IOM

Brand > Product

This week we would like to focus on why the brand is more important than the product. Products can become obsolete but brands can be timeless. Every product has their life cycle, when come to the final stage of the product, the new product will then replace, however brands can be timeless. Coca-Cola, Apple, and Ralph Lauren, to name a few, have sustained for so many years, and these companies are still making profit, which proves that brands are timeless. In simple words, products can be instantly meaningful, but brands become meaningful over time. A successful brand plan starts with a vision, ideas about what the brand should represent or symbolize. The plan should also include a mission and a specific plan-of-attack that helps launch the brand. Next are goals, things you want the brand to achieve, followed by strategies that provide a road map on how to get there.

One person today who understands the emotional aspect of branding better than most is Elon Musk. With his Tesla Motors, Space X rockets and Solar City energy company, Musk doesn’t have customers, he has followers. Known as a maverick and creative genius, Musk has successfully branded himself as a globe-trotting entrepreneur who’s out to save the world by inventing brilliant products and machines that are environmentally friendly. Now we all aren’t saving the world, but having the knowledge to create a groundbreaking story behind your business will have you building a legacy in the long-run.


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