I’ve seen brands take on a social purpose in two ways. One is to go back to the founding of the brand and understand its reason for existing. Brands often forget their original purpose in the chase for growth. Marketers focus on functionality and new features. But that does not mean the original purpose is irrelevant.
As the pace of their growth increases, companies often begin to make errors and accumulate debris that ultimately will kill them.
The American Express Centurion Card and its sibling The Platinum Card are prestigious, as are The Chase Sapphire Reserve and The J.P. Morgan Reserve Credit Card. These cards can buy luxuries. A Regal Cruise is luxurious with a wide range of luxury amenities. A Venicci Shadow 2-in-1 Stroller is a very prestigious perch for your infant. An Oscar is a prestigious award. But, what is prestige? What is luxury? These two concepts – prestige and...
Branding Strategy Insider helps marketing oriented leaders and professionals like you define and grow brand value. BSI readers know, we regularly answer questions from marketing oriented leaders and professionals everywhere. Today we hear from Ron, a VP of Marketing in Indianapolis, Indiana who asks these questions about intangible assets.
