Originally published at: https://blog.12min.com/a-new-brand-world-summary/
Eight Principles for Achieving Brand Leadership in the Twenty-First Century
What Nike and Starbucks do when it comes to marketing and branding?
Are they revealing some of their secrets inadvertently? – Nevertheless, you should identify what you would like to find out.
Who Should Read "A New Brand World"? And Why?Armed with a new approach, Starbucks quickly realized that the only way towards prosperity is by focusing on word-of-mouth. At the time, it was a pretty overwhelming strategy, that ultimately paid off. Marketers nowadays and other people involved in advertising applaud this brave idea down-to-earth.
Nowadays, when someone mentions the word – Starbucks, all you can think of is – Wow!
“A New Brand World” has a wide range of values that can answer numerous questions associated with various topics. However, it’s best equipped for people in the marketing world, and company owners that need to work on their branding.
About Scott Bedbury and Stephen FenichellScott Bedbury worked at Starbucks as a senior vice president, from 1995 – 98. Currently, he is CEO of a consulting firm called – Brandstream. Before his Starbuck campaign, Scott used to work for Nike – heading the marketing department.
Stephen Fenichell was born on April 22nd, 1956 in New York City. He has written several books as an author or co-author including Other People’s Money, Daughters at Risk: A Personal DES History and Carolyn 101.
"A New Brand World Summary"Starbucks is known for its low investments in marketing and ads. However, the impact that this company produced globally speaks for itself. It’s equally important to say – no industry has come up with the perfect marketing plan that works under any circumstances.
According to experts, many companies embrace this theory, regardless of its contradictory nature. To take this point even further, “A New Brand World” targets large corporations and their operational activities.
If you ask the people about whether they prefer to know about the services some company has to offer or to simply hear positive commenters from other – 90% of them will go for option number two.
How to interpret this discovery? Well, the world wants to see results, no one likes scams or theories that seem too good to be true. As production intensifies, the management team often is forced to choose between a limited number of growth-alternatives.
Starbucks experienced the same situation and yet decided to focus on store design, excellent packaging, and market positioning. The branding occurred spontaneously while delivering a first-class experience on a constant basis. The word spread and Starbucks have reached the stars on a global scale.
Together with Nike, and other branding super-powers this “Coffee-factory” invested in flawless customer experience. Their marketing strategy was an absolute delight among the ordinary people.
Such remarkable branding resulted in global success and conquering the world. The brand-machinery includes all the unique and various impressions, personal experiences, opinions, and ideas that people want to share when they think about your commodities.
Don’t fall into despair, if you haven’t found a way yet, to connect with your target audience.
Identify all the segments that will protect your brand’s essence.
- Make use of your head to improve your company’s internal processes.
- Get into the customer’s head and observe things their way.
- Connect with your target group and build a loyal base of customers.
- Fight hard as a cartoon hero, for maintaining stability.
- Make size work for your sake, not the other way around.
- Define the company’s vision so that the employees will understand the brand’s values
- Build an atmosphere of support for your co-workers and partners
- Become a parent to the brand, protect it against any external enemies.
Don’t take this the wrong way; the lessons emphasize some core values related to branding and promotion. The digressions present in this book, are immensely amusing and even instructional. It can’t get much better than learning how Nike and Starbucks handled market challenges and endured to this day.
“A New Brand World” is more than some marketing or sales guidebook that gives priority to the outcome. Facts and fantasy meet on controversial grounds and undress every concept associated with branding.
The bottom line is that you cannot win a marathon without participating in it, you cannot increase sales without a proper vision and strategy. We recognized the power emerging from this masterpiece and for the same reason we are sharing this book summary with you, like a hot cup of tea after a long day.
Key Lessons from “A New Brand World”1. Word-of-mouth strategy 2. Investment in marketing 3. No detail is irrelevant
Word-of-mouth strategyA perfect word-of-mouth orientation, available to everyone. Don’t get your guard down, if some criticize you for lacking inventiveness in the marketing department.
Moreover, a good organization is always flexible and prepared to hear all opinions, and interpret them objectively.
Investment in marketingInvesting in marketing is an inclusive perspective; by narrowing it down, your organization will spontaneously specify all the segments linked to the overall marketing strategy.
Be precise and eager to learn more about what the new digital time has to offer.
No detail is irrelevantHave you heard people talking – that paying too much attention to details will give you a headache? However, the brand-world advocates for the opposite perspective.
A company pursuing acceptance from the audience must absorb colors, packaging, flavors, the versatility of offers, moods, as an integral part of the brand-building process.
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“A New Brand World” Quotes[bctt tweet="Avoiding the mass media can communicate a kind of authenticity to consumers." username="get12min"]
[bctt tweet=“Intel was well aware that with every new, faster chip, it was essentially killing its young, but it recognized this violent act as a form of what Intel chairman Andy Grove called ’creative destruction.” username=“get12min”]
[bctt tweet=“Every brand has at its core a substance that gives it strength. You have to understand it before you can grow it.” username=“get12min”]
[bctt tweet=“A product is no more than an artifact around which customers have experiences.” username=“get12min”]
[bctt tweet=“Even the best advertising cannot create something that is not there.” username=“get12min”]
Our Critical ReviewNot many books in the world, share the versatility like this one, due to the unique way of reaching customers and market positioning.
As you can see, there are no strict rules that your company must follow, make peace with your mind and start building a solution.