It’s simple, but it’s the hardest task to undertake for any company. Positioning and branding is not putting your company logo on a coffee cup. It’s what you do, how you do it, how people feel about you and your company’s reputation, what you stand for.
In the past brands were developed as a label of ownership, a name or a symbol. Today, however, a powerful brand can derive success in a very competitive market and can become the company’s most valuable asset. Companies like:
Branding and positioning is more about your company’s reputation, what you feel and how you engage with the products and services. It’s not about the bricks and mortar or the latest technology they use, or the fantastic new logo design for the company. Positioning your company or product is the most important exercise, and the responsibility not only of the marketing department or even the CEO, but the whole company from the CEO down.
Researchers at the Department of Psychology at the University of California gave distilled water to students. They told some of the students that it was distilled water, and asked them to describe its taste. Most said it had no taste of any kind. They told the remaining student group that the distilled water came from the tap. Most of them described the taste as horrible. The mere mention of ‘tap’ conjured up an image of chlorine.
The principles of branding apply to every company, big or small
Why you need strong branding and positioning
The master of publicity, Branson made sure he was seen in every newspaper, TV show, radio station and news programs around the globe. It takes time to build a brand, but millions of dollars to maintain high-flying brands like Nike and McDonalds. Remember, it’s not just about sales, it’s also about company structure and culture.
That’s why Virgin has minimal management layers, a tiny board and no massive global HQ. Branding is multi-layered and complex, that’s why you need to dedicate time, money and effort into building and maintaining a brand.
Why you need consistency in your brand
The world’s most recognisable and valuable brand. Coca-Cola currently has about 4.32 billion shares outstanding. With a share price of around $43.50 per share, that puts Coca-Cola’s market capitalisation at roughly $188 billion.
Advertising did play a role in the success of Coca-Cola, but the real success should go to its brilliant distribution model. Every corner of the world has a Coca-Cola vending machine. Coca-Cola wasn’t always the powerhouse we see today. In fact, in the first year, the company only sold nine glasses of Coca-Cola a day.