«As the innovation cycles of a product become shorter, the value of distinctive brand connotations becomes more important to the customer.»
We think of a “brand” as a collection of specific connotations that are “loaded” onto the stakeholder’s brand name or logo. These values, features and meanings are the focus of responsible, strategic brand management today.
Products and services, every aspect of communication, employees and how they interact with customers – and everything else that the stakeholder does connect with the brand name has an effect on the collective connotation of the “brand”.
This collective connotation is dynamic. It changes (often unnoticed) as a result of the exchange of opinions and interaction among customers as well as between them and the groups that influence them. In addition, the activities of competitor brands, media commentary and claims made by other stakeholders have an influence on customers’ perceptions of the brand. This is how brand connotations change over the course of time – often to the disadvantage of the company.
The challenge of brand management is to have a strategic and positive influence on this change in connotations within the target range of the brand: this is a never-ending task that begins afresh every day!