[Video]What is a brand?
Posted: March 26th, 2020, 8:21 am
source:
https://www.youtube.com/watch?v=sQLlPC_alT8
transcript:
a brand is the difference between a pair of running shoes, and a pair of nickies. a brand is about what people feel about you, your product, the service you provide or your organization.
it's part(SYN partly) rational, but mostly emotional. people will forgive a strong brand if it makes a mistake. remember new coke? likewise people won't forgive a weak brand if it makes a mistake. remember gateway computers? we thought so.
so what is the secret of a strong brand? the answer is surprisingly simple. focus. I'll say it again, focus. great brands stand for something. not a lot of things, one thing. for decades, swedish car maker volvo defined their brand with a single word, safety. that seems to work for them.
sometimes you have to think beyond the category to know what you stand for. harley-davidson makes motorcycles. want to guess what they stand for? freedom. not a more powerful engine, not a more reliable bike or smoother ride. freedom.
brands are experiential. take starbucks, they differentiate themselves in a many ways, and offer a consistent brand experience in every starbucks that you visit. they even have their own language. starbucks's created a unique community of coffee lovers that speaks starbucks ease and true brand ambassadors and it doesn't get any better than that. starbucks has realized that they weren't in the business of serving coffee, they were in the business of serving people.
so can you put a monetary value on a brand? the people in the interbrand research can. remember the fine folks in the coca-cola we mentioned eariler? care to guess what their brand is worth? that's right. according to interbrand, about 61% value of the coca-cola corporation is the brand. that's a lot of cash. here is the monetary value of some other brands you'll be familiar with.
so a brand is worth protecting and nurturing. but how? here are a few key points to help maintain or even grow your brand. one, be different. the world is filled with parity(SYN equality) products and services. make yours stand out. two, be vigilant. don't allow your brand to do things that it shouldn't. don't be the gateway computers of your category. three, be relevant. the market place changes constantly. makes sure your brand keeps up.
so, who really owns a brand? the brand manager? the vp(vice-president) marketing? brands are owned by the people. it used to be a company would tell the people about the brand. it was pretty much the one-way thing. now it is much more of a conversation. but don't worry, this instant feedback can be very useful. it gives you a glimps of what's in the hearts and minds of your customers, and allows you to take action when you need to. it can also help you stay focused. that's a good thing.
so let's recap. a brand is much more than your logo or the color of your truck fleet. it's something intangible. it's what people think of you, but mostly on an emotional level. great brands are focused. they stand for something. great brands are not just seen and heard. they are experienced, and in the way that are uniquely theirs. a brand can have tremendous value, and should be treated that way. keep your brand healthy by being different, vigilant, and relevant, and finally never forget that people, your customers own your brand. listen to them, respect them. most of all, earn their trust.
references:
https://bbs.bizedu.net/viewtopic.php?f=2&t=1111
https://bbs.bizedu.net/viewtopic.php?f=2&t=790
https://www.youtube.com/watch?v=sO4te2QNsHY
https://www.youtube.com/watch?v=sQLlPC_alT8
transcript:
a brand is the difference between a pair of running shoes, and a pair of nickies. a brand is about what people feel about you, your product, the service you provide or your organization.
it's part(SYN partly) rational, but mostly emotional. people will forgive a strong brand if it makes a mistake. remember new coke? likewise people won't forgive a weak brand if it makes a mistake. remember gateway computers? we thought so.
so what is the secret of a strong brand? the answer is surprisingly simple. focus. I'll say it again, focus. great brands stand for something. not a lot of things, one thing. for decades, swedish car maker volvo defined their brand with a single word, safety. that seems to work for them.
sometimes you have to think beyond the category to know what you stand for. harley-davidson makes motorcycles. want to guess what they stand for? freedom. not a more powerful engine, not a more reliable bike or smoother ride. freedom.
brands are experiential. take starbucks, they differentiate themselves in a many ways, and offer a consistent brand experience in every starbucks that you visit. they even have their own language. starbucks's created a unique community of coffee lovers that speaks starbucks ease and true brand ambassadors and it doesn't get any better than that. starbucks has realized that they weren't in the business of serving coffee, they were in the business of serving people.
so can you put a monetary value on a brand? the people in the interbrand research can. remember the fine folks in the coca-cola we mentioned eariler? care to guess what their brand is worth? that's right. according to interbrand, about 61% value of the coca-cola corporation is the brand. that's a lot of cash. here is the monetary value of some other brands you'll be familiar with.
so a brand is worth protecting and nurturing. but how? here are a few key points to help maintain or even grow your brand. one, be different. the world is filled with parity(SYN equality) products and services. make yours stand out. two, be vigilant. don't allow your brand to do things that it shouldn't. don't be the gateway computers of your category. three, be relevant. the market place changes constantly. makes sure your brand keeps up.
so, who really owns a brand? the brand manager? the vp(vice-president) marketing? brands are owned by the people. it used to be a company would tell the people about the brand. it was pretty much the one-way thing. now it is much more of a conversation. but don't worry, this instant feedback can be very useful. it gives you a glimps of what's in the hearts and minds of your customers, and allows you to take action when you need to. it can also help you stay focused. that's a good thing.
so let's recap. a brand is much more than your logo or the color of your truck fleet. it's something intangible. it's what people think of you, but mostly on an emotional level. great brands are focused. they stand for something. great brands are not just seen and heard. they are experienced, and in the way that are uniquely theirs. a brand can have tremendous value, and should be treated that way. keep your brand healthy by being different, vigilant, and relevant, and finally never forget that people, your customers own your brand. listen to them, respect them. most of all, earn their trust.
references:
https://bbs.bizedu.net/viewtopic.php?f=2&t=1111
https://bbs.bizedu.net/viewtopic.php?f=2&t=790
https://www.youtube.com/watch?v=sO4te2QNsHY