I’m currently reading the book- “Marketing insights from A to Z” by Philip Kotler. The book is a collection of some of the key concepts in marketing identified by Kotler. One of the chapters is about Branding and I have tried to list out a few key thoughts mentioned in the chapter.
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The sign of a great brand is how much loyalty or preference it commands.
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Brands are built holistically, through the orchestration of a variety of tools, including advertising, PR, sponsorships, events, social causes, clubs, spokespersons and so on.
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A new brand should strive to establish a new category, have an interesting name, and tell a fascinating story.
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Learning about a brand from others creates credibility. Learning about it only through paid advertising is easy to dismiss because of the biased nature of advertising.
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Great brands are the only route to sustained, above-average profitability. And great brands present emotional benefits, not just rational benefits. And in the future, great brands will show social responsibility – a caring concern for people and the state of the world.
In my start-up, we are trying to create a new brand and are following the prescription mentioned in the highlighted point above. We are trying to establish a new category; we think we have an interesting name (8kmiles is our start-up name;let me know if you didn’t find it interesting) and we would soon be telling a fascinating story…
