By Torsten H. Nilson
This publication explores the more and more very important subject of name construction in the one-to-one proposal. It explains find out how to in achieving what all retailers dream a few services or products custom-made for every person purchaser that's either an excellent worth for the client and a ecocnomic enterprise for the manufacturer. It makes use of sensible instruments and case reviews to teach how a firm can optimize its model advertising assets.
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Additional info for Customize the Brand: Make it more desirable and profitable
Simplify and focus – customized branding does in one sense make the world even more confused and over-communicated because the message is adapted to suit each customer category. The way to cope is to simplify and focus. Be relevant – the purpose of having a customized brand is to be more relevant than the competition. Ensure repeat purchases – this goal for a successful business is the reward for a well-developed brand proposition. The customized brand will be in a stronger position than a traditional mass-market brand to deliver a product or service that will be so appreciated that there is no doubt as to whether a repeat purchase will take place or not.
In person, queue up and, after waiting, ﬁnally be served by a clerk. Nowadays, you can of course still go to the bank in person and opening hours are likely to have been extended, but it is more likely you will use any of the automated teller machines situated near the bank, or you can use the telephone, or your PC, or indeed the old-fashioned postal service. It may seem like many of these changes took place a long time ago, but not so. In 1996 we recommended a leading UK high street bank (one of the ‘big four’ at the time) that they ought to focus on PC-banking, develop their service into what could be considered an Internet portal.
Long term it is a recipe for disaster. For a brand or company with ambitions to be a leader such a short-term strategy is incompatible with brand leader ambitions, unless the strategy is to be a ‘snob’ brand. American Express in Europe applied for many years a philosophy of rejecting many applicants to build the snob value – apparently with great success at the time. To grow outside of the premium market and become a generally acknowledged leader is, however, not possible on this basis. First, it creates ill will – who wants to be rejected?