Transcript 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
Cost of a 30GB IPod at Micro Anvika
£219
Cost of a 40GB Gigabeat MP3 player
at Micro Anvika
£149
Ipod’s share of the UK MP3 player
market
80%
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