The importance of brand identity: What’s in store for 2012?
Every year, the brand consultancy Interbrand publishes a report predicting the trends for the next year in most important market sectors: airlines, automotive, business services, consumer Packaged goods, digital, energy, fast developing markets, financial services, food & beverage, healthcare, hospitality, luxury, media, retail, technology and telecommunications.
In the report What's in store for 2012? the experts emphasise the importance of brand identity in business results.
According to the consultant Dyfed “Fred” Richards, responsible for analysing the consumer goods sector, “The game has changed. Today's consumers want brands that not only understand and meet their needs, but also validate their purchase decisions.”
Analysing the fashion sector, the consultant Bruce Dybvad says that with the arrival of the Internet, the concept of shops and the purchasing process have changed. We don't make the decision to purchase in shops anymore, instead we have probably looked for information online beforehand (websites, social networks, forums, etc.). Dybvad therefore recommends that retailers think of themselves as moveable feasts, engaging entities with values, moods and emotions, as well as commercial, social, and educational aspects.
The predictions of these Interbrand professionals can help managers make decisions and plan differently.
Interbrand was founded in 1974, when brands were seen as synonymous with logos. Interbrand has contributed to changing the concept of brand and brand management, giving brands appeal that is valuable for business results.
If this article has interested you, be sure to visit the website for the Postgraduate programme in Brand Meaning: analysis, creation and management of brand identity .