There has been an increase the number of Australian companies outsourcing the management of signage and in the next five years it is expected to grow even more. The reason for the growth can be attributed to increase in the frequency of re-branding and also as more and more companies look to make sure that there is consistency across the branded assets.
As per brand asset management group, Signmanager the outsourcing of signage management has now reached a level of 4% of the $500 million that are spent every year on signage in Australia. It is quite visible that in the past six years there has been a significant drop in the life cycle of a brand. Earlier the life cycle of a brand was 15 years after which there was a need of re-branding. Now the life cycle has fallen to as low as 5-7 years. This has made it almost necessary to go for re-branding.
Via openpr
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Brand management also involves managing the tangible and intangible aspects of the brand. For product brands the tangibles are the product itself, the packaging, the price, etc. For service brands the tangibles are to do with the customer experience - the retail environment, interface with salespeople, overall satisfaction, etc.
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