Transcript
For any portfolio strategy to succeed, it’s important to be brutally honest about the role your brands fulfill with consumers today and how they are perceived. There is often a mismatch between what businesses believe about their brands and how consumers actually see them. Any business needs to be willing to challenge internal narratives so that the solutions you create will work in the market. Questions we ask are, what is the received wisdom about how consumers interact with a brand within your portfolio? Has this been validated with consumers themselves? And if so, how recently? No brand has a divine right to exist. But there’s a natural inclination in marketing to believe that our brands are more important than they really are. The more honestly you assess your brands, the more accurately and confidently you can plan their roles and set them up to maximize their potential.
