Executives Peer-to-peer Groups And Their Benefits: Asia Pacific
At peer groups, you meet with leaders who match your level of management to utilize one another experience and convert knowledge to business value in everyday business life.
You learn, share and apply your knowledge in a professional peer group, and inspire each other with new perspectives, whatever the industry.
Members of a peer group are likely to influence other’s behavior and beliefs. They discuss, comment on and help other members of the group make their business better.
Peer-to-peer groups are a great way to get inexpensive and quality advice. Peer-to-peer groups can be intensely bonding and can provide solutions to long-standing business problems that you might be trying to overcome. At TheNewHandshake, the leaders come together to support each other’s professional development.
Consumers perceive and accept many brands within a certain trade group in different ways. By personifying a brand (How would you describe brand X if it were a person?) we can find out, that for instance consumers perceive brand A as a young, impulsive, lively, attractive, energetic woman full of ideas. In the same way could brand B be an elderly, conservative and relaxed man. The brand can also have a completely inexpressive and bad image. That is how brand C may not have any real personal characteristics, slim, tall, unnoticeable and calm.
The image basically expresses a way a consumer thinks about the brand and the feelings the brand arouses when the consumer thinks about it. On the basis of these characteristics, which the consumer associates with the brand, the company can build a competitive advantage for its brand.
What sort of image should our brand have?
Before answering this question it is important to take into account several factors and market circumstances: company goals, consumer wishes and expectations, trade groups and several other groups. A company builds its brand image through trade communication with its consumers. That is how a company informs the consumer of what the brand represents, what its values are, what the company is offering or guaranteeing the consumer, what its advantages are, its qualities etc. The consumers interpret all obtained information and form a subjective perception of the brand or its image.
Why research the brand image?
Understanding a brand image is of key importance to long-term management of a brand. It is also important how the consumers formed the brand and what kind of relationship was formed with the brand - what the brand means to them and how they have accepted it. Understanding the relationship between consumers and brands can help a company control its successful brand positioning and the efficiency of advertising.
How do we research the image?
The brand image is formed in the long-term and represents a non-conscious and "untouchable" area, which needs to be researched using projective researching methods that help the consumer to overcome certain obstacles and limitations as well helping him to be inspired in the world of brand names. The consumer does therefore not only focus on the brand, but mainly on his experience with it and on its usual users. He focuses on the opportunities, which are most suitable for the specific brand and what sort of image the brand presents etc.
We are able to research and describe the brand from various perspectives. We obtain many different associations, ideas, benefits and people whom the consumer in some way connects to brands, which need to be suitably and correctly interpreted. It is important to define the key characteristics and values, which are connected to a specific brand by the consumer. Relevant findings show results of long-term management of a brand and represent key dimensions on which the competitive advantage of a brand is based.
Two kinds of peer-to-peer groups are: moderated group, where the members moderate meetings themselves, and facilitated groups, where a trained facilitator runs the meetings.
There are organizations who help put together these groups with a very formalized structure.
While putting together a peer-to-peer group, the important steps are:
- Confidentiality. Trust is likely the most important thing the group must have. Everything that happens in the group must stay in the group.
- Keep the group membership small. It’s important that everyone in the group has time to speak.
- Mandatory meeting attendance. Commitment to the group is one of the keys for group’s success. Meet face-to-face. Meet atleast four times a year; better is to meet once a month.
- Agenda. Time is important and make sure its well spent.
- Frank and honest discussion. You need to be honest and ask open-ended questions. No personal attacks in group. Peer-to-peer groups help you find your own answers.
- Limit Advice. Give advice only when asked. First, learn to listen. Peer-to-peer groups need to understand an issue before anyone starts to give advice.
- Different people. Have people from different industries in your group, and you’ll get different points of views. Respect others.
- Learning plan. Members must create a learning plan. A good plan sets performance goals.
Peer learning groups in TheNewHandshake accelerate growth for leaders and managers. Peer-to-peer coaching in groups is a powerful approach to leadership development. Peer groups provide a more formalized outlet for learning from the experiences of peers.
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Start with trust – work to create trust within the peer relationships. Curate membership – create a group with shared core values and an environment for growth. Work on relationships.
Peer groups are a fast track to better management. In a peer group everything gets shared and everyone is accountable to each other. Be sure to have an open mind as you enter a peer group. Set some goals on what you want to get out of the experience.
TheNewHandshake is more than just a Business network