Business Trends: What are the forces shaping the future of your category?

Consumer trends, Market Consolidation or fragmentation, increased competition, an emerging opportunity, a category trend — anything that helps define the future of your business and focus your organization's efforts, qualifies.

 

Firm's Existing Energies or Strengths: What is your firm's existing energy? What is own-able, credible and extendable re-interpretation of your current strengths?

While there are several description of firm's existing energy that include Core competencies, Distinctive Capabilities, Large customer base, cash-flow,  reputation, or anything that serves as firm's existing strength qualifies, the list is not exhausted. Firm's most useful energy as bases for brand-customer  relationship can be anything about a firm that is:

 

·         Interesting or exciting: There is a reason to talk about the firm. Examples include Etisalat's Nigeria Idol, the Avon Walk for Breast Cancer, Pixar and the FedEx Cup.

 

·         Involving or engaging: People are engaged, and the brand can be part of a valued activity or lifestyle, as with facebook,  Blackberry,  Lego, Disney, Starbucks, Google and Amazon.

 

·         Innovative or dynamic: The brand is likely to be continually innovative or capable of creating “must have” innovations that create new subcategories, as are MTN, Apple, Virgin, Dove, GE and 3M.

 

·         Passionate or purpose-driven: There is a higher purpose that propels passion. Examples of brands with expressed purposes include Oral B strong Teeth, GSK Sensodyne, Whole Foods, Patagonia, Muji and Nike.

Consumer Insight: What do you know about consumers that can help you connect with them in a meaningful way?What is the relationship between our brand equity and the current trends in the consumer landscape?

 

Unmet needs, consumer motivations & aspirations, choices, priorities, cultural trends, emotional affinity for your brand — any consumer knowledge that you can use to bring your business to life in creating the needful for your customers or well defined chosen target markets, answers this question.

 

Brand's Equity: What is your brand known and respected for, today? Can the conceptualization of our products harmonize our strengths with insights from market intelligence to result in brand extension and innovation? 

Your brand's current equity is one of the the starting points for identifying your potential energy. 

Hanes apparel, for example,  recognized its equity in advertising tagline: “Wait ‘til we get our Hanes on you.” By updating the look and feel of the tagline, using timely celebrities and evolving the line reframed as , “Look who we’ve got our Hanes on now,” the brand was able to reach back into the consumers’ well of positive equity and update its image at the same time. What does this mean? It is a kinetizing recipe for changing consumer perception in  apparel space - updating Hanes image at the same time.