Page 59 - MYM 2015

marketing textbook back in 1967, he turned marketing into a logical discipline within the science of economics. In place of rational utility governing demand and supply, Dr. Kotler and his colleagues introduced a behavioral chain of consumer research of human needs and wants, customer segmentation, marketing planning
and strategy, and the tactical 4 P’s of marketing – price, promotion, product and place as the governors of commercial exchange. A whole chain of supply
and value drove consumption. Philip Kotler and Peter Drucker shared a view that with good marketing you do not need sales. Marketing, not sales, should regulated consumption...and so it did for the next ve decades.
Not only did the sales function fall from the pedestal of commerce, but so did advertising. The sales rep who took the customer out gol ng and the Madison Avenue ad men who dreamed up great ideas became tools of the greater edi ce of marketing. Marketing became a science of discovering consumer needs and wants, product development and testing, channel distribution, promotion and pricing. Dr. Kotler’s rst edition devoted only two pages to branding.
of the day online. With no more marketing levers to pull, companies are left with just one thing to get the customer to buy. Company leaders must turn to brand belief and brand faith to fuel consumer spending. Brand holds the key to motivating consumer choice.
If You Want to Get Rich, Build a Brand
Much has been written on brands and branding. Most experts look at brands either from the framework of marketing or the framework of advertising. The marketing view considers brand as a differentiated product or service offering. The advertising perspective holds that brand is the creative image of a product bene t or trust in
To learn how to
create brand, don’t
just read marketing
literature. Immerse
yourself in literature,
neuroscience,
religion and the
psychology of mass
Systematic marketing has thrived for ve decades, but carried the seeds of its own destruction. Today, marketing isn’t working as well as it once did.
With big data research, technology change, global M&A and the growing scale of companies, and the massive investment in marketing, customers face
an overwhelming choice of high quality products, all close at hand and all sold in a similar way. Prices are matched in seconds. Product quality and features
are easy to copy. Promotion is lost in a sea of sound- alike, look-alike advertising messages. And place? You can get anything you want anyplace and any time
many branding experts claim. Brand is something else entirely.
Brand has more to do with people’s beliefs about products services than the actual features and bene ts or their economic utility. Utility is important, but brand belief is decisive.
Creating a brand is like creating a religion or mass movement. When you create a brand, you are creating a tenacious customer belief in something. The name and logo are symbols of that brand belief much like
a Star of David or a cruci x are symbols of Judaism and Christianity. The siren logo of Starbucks is a sign
mind I59 your
movements.
a company. None of these meanings
can possibly explain 10,000 people camping all night
at an Apple store to buy a new iPhone
6 or the millions of people who cannot start their day with a Starbucks coffee. Brand is more than differentiation or graphic image.
Brand cannot be understood as a tool of marketing. Brand cannot be understood as an output of graphic artists. Brand is not a name and
a logo. Nor is it
a combination of the positioning, value proposition, expression and experience, as so
marketing