A brand is a business person’s best friend
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Transcript of A brand is a business person’s best friend
A brand is a business person’s best friend
This presentation was authored by Richard Huntington. In accordance with the Creative Commons Licence for
adliterate you may use any or all of this presentation for commercial use.
Attribution would be nice though.
Revisions and additions are very welcome and can be emailed to me at [email protected]
A brand is the sum of all the associations about a product, service, or organisation that
live inside a consumer’s mind
The richer and more focused the associations the more
powerful the brand
You don’t own your brand…your consumers do. Without
the associations in their heads all you have is a
product, service or organisation
Your job is to shepherd, marshal and direct all those associations so that they are richer and more productive
Why bother?
Monopoly
Monopolies are good for businesses because in monopoly conditions
businesses get to name their price…
…within reason
Few of us operate in actual monopoly
conditions
But we can create effective monopolies…
…if consumers want our brand enough to resist
substituting it even when it is priced at a premium to the
alternative
Innocent don’t have a monopoly over smoothies but
they do over Innocent – no one else can provide
consumers with the innocent brand
1 litre of Innocent smoothie at Ocado
£3.29
1 litre of PJ’s smoothie at Ocado
£2.79
Innocent’s share of the UK smoothie market
48%
Similarly Apple don’t have a monopoly over MP3 players
but they do over IPods
Ipod’s share of the UK MP3 player market
80%
Cost of a 30GB IPod at Micro Anvika
£219
Cost of a 40GB Gigabeat MP3 player at Micro Anvika
£149
You can usually tell if a brand is healthy if it is being sold at
a premium
Or if the consumer is happy to make another trade off,
like the shopping experience at Ikea or the lack of
allocated seating on Easy Jet
Brands are brilliant but…
They must have substance not just image
Innocent make great smoothies
Apple make great mp3 players
And these days no brand is invincible faced with a superior
competitor
Hoover thought they had a great brand until Dyson arrived
and stole their lunch