Chief executives of companies and establishments must be careful in their decision-making processes in order to create strong and suitable brands.
At the fourth edition of the CEO's company mentorship class in Warri, Delta State, the convener, Mama Helen Oritsejafor, who spoke on 'Building a Strong and Successful Brand in a Turbulent Economy', said without unifying vision a brand could be damaged.
She stressed the importance of a strong brand in businesses.
Oritsejafor said businesses should not be so enthralled with the present economic hitches in the markets, so much that they ignore their vast long-term economic potential.
She defined a brand as a unique design, sign, symbol, words or a combination of all in creating an image that identifies a product and differentiates it from other competitors.
To avoid common pitfalls and ensure growth into the future, she advised that they must enforce a brand strategy to create a documented plan for their brand success.
According to her, brand strategy is the articulation of what a brand is and aspires to be, the purpose it serves and how it is communicated to the world.
She highlighted that in terms of identity, perception is important as objective criticism is needed for the growth of a business and helps to broaden the understanding of business owners when relating to the gap between where they are and where they want to be.
"A brand strength can only be determined by its consistency. It informs the marketing goals, and the marketing goals inform your content strategy. This content strategy deals with how you share your brand, how you make good use of your company's vision, and how to move it forward."
In his remark, Chairman of Warri South Local Government, Michael Tidi, who commended the convener on how she has helped companies strengthened their businesses through her programmes, urged heads of organisations and business owners to practice all that was imparted in order to have long lasting organisations and businesses in the long run irrespective of the state of the economy.