Failure of a Brand Plan. Causes and Remedies

?Failure of a Brand Plan. Causes and Remedies

The Brand Plan Never Fails. Its Orchestration into Tactical Plan Dilapidates

By,

Mehboob Ahmad

Sr. Regional Manager Martin Dow Marker.

Ph.D. MGT (Marketing), MS-Marketing, MBA-Marketing, B. Sc. (Zoology)., AKU-MERCK-ABMTC, OSHA-Certified

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New Brands are lifelines for any organization because of their reasonable contribution margins. Mysteriously, Pakistan is amongst the countries with high startup failure ratios i.e. around 4% of new brands have ceased trading by the end of the first year of their launch. But the failure rate rises significantly to more than a third (34%) by the end of the second and to half (50%) within just three years of opening. In this article, we will review the contemporary literature about the reasons behind the brand failures and will conclude up with pragmatic remedies to come out of this bleak situation.

?? Each brand is a contributor to organizational performance and the brand plan is a crucial element in the success of any brand, serving as a roadmap for brand development, marketing, and overall growth. However, even with careful planning, brand strategies can sometimes fall short of expectations.

?? While taking a snapshot of the causes of Brand Plan Failures it is evident that one of the primary reasons for brand plan failures is insufficient market research. Without a deep understanding of the target audience, competitors, and market trends, the brand plan may lack the necessary insights to make informed decisions.

?? Lack of Alignment with Business Objectives remains among the major causes of brand plan failure. When a brand plan is not aligned with the broader business objectives, it can lead to confusion and a lack of direction. If marketing efforts are not directly contributing to the overall business goals, the brand plan is likely to falter.

?? Poor communication within the organization can hinder the successful implementation of a brand plan. Miscommunication can result in inconsistent messaging, confusing the target audience and diluting the brand's identity.

?? Markets are dynamic, and failure to adapt to changes in consumer behaviour, technology, or industry trends can lead to brand plan failures. Brands that resist change risk becoming outdated

?? Insufficient funding for marketing initiatives can hinder the execution of the brand plan. Without the necessary resources, it becomes challenging to implement effective strategies and reach the target audience.

?? Regularly evaluate the effectiveness of the brand plan through key performance indicators (KPIs). Be prepared to make adjustments based on the evolving market landscape and performance metrics.

?? Fostering collaboration between different departments within the organization, ensuring that the brand plan is understood and supported by all teams. Cross-functional input can lead to more comprehensive strategies.

Prioritizing a customer-centric approach in the brand plan. Focus on delivering value to the target audience and addressing their needs, building a strong emotional connection between the brand and its customers.

?? While talking about the remedial actions to escalate the brands to the stars of the industry, The contemporary literature suggests the following remedial actions.

??? Conducting comprehensive market research to identify consumer needs, preferences, and emerging trends. Regularly update this information to stay ahead of market changes and make data-driven decisions.

?? Ensuring that the brand plan is closely aligned with the company's overall mission, vision, and strategic objectives. Regularly revisit and adjust the brand plan to stay in sync with changes in the business landscape.

? ?Establishing a clear communication channel within the organization ensures that everyone understands the brand strategy. Develop brand guidelines and regularly train employees to maintain a consistent and coherent brand message. and losing relevance.

?? Foster a culture of adaptability within the organization. Regularly assess market dynamics and be prepared to adjust the brand plan in response to emerging opportunities or challenges.

?? ?Conducting a thorough budget analysis and allocate resources based on the most impactful marketing channels. Prioritize initiatives that align with the brand's strategic goals and have a measurable impact on key performance indicators.

?? The most important step in the success of a brand plan is understanding of brand plan by the field staff. Provide ongoing training for employees to enhance their understanding of the brand and its values. This ensures that everyone within the organization is a brand ambassador, consistently reinforcing the brand's message.

In a nutshell, brand plan failures can be attributed to a range of factors, but the failure to its transformation due to lack of adaptability remains the major one. In most instances it happens because of the inability of first- and second-line managers to understand the plan because of their incompetence, academic background, mala fide inattentions and the status quo.

?? Improving the understanding of the field force needs clear and continuous communication by the brand management. If needed, arrange institutional training for the managers who have issues understanding the strategies because such managers just exert pressure to bring in the sales eventually leading to inflated sales and failure of brand plan.?

?? Implementing strategic solutions that emphasize continuous evaluation, cross-functional collaboration, employee training, a customer-centric approach, and agile marketing practices can help overcome these challenges. By addressing the root causes and proactively adjusting strategies, businesses can position their brands for long-term success in a dynamic and competitive marketplace.

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