![]() But during a wave of infections, people might wish to maintain more distance between themselves and others in shops, or may choose to avoid crowded venues. However, if possible, staying at home while we’re unwell is a sensible and considerate thing to do, particularly when COVID rates are high.ĭistancing should also remain a choice. Isolation is no longer a legal requirement, and I think this should remain the case. This will help inform our decision of whether, and to what extent, to minimise contact with others. It then becomes even more important to take a test if we have any symptoms that might be COVID-related. Let’s say we start to see COVID cases rising again come autumn. The idea is that we can pick up or step up precautions when we most need them (when COVID cases are on the rise), before relaxing them, if we want to, when infection rates and risk are lower. Beyond masks, these include testing, ventilation and social distancing. But the umbrella analogy can guide our behaviour and choices in a variety of areas of our response moving forward. Thanks largely to the impact of vaccines, we no longer need the kind of rules-based approach to risk management we saw earlier in the pandemic. This is the nature of the current phase of the pandemic we’re in, a big part of which is based on personal choice and responsibility. Of course, some people may choose to wear masks more consistently in certain settings, while others may forgo wearing them altogether. ![]() Similarly, if COVID cases are starting to rise or if a new wave is forecast, we might consider grabbing a face mask, for example.īut just as there’s no need to carry an umbrella with us when it’s sunny, we needn’t be expected to wear masks all the time. If we look out the window or check the weather forecast and see rain, we would probably take an umbrella out with us. But there will be more of both – and in future, we might think about how we protect ourselves from COVID in the same way we protect ourselves from the weather.Īn umbrella is a useful analogy. There are also companies/brands which prefer to market their products individually, such as Coca Cola, creating in such a manner an identity for each of their products.Thankfully, the UK now looks to be past the peak of both the recent heatwave and the latest COVID wave. As customers get more positive experiences from that single brand, the more likely they in purchasing other products from the same brand. To sum it up, when customers go for shopping, they usually search for their favorite brand, because they are loyal to it. Therefore, new product launch becomes easier and cheaper as it can find already available recognition and market set up. The rising brand image of the parent brand due to increase in number of products, and assuming that it maintains the quality, can represent a powerful competitive advantage especially in competitive markets such as the electronics and telecommunication industry.Īnother great advantage of this marketing practice is that once a well-known brand wants to introduce another product, there will be no cost required for brand creation. ![]() ![]() Once people have discovered the trust of one single brand, they will be interested in trying the other products of the same brand due to the application of umbrella branding. Usually, the master brand elements have to be incorporated in all products as it commands trust, respect and loyalty. Given the enormous cost and the extreme high failure rate of new product developments especially in fast moving consumer goods (FMCG) categories, brand extension strategies have been developed to better implement new products into the market.Īlso Read Organized Retail - Meaning, Advantages and Examples The best way to increase the bottom line is to increase the brand loyalty amongst customers. However, increasing the bottom-line of an existing product is relative difficult because of competitive factors as well as the cost of marketing and advertising. This is relatively easier for the company to implement. This can be done by launching new products in the market or increasing the sales volume and bottom line of products already existing in the market.Īttracting new customers and getting higher sales volume requires the addition of new customers as well as the increase in the repeat purchase rate. Effective and attractive growth can be obtained by increasing market share. Brand marketers are continuously searching for innovative ways to achieve and retain competitive advantage. ![]()
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