Why Companies Need Brand Management For Post-Covid19 Recovery

Without doubt, the Covid19 lockdown will soon end, but moving forward, many companies will greatly feel the effect for some time, while the smart ones will slightly feel it and come out stronger in a jiffy.

Obviously, many companies are already in it but the major trying time is Post-Covid. This is because there will be Perfect Competition (A situation where competition is so fierce that the industry players force their pricing down to basically their cost base....) in all industries because of these 3 inevitable conditions.

1. Large number of sellers with low barriers to entry: Many new bus

inesses will emerge out of thick skin, while the existing ones will extend to new sectors of organic growth.

2. Perfect information: Smart thinkers and multi-super skill innovators will enter the market, especially the IT sector.

3. Homogeneous products: Creative inventors and ideas merchants will introduce homogeneous products to the market.

Amidst this fierce perfectly competitive environment, only companies with smart Brand Managers will maintain their brand position, customer loyalty, increased sales, and grow while some struggle and others forced out of the market.

Clement Oladepo is an innovative Brand Manager to individuals and companies in different industries and the CEO of Beau Ideal Communications, Abuja, Nigeria.