Ever wonder why brand is important to corporate growth? Check out Jennifer Barron’s “5 Reasons To Bring Brand Into the Boardroom,” in Marketing Daily.
Barron contends that brand is a company’s most valuable asset and a driver of customer purchase. She says brand requires investment and must be aligned with everything the company does.
Most importantly, Barron says brand should not be confused with marketing.
Brand fo the boardroom
I’d like to add one more: Brand is the best way to steal market share.
Some foolishly believe that discount prices or superior products steal share. Yet prices and products often yield short-term gains and may not be important to consumers.
The best way to offer true choice to consumers is to offer a different brand. When everything is equal, as it is in most industries, consumers stay with familiar products.
They will switch only when they see something that is different, a true choice. That’s where brand comes in. If your brand is different and better than the competition’s, you will steal share.