Brands are psychology and science brought together as a promise mark as opposed to a trademark. Products have life cycles. Brands outlive products. Brands convey a uniform quality, credibility and experience. Brands are valuable. Many companies put the value of their brand on their balance sheet.
When Kraft bought Cadbury for $19.5 Billion, they didn’t buy chocolates, factories or recipes, they bought the brand. When Tata Motors of India bought Jaguar and Range Rover from Ford they didn’t buy raw materials, factories or employees, they bought the brand for $2.56 billion, and the brands were worth more than all other ingredients combined. When Four Seasons Hotels, Inc., a Canadian-based international luxury, five-star hotel management company, sold itself to Bill Gates and and Prince Al-Waleed bin Talal of Saudi Arabia for $3.8 billion, they didn’t buy locations, restaurants or staff. They bought the brand. The list goes on with many examples.
Branding is fundamental. Branding is basic. Branding is essential. Building brands builds incredible value for companies and corporations.
The best branding today is based on a strong idea. The best brands have remarkable creativity in advertising to help them break through people's wall of indifference to create brand heat and product lust.
No branding, no differentiation. No differentiation, no long-term profitability. People don't have relationships with products, they are loyal to brands. In a movement strategy, brands have a purpose that people can get behind. Brands can inspire millions of people to join a community. Brands can rally people for or against something.
Focus on brand building.