Brand – a definition

There are many definitions of the marketing term “brand.”  There are brand managers.  We speak of the brand experience.

Companies craft and shape their brand image.

Loads of lucre is spent to preserve, protect and defend brands.

The definition I most like?  An

Enduring

Buyers believe that value will remain consistent.  Coca-cola conjures a shapely bottle, bright red cans.  Mouths salivate in anticipation of that unique taste.

Promise

I lace up my Nike shoes and suddenly I can “Just do it.”

Of Value.

“No one ever got fired for buying IBM.”  “Volvo.  For Life.”
We just know these things about these mega-brands.  But we should be asking, and answering, these questions about our own brands.

If that’s what a brand is – then how can a brand be elastic?  Why should a brand be elastic?

Because this notion of a “brand” was established when the world was r_ouⁿd.

And as we know from Tom Friedman, the world is now flat.

Technological advances have not just leveled the competitive playing field.  They have redefined the cultural and commercial structures of the global economy.  The “flat world” has created both enormous threats to well-established businesses (think of the phenomenon of outsourcing to India in the 90′s), and laid the groundwork for the emergence and rapid growth of a whole new generation of businesses, business models, and – yes, brands (dare I mention Goog… nah).

And what it means to be and to manage a brand must change as well.

I suggest that along with these great technological advances and planet-flattening changes, there has been a fundamental change in the power balance between buyers and sellers.

There was a time when brands could control what information buyers had about their products.  Those days are over.

There was a time when the owners of newspapers and magazines, billboards, television and radio stations, owned the only communication vehicles consumers could consult for information about products and services.  Vendors financed those businesses through advertising, and thus had great influence over what information reached subscribers, viewers, or listeners.  Those days are over, too.

Brands, or vendors, have lost control over what information buyers have access to, and how they get it.

Thanks a lot, Vice President Gore!  Your internet has taken our flat world, and turned it upside down!