Tech-driven brand strategies will define this decade
By Retail4Growth Team | March 03, 2020
N. Chandramouli, CEO, TRA Research cites two examples to make a strong case for technology-focused brand strategies. While these examples may apparently be far removed from the retail business, they do offer a lesson on how the right application of technology can make a meaningful front-end impact. Read on...
Technology is only as good as the use it is put to, and in the last decade technology has enhanced quality-of-life tremendously, by providing consumers with convenience, price, access and speed. Till now, technology and brand worked together; examples like AR, wearables, online aggregation, EVs, IoT, AI, have brought better and more enriching consumer experiences. In this defining decade, however, technology will no longer only work parallel to the brand, but will become an integral part of every brand strategy. An ‘Integrated Technology’ approach will be this decade’s defining piece such that all relevant technologies come together like a jigsaw to solve consumer problems. Such applied technology, often invisible to the consumer, yet impacting them deeply, will give rise to a host of yet unaddressed opportunities.
Since access to technology has become simpler in the interconnected world, tech is no longer the exclusive domain of large companies. In fact, many times, radical new tech developments come equally from small and medium-sized organizations, which usually have an intense focus on solving one large problem. I will take two examples from different sectors to demonstrate the way some radical thinking companies are using technology to solve some of the most difficult problems of humans. These two, and many more which integrate technology intricately with the brand strategy such that the two are indistinguishable, I argue, are poised to become tomorrow’s leaders.
Read the full article in the February 2020 edition of Point-of-Purchase Magazine.
About the Author:
N. Chandramouli is the CEO of TRA Research (Publishers of TRA’s Brand Trust Report, TRA’s Most Desired Brands Report) - A brand insights company
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