Q&A Toyota vs. Geo story It ’s one of many perfect examples to explain why brand development and marketing are two completely separate functions.
I wanted to share this quote with you as it comes directly from the thoughts of John Stuart, the former CEO of Quaker Oats, and he ’s emphasizing how much value he places in the Quaker brand.
Forbes has actually documented that 75% of a companies value is found in the brand. Brand value is the reason Apple commands a premium price for its computer. If McDonalds were to open a new chain of restaurants under a different name serving identical food, not kids would want her birthday party there And if BMW ripped the logo off its cars, they could never get away with charging $43,000 for a small entry-level sedan
So here is the way we will
I know that metrics will be very important for you. A strong brand enables you to charge a price premium, and customers are less likely to consider alternatives. Strong brands earn you a premium spot in your customers minds when they are ready to make a purchase. When I was researching different DSLR camera ’s, the only two brands I considered were Nikon and SONY, But I bought a Canon because that’s the choice of most professionals. That’s conversion. When people have brand preference, they are least likely to consider alternatives.
I know that metrics will be very important for you. A strong brand enables you to charge a price premium, and customers are less likely to consider alternatives. Strong brands earn you a premium spot in your customers minds when they are ready to make a purchase. When I was researching different DSLR camera ’s, the only two brands I considered were Nikon and SONY, But I bought a Canon because that’s the choice of most professionals. That’s conversion. When people have brand preference, they are least likely to consider alternatives.
