The Value of a Promise Consistently Kept
HARDCOVER: 170 pages
PUBLISHER: Kinvest Inc. (2015)
Key Messages In This Book
In the 10 chapters of this book, I hope you will learn how your company can prosper from approaching your brand as an asset. Based on my own experience, which I will discuss in some detail, you will see how powerful a well-managed brand can be and how draining it can be if it’s not managed properly.
- Despite widespread and radical changes in the business world, the brand remains a misunderstood and mismanaged concept. Many companies regard their brand as a marketing exercise that appears as a cost on their income statement. In fact, managed as a business system, using measurable metrics that I’ll describe later, a brand becomes an organization’s most valuable asset, one that rightfully brings value to its balance sheet.
- The management of a successful brand begins at the top. It’s the responsibility of (and an opportunity for) C-suite executives to identify the changes required to lead a brand forward, and to support the team within the organization that will make those changes happen to generate competitive advantage and sustainable, profitable growth. As the leader of an organization, you are not just an ambassador for your brand — you are also its guardian.
- In many businesses (and business schools) brands are managed under the conventional 4 Ps of marketing: Product, Place, Price, and Promotion. In the complexities of the current business world, organizations need to update their model and profitably apply the new 4 Ps of brand management: Process, People, intellectual Property, and Partnerships.
- Approached as a business system, the brand can be managed and measured as an asset. But, as with any valuable asset, the management of a brand requires the perspective and participation of the entire organization, from accounting to distribution to customer service. It should not reside solely within marketing departments.
- All of the above can be applied or destroyed quickly if senior management of a company — the C-suite — don’t share the perspective of what a brand really is: an asset.