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© 2009 The 60 Second Marketer
Transcript:
Is Branding Dead?
In the early 20th century, companies like Ford and General Motors relied on sales people to create demand for their products and services.
But in the 1950s and 1960s, companies like Procter and Gamble invented marketing, which used mass communications to differentiate products and services.
A key component of any marketing program was the brand.
A brand was loosely defined as the “position” a product or service held in the consumer’s mind.
But over the past several years, that definition has died.
It has been replaced by the concept that a brand is not what people think about your product or service, but how people experience your product or service.
For example, Starbucks doesn’t sell coffee. They sell the entire coffee experience, starting with the first subconscious inkling that it might be time for a cup of coffee and continuing through the entire purchase and post-purchase process.
So, is branding dead? Yes, the 20th century version of branding is dead. But it’s been replace by a 21st century version that reflects the experiential nature of today’s consumer.
The 60 Second Marketer is an online magazine that provides free articles and videos to marketers around the globe.
Wikipedia defines branding as:
A collection of experiences and associations connected with a service, a person or any other entity.
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