24 September 2020 00:31

MARKETING

4 Critical Considerations For Merging Brands

There are many considerations that should be very much top of mind for all brands that are merging or acquiring companies. A successful fusion will be determined by how well brands think through and act on these four areas:

1. When integrating new brands into your company:

Benchmark everything around your purpose

Identify the new value that each brand brings to your brand portfolio, and to the achievement of the purpose

Look for brands with a strong cultural fit as well as competitive edge

2. To help new arrivals feel welcome:

Explain to your current team what the new people add to current strengths

Incorporate the best of new values and behaviors to refresh your cultural frameworkCombine the knowledge and experience of the various brand teams

(current and new) to break down silos and get the best combination of diverse thinking

3. To decide which brands stay and which go:

Discard, sell or merge redundant brands

Identify the brands that contribute the most to your purpose (make these the core of your portfolio)

Where you have two strong brands in one category, assign different parts of the market to each brand and reposition accordingly

4. Have a strong go-to-market communications strategy for your revised portfolio Explain:

Why you have come together

The key issues that you are committed to addressing

Why you are now more capable of doing so

Which consumer challenges you will be focusing on as a result (and which brands you will be using to do that)

Which brands you will be dropping

How those transitions will work for buyers.

 

Source:Branding Strategy Inside

Read 1063 times Last modified on Tuesday, 17 May 2016 04:56
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