Competition for brand recognition is fierce. While digital-native newcomers with their tech-savvy, direct-to-consumer approaches enter with ease, the traditional retailers are struggling.
Companies fall into one of four groups:
The path to differentiation depends on whether your company is a hopeful, doer, visionary, or a differentiator.
Hopefuls and doers should put the customer at the centre of their approach in the four brand strategy components: identity, value, perception, and awareness. Then they should build...
Operational excellence doesn’t require differentiation in all six areas. Most successful companies focus on only a few of the areas.
Retailers continue to face a changing environment, such as market disruption, changing macroeconomic conditions, competition.
Consider the following tactics to stay relevant:
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