The marketing series. 3, The power of the brand

2014

Computer Files, Websites

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Summary

All marketing starts with a product. But beyond the product is the brand. Vast sums are spent in creating and maintaining brands. But what is a brand? And why do some brands succeed and some fail? Successes: Brands speak to people in a way that products don't - they have a personality, a style. One of the big brand success story is Innocent Drinks. In just 10 years Innocent's sales went from nothing to over 100 million. Meanwhile Coca-Cola has used its brand to conquer the world - despite its product being little different from the competition. But the UK has its own long-lasting brands, too - like Cadbury's. What's the secret of their success? Survivors: John Lewis is a good example of how brands can survive - it's a question of keeping true to their core values. But as companies getting bigger, this gets harder. And is there a danger in losing sight of the importance of simply having a good product? Brands can be damaged, too. Did Innocent damage its brand when it sold part of its ownership to Coca-Cola? And what about the spectacular problems of Ratners, BP and Toyota? Some brands go on and on however bad their media coverage - like Coca-Cola. The big lie: Companies like Divine Chocolate have found success through its ethical fair trade image. But ethics are often more about image than reality. Can companies like oil giant BP really claim to be green? And are brands deceiving us in a more profound way - making us believe we're inadequate without them? Psychologist Oliver James believes they're literally driving us mad.