The world is learning to navigate the uncertainty of global events: although it is not yet clear what the next disruption will be, we now know that the supply of goods can easily be interrupted. Thus, global brands today need to plan for the uncertain; the good news is that there are elements that help maintain stability in rough times and even promote market expansion.
Undoubtedly, the principal aspect to surviving a disruption is to build strong brands. It is neccesary to work constantly on generating competencies that will lead a brand to dominate the markets in which it already competes and conquer new latitudes.
An effective methodology to ulding stong brands consists of strengthening the key aspects of the brand in the market. At maxiaNET, we use the 6Ps methodology:
To achieve permanent and constant growth, it is important to gain a controlled presence according to a strategic plan that clearly defines which channels, cities, or market segments will be covered and execute the strategy precisely.
Product price stability is essential to achieving consumer and distributor confidence. Thus, monitoring the consumer-facing price of a brand is crucial.
When a product is consistently placed in stores, on shelves, and on displays, a healthy brand presence is achieved: consumers will find it easier to identify and be close to a brand that is always found in the same displays.
We are not talking only about retail discounts. An efficient promotional program translates into stable sales and greater inventory control.
A fifth success factor for a company is geographic and sales channel penetration: the right mix generates market leadership and top of mind; the wrong choice can cause a loss of consumer trust and resources.
The correct execution of the above pillars allows us to gain control in the market.
Visibility: the ace up your sleeve
For the 6Ps methodology to be effective, it is necessary to have real-time knowledge of the market situation. If decision-makers do not have updated information or if they face unvertanity about what is happening with the brand, or the competition, it is very likely that decisions will be made reactively.
Thus, it is advisable to have a 360° real-time visibility system: ideally, leaders should have access to an information dashboard tailored to their needs, which allows them to visualize information in several layers, with specific variables for their business objectives, and with graphs that aid them to convey their achievements or concerns persuasively.
Every minute counts when strategic decisions are necessary to correct a plan, so ideally the dashboard should be updated automatically. For exxample, at maxiaNET, our visibility platforms automate the loading of information, the processing of data, and the presentation of graphs.
These real-time updates are also essential to generate a risk map: maxiaNET´s partners were able to continue to grow even during the pandemic, as risks were successfully located and minimized.
A backup plan
Even with all the data available, it is impossible to predict the unpredictable. This is where partnerships play a crucial role: it is always useful to have a network of partners that can act as a backup when one of the links in the chain finds itself in a problematic situation. To achieve this level of collaboration, it is essential for the data to be shared transparently between partners and always have the consumer in mind.
All these elements, planned and executed with precision, become, over time, a safety net: they provide a secure floor to walk on amid so much uncertainty.