When making decisions to purchase, customers choose the brand and company that gives them the value that others can't match. A brand that can show it is different from others, in a way that is relevant to customers, gains a significant competitive advantage. Unfortunately, we are frequently reminded of the lack of real differentiation in most mainstream organizations—and of the opportunities, they are thus squandering.
The world is growing increasingly complex and fast-paced. Technological advancements enable more and more brands to get the basics right. Copying is becoming increasingly easy as the sameness of more products and services makes differentiation more difficult. In the age of the customer, brand leaders have a steep hill to climb in building their brands with distracted, empowered consumers. Fortunately, brand-inspired customer experiences can help mitigate these effects. In this new era, brand marketers must shift from a company-centric approach of managing brand as an asset to a customer-obsessed one of creating a resonant brand experience.
Simply defined, a brand portfolio is the collection of brands owned by a company. Often for big companies, more and more brands are created to reach more and more audiences. While targeting more audiences sounds like a great way to build and grow a company, too many brands can cause confusion about each individual brand’s role – and eventually the corporate identity as a whole. The problem many companies face is thinking more brands will make them more successful, however. they lack the architecture and the ability to manage a multiplicity of brands well.