Why Brand? 5 Famous opinions on the value of branding.
Clients come to us to develop their brand, because they know that to compete in any market, the magnetic desire consumers have for a brand can far exceed the rational decision to choose a product as a simple product, bought on price alone. Investing in a brand creates demand for a product that can justify a premium margin on every single sale.
To elaborate further, we’ve bought together 5 opinions on the value of branding from internationally renowned brand experts.
- Getting the ‘head’ part right by communicating rational, performance-based factors isn’t enough to wed our consumers to our brand. Rational engagement is like slipping your foot inside the door to hold it ajar, and to offer this as the solution for developing and maintaining loyalty to a brand is to ignore the underlying needs of human nature. This is where emotional engagement comes in. Jana Bowden, Research Consultant, Bowden Marketing Group
- If a product is not a brand, it is a commodity. This is where brand equity demonstrates its value by translating into revenue – through increased sales driven by branding, as well as the willingness of consumers to pay a premium.Michael Lieberman, President, Multivariate Solutions
- Just as Coke needs Pepsi, just as Audi needs BMW, we all need a bit of ‘other’ to define us. In order to know what we are, it helps wonderfully if you know what you are not. Rory Sutherland, Vice Chairman, Ogilvy Group UK
- You do not build brand value by saying how cheap you are. You do build brand value by reinforcing how special you are. Larry Light, Brand Consultant
- The imaginative power is just another description for the difference that makes us spend money – and spend it again and again. This irrational motif drives us to buy car with a star, sneakers with a swoosh, a coffee brand with a mermaid, etc. The quality, the service is easy to copy (look at the Chinese market) – but the brand power can hardly be imitated. Hans-Bert Matoul, H,T,P, Concept
Posted on June 11th, 2012
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Marriage is a leading creative agency in London and Bristol, specialising in brand, digital, direct respose and experience design. Our blog provides a commentary on the UK’s leading marketing campaigns, creative executions and industry-wide thought leadership.