Retail Marketing and Branding: A Definitive Guide to Maximizing ROI, 2nd Edition

CHAPTER 20

TEN PERSPECTIVES ON RETAIL MARKETING

Jesko Perrey, Dennis Spillecke

1. Brands are value generators. In an increasingly differentiated retail and media landscape, consumers use brands as signposts for their decision journey. As a result, brand image is a key factor in retail customer acquisition, development, and retention efforts. This makes branding a top management topic that should not be delegated to marketing departments or agencies.
2. Brand management requires a combination of art, science, and craft. A large part of this book focuses on the analytical foundations of retail marketing. But successful brands also depend on the art of creative minds and the craft of seasoned practitioners. It is through the interplay of the three elements that strong brands are created – and sustained.
3. Retail branding is a three-front war. Retailers face brand-related challenges at three levels: umbrella branding, store branding, and product branding, especially regarding the ever-changing mix of manufacturer brands and private labels. This calls for a systematic approach, but one that leaves room for flexibility in daily brand management decisions.
4. Format follows branding. New lifestyles and hybrid consumption give rise to a proliferation of formats, from subterranean smart stores to suburban multi-brand malls. But always remember that the store format is where your brand promise takes shape. Keep innovating, but make sure new formats fit and support your brand.
5. Money doesn't change ...