A purpose statement is meaningless unless it translates into action. For that reason, let’s explore five channels through which purpose can be embedded in an enterprise – strategy, operating model, culture, internal reporting and governance.
Behavioral and marketing science have identified that building more mentally available brand associations is the primary purpose of marketing. But it is not the only way to build these associations.
The average American spends $384 per year on dental care between out-of-pocket expenses and insurance co-pays. That’s about $10,000 on dental care over three decades, on top of the hassle of scheduling appointments, getting to them, waiting, and the pain of the care—a pain point if there ever was one.
What is valuable? That’s a carefully answered question in times of uncertainty. Today is no exception, people are re-evaluating what is valuable in their lives and what is not. With a recession all but official and in lock-step with a health crisis, brands must be thinking about how they are going to remain valuable to those most important to their future.
Covid-19 is impacting nearly every sector of the economy. I live in Seattle, which was where the first case and deaths happened in the US. Companies large and small are doing their best to have employees work from home, which is easy for lots of us “knowledge workers” to do.
