative and qualitative inputs to evaluate brand equity. Leverage brand power metrics assessing meaningfulness, differentiation and mental availability. Factor in brand penetration, household reach and category market share over time. Together these encapsulate emotional bonds and sales performance - cornerstones for resilience amid competition.

Brand synergy is like having a team where each player complements the others. The synergy means that one brand's success supports the others, creating a more powerful impact in the market. Imagine a company that owns a casual clothing brand (Brand X) and a sports gear brand (Brand Y). Without Brand Synergy: - Brand X focuses on everyday wear, targeting a broad audience. - Brand Y caters exclusively to athletes and fitness enthusiasts. Here, there's a potential disconnect. The customer base for both are different. With Brand Synergy: - Brand X launches a line of activewear for casual exercisers. - Brand Y releases high-performance gear for serious athletes. Now, there's synergy. Both brands contribute to the overall fitness theme.

Evaluating how well brands complement each other is vital. I emphasize synergy between brands to leverage shared resources or cross-promotions. Sharing a story where cross-brand collaborations enhanced visibility and reinforced the brand's collective value could illustrate this criterion.

While driving 'harmony' in the portfolio, i.e., bringing current brand, line extensions and new brands together, it is important to be aware of portfolio product cannibalization which occurs when a new product within a brand portfolio eats into the sales or market share of an existing product from the same brand. Brand managers must watch for pitfalls like eroding sales of established products and the core brand, confusing consumer choices, or diluting overall brand equity; the job to be done includes making sure all new products complement rather than compete, maintain brand synergy and maximize overall portfolio growth.

Brand synergy is vital for a cohesive brand portfolio, considering: -Consistent messaging and visual identity. -Leveraging shared values across brands. -Enhancing customer experiences through seamless brand interactions.

Brand Synergy need not be at the consumer level for a portfolio to work. Synergies can also come before the product reaches the retail shelves/channel of sale (sourcing, production, distribution etc.) A perfect example of this would be Diageo! It has products from Royal Challenge to McDowell’s to VAT69 to Black & White to Johnnie Walker to Tanqueray. A consumer might not understand the products that the House of Diageo offers as there are different segments and targeting for each of these products but that does not mean that there isn’t synergy in the portfolio!

Assessing the alignment of each brand with the overall portfolio strategy is essential. I look for consistency in brand messaging, values, and positioning. An example here might be when a newly acquired brand seamlessly integrated into the portfolio due to its alignment with the overarching brand ethos, contributing to a cohesive portfolio identity.

Check alignment with vision via simple litmus tests - does the brand fit our purpose, promise and personality? Define overarching brand architecture to guide coherent portfolio identity and roles. Whether decentralized or unified approach, consistency conveys credibility and reinforces loyalty. Fit spotlights strengths, underscores gaps

Brand fit examines alignment within the portfolio, emphasizing: -Coherence with overall brand strategy. -Assessing compatibility with target audiences. -Ensuring each brand contributes positively to the overall brand image.

As a brand portfolio manager, you must pay attention and set a clear strategy for market representation. That’s where Brand Architecture comes in, it defines how your brands should fit together and share the values of the mother company. Are you looking for something like P&G with a decentralized portfolio where every brand is a stand alone brand with its own positioning and identity. Or more like Virgin where each brand takes a little bit from the mother company? It all depends on your goals and your objectives.

Brand synergy is the secret sauce for portfolio success. Assess how each brand complements and reinforces the others. Look for shared values, consistent messaging, and the ability to create a cohesive brand narrative. Synergy enhances overall brand strength, fosters cross-selling opportunities, and ensures a unified brand experience for your audience. Elevate your portfolio by cultivating meaningful connections between each brand under your umbrella. #BrandSynergy #PortfolioExcellence

At the core of everything is the consumer - "Brand is just a promise to deliver to the consumer". A strategic brand portfolio is greater than the sum of parts. Evaluating brands individually on equity then collectively on consumer, market coverage, synergy and vision fit crystallizes the current picture. This informs portfolio priorities, capital allocation and growth trajectories for relevance amid ever changing consumer landscapes.

E M O T I O N. Does your brand create an emotional connection with customers? If yes, then you can focus on market coverage, extend your brand(s) confidently, fine-tune the synergy, and create tighten alignment with your mission and vision.

Aside from these criteria, it's essential to analyze future growth potential, adaptability to market trends, and the competitive landscape. Incorporating such considerations can help further refine and optimize the brand portfolio for sustained success.

In addition to the core criteria, here are other vital considerations: -Flexibility to adapt to evolving market trends. -Monitoring competitor strategies for benchmarking. -Regularly assessing and adjusting the portfolio to meet changing consumer preferences.

None of this will work in harmony unless the brand architecture is clearly defined. How and where does each brand fit in? How do they work together? When developing brand architecture it is important to not just solve for what you have now, but how will we grow and expand in the future.