A story dates back to 1985 when Coke consumers protested against Coca-Cola for changing its Coke formula. This was the year that marked the birth of branding. It was the discovery moment when a brand was redefined as more than just a logo, a name, or color.
Donald R. Keough, the then COO of Coca Cola company, stated that the protests came as a shock to the company, as they had failed to consider the public’s attachment to the idea of Coke’s old formula presented.
So, what’s a brand?
A brand has no clear definition. However, a successful brand can be termed as one that is most in-demand, most respected, highly recommended, and of course, one that commands a huge following.
…and how is branding important? Branding is what enhances the brand. It is what will make people choose to partner with you wherever you go or in whatever you do. It is about setting yourself apart from others.
Many may discern branding as a difficult task and opt to differentiate themselves through pricing and quality, but the irony is that people do not care which product is best. All that matters to them is which brand is best marketed and most recognized. Explains why Coke fans were over the roof with Coca Cola’s move.
With this in mind, it is important to understand that a business can be a brand, but not all businesses are successful brands. So, how can you make yourself a successful brand?
Add a Comment