Building a strong brand means managing consumers’ expectations, honestly and consistently. However, all too many try to be something they’re not, only to disappoint consumers with outlandish claims they couldn’t possibly live up to.
On May 13, 1931, Neil McElroy (P&G) proposed the modern concept of “branding”… and brand management was born.
Companys’ vision and mission statements often fail to capture the true nature of their core purpose, what makes them different, relevant and authentic. Successful brands understand that their core concept serves as a compass, guiding the organization, its partners and its consumers.
Many companies fail to achieve their branding goals because they mistake their brand for their product, service or technology. Simply put, a brand is none of these!