Given unprecedented uncertainty post-Lockdown, we believe that well-managed brands and routes-to-consumer represent a potential source of certainty and stability for shell-shocked consumers and customers.
We hope that this NamNews reminder of the basic NAM tool-box contents will help.
Business model review: What post-lockdown business are we really in, is it still fit-for-purpose? What are our key brand strengths in terms of need satisfaction?
The super-savvy consumer: Acknowledge their enhanced real needs of our product and for demonstrable value for money – see here
Retail customers still standing: Check NamNews, especially for their financials. Beware Prices & Terms disparities arising from amalgamations and takeovers.
Competitors still standing: Check NamNews, especially for their financials. Amalgamations and takeovers may cause them to focus more effectively on optimising iconic brands.
Relative competitive appeal: How well does our offering compare with alternatives available to the consumer in a radically changed market? Including the version of your own brand in DTC and online – see Buying Mix Analysis
Four Ps marketing mix: What combination of Product, Price, Presentation and Place is capable of meeting those needs, even slightly better than the competition? Working synergistically with the retailer’s retail marketing mix – see here
Sources of business: There are only four ways of growing a business:
Risk/Opportunity Analysis: Being constantly aware of the degree of risk in terms of impact on the business and likely of occurrence has to be a reflex for NAMs – see here
NB. The basics of business have not changed; the world in which business has to operate has changed, changed utterly and more than we can imagine, especially with regard to our competition, including the new competition of our brand in DTC and online…
Essentially the solution has to be going back to basics, acknowledging that your competitors that have survived are in better shape and no longer searching for familiar old patterns that have gone forever. They are uncertain. Your brand can help in providing stability in their lives, providing you deliver more than it says on the tin, every time…
