Consumers are skeptics. They see advertising and marketing as a sea of lies, and for good reason. They’ve been deceived too many times. 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.
More often than not, a company’s vision and mission statements fail to capture the true nature of what the organization’s core purpose is, what makes them different, relevant and authentic. Successful brands are those who understand that the brand’s core concept serves as a compass, guiding the organization, their partners and their 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!