This article was previously published on the Vistage website, you can find it here. Marketing has a reputation for being a bit... nebulous. Qualitative. We’ve even heard it described as ‘fluffy’. Your efforts (should) have a tangible impact on the bottom line, but too often business owners find themselves wondering exactly what their marketing team are up to. Marketing can't afford to be vague; it can and should be as accountable as every other department. Marketers should be able to tell you what they're doing and why, and how their efforts are improving results for the business.
Your company and its products are going to create a brand whether you’re trying to or not, so you need to keep your brand under control and have it work for you.
By Tim Ellett of The Marketing Centre At first glance, McKinsey’s quarterly marketing and sales report for 2017 – The new battleground for marketing-led growth –
Marmite: you either love it or hate it. Or so the advert goes.Well, those that love it, really love it.Following Unilever’s recent row with Tesco, dubbed ‘Marmitegate’, consumers flocked to Twitter, signed petitions and complained loudly to news channels.Threatened with a 10% price hike for many of their best-selling brands, the retailer withdrew a significant number of Unilever lines from their shelves. Brits from Dover to Dundee were incensed; the press waxed lyrical about the episode as a post-Brexit portent of doom, and £3 billion was wiped off Unilever’s share price.
What is a brand? It’s a simple enough question, but now and then we meet someone who has to ask it; someone who isn’t sure if their business has a brand, or whether it should have one at all. Just as every person has a personality, the fact is every business has a brand – whether it accepts the fact or not. The practical question for owners and managers is “what is my brand, and how do I manage it?”