5 Best Practices of Global Brand Management
Managing brands in the long run requires some practices suggested by management consulting, which if followed ought to give best results. Corporate strategy must be a supple and adapt to circumstances. Technology must be made use of whenever possible and business analytics one such perfect example. A key mentor must exist in each firm to focus on consistency in identity and product advertising. Organizational configurations must be affiliated in a way that ensures minimum overlap and that all functions of the firm are designed in a way the brand can best take advantage of. Also it is extremely crucial to be proactive and use social media, CRM, trend analysis, crowd sourcing of knowledge and co-creation.
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