I love this brief video from Forbes which essentially talks about the importance of companies’ understanding their USP, how to compete with a world full of free information. Also how to deal with understanding the meanings that customers attach to your products and services.
All this is in fact the Art + Science of BRANDING that I’ve been advocating all these years, where it comes down to just a few fundamental activities:
- The understanding of customer’s meanings to a brand.
- The management and optimization of these brand meanings that any brand-builder must understand and incorporate into both their brand and business strategy.
- The crucial importance for any brand-builder to understand your true identity (what you stand for; why are you here; who you appeal to, etc.) and incorporate that into a clear and distinctive brand positioning that separates you from your competition.
- The role of culture in impacting the customers’ meanings.
The video also talks about the importance of positioning.