When do we need branding?
We want to launch a new product on the market.
In a similar manner, any new product needs a name, something visual, like a person’s face, to make it easier to recognize and remember, and a story about it which plays the same role. We are, in fact, talking about the visual identity of the new product: its name, logo, slogan, packaging, positioning, and its mission, vision, and values. All of those are needed because we as people are very visual. INOVEO has developed stories both for small brands and big brands.
While an already existing product has greater potential, a few years after being launched, some products may continue growing but not at the level we would desire.
Oftentimes what happens is that we launch a product the way we believed was better at the time. We have a quality product, and often much better than competing products. We launch it with minimal resources with help received from friends and family to come up with the name, logo, and website. The product is well received, but after a few years, we feel that something is not going quite like we had initially wanted. It’s like when you feel bad, but you don’t know what ails you. You then go to a doctor, and they start with your anamnesis. The doctor consults with you and asks all sorts of questions about your family history – about your childhood, your parents and grandparents, and then gives you a prescription for medication. Similar to that, any brand-related problems can have multiple causes. Maybe because a new competitor has entered the market and taken some of your clients away. Or perhaps you have some large clients with substantial advertising budgets who need branding services. Maybe you didn’t position your company well enough when you launched it, or perhaps you didn’t even launch it at all. Another cause might be the lack of correlation between pricing and product, or insufficient market penetration. When we’re talking about a mass-market product, the problems may be related to unattractive packaging or a lack of sufficient information for consumers. Maybe it’s about a wide range of products which were launched individually over a period of time brought on by the desire to respond to the needs of distributors or buyers, but which over time, have generated a degree of inefficiency. Or it might be two or more of these factors combined, or even situations very different from any of the above. For each of these, we are able to recommend a personalized prescription adapted to the particulars of each situation. INOVEO has worked on such projects on behalf of both small and big brands. Most of the time, these situations can be successfully dealt with using rebranding or brand management
Acquisition or merging of companies
When two or more companies merge we have a situation that closely resembles a marriage. One of them will take on the name of the other, or they might continue using their previous names respectively, or they might choose a new name altogether. It very much depends on the context and situation. When Piraeus Bank was acquired by the J. C. Flowers investment group, the bank went through an extensive rebranding process. The newly-formed entity received a new name, FIRST BANK. And it also received a new visual identity which included a new logo, brand manifestation, a new look for its agencies, branches, and ATMs, and a new voice and new brand for both domestic and international audiences.
When two companies merge, creating a pleasant atmosphere and fostering good internal communication with employees is a must.
When OMV Group and Petrom merged, the management decided to move all of the employees into one single building. To facilitate the transition from the previous headquarters to their new location, INOVEO was hired to identify various elements of interior design which signaled the values of the new organization and simultaneously made the transition into the new building easier. Employees are one of the most important factors in developing any business. If they feel good and enjoy working, then all of the business parameters will rise much easier.
A brand needs to be well known in order to perform well
If you have a musical genius at home who plays the piano perfectly in class or at home, he’ll remain a genius for a limited circle of acquaintances and friends. However, if he has a concert at the Romanian Atheneum in Bucharest or Musikverein Concert Hall in Vienna, then it will be a totally different story. Many Romanian companies launch in the market and after a few years feel their performance has stagnated. Many of them battle fierce competitors who invest massively in advertising. Others battle brands which are globally recognized. It doesn’t mean their brand cannot find its own place in the market, but the important thing is to get out in the open and tell your story in order to heard by as many people as possible. Launching your communication means taking a step forward bringing you closer to your customer. When I say “good afternoon,” to someone, more often than not, I’ll get a response. But if I stay silent, I’ll pass by others unnoticed. The same happens with brands. The ones which attempt to communicate with their audience have more chances of succeeding. However, communicating here doesn’t mean something done sporadically or in an opportunistic manner. It needs careful analysis and sending the right message to the desired audience. And the media channel plays an important role as well because it has to be chosen carefully, taking into account the stage in the lifecycle of the brand and the company’s financial resources.
When brands are imported
The company importing the goods is often faced with a dilemma: “Should I invest in a brand I don’t own? What if I lose my right of exclusivity in the market? Will my investment be in vain?” One solution would be to build your own brand, that which belongs to you, and enjoy all the rights that go with it. Such a brand can grow rapidly by transferring brand capital from the imported brand managed by your company to your own brand that you are getting ready to launch. One such case study is Final Distribution, a company from the construction industry which imports the roof brand Gerard, the coverings brand Delta, and the attic windows brand Keylite, and which developed its own brand, Novatik. It’s important to invest wisely in your company’s image, not only because this is the interface which connects you with distributors and customers, but also because the international brand owner might want to acquire your company if it’s well positioned in the market. The better your image, the more valuable your company becomes.
