Subject Summary: Marketing now, for the first time, actually has a chance to be something far more than an imposition into peoples’ lives. In today’s business world, transient high performance is commonplace; it is sustained performance by companies that have power, resonant and resilient ideas that stand apart.
Betwixt of the global pandemic of COVID-19, the clear definition of a sudden change in the environment has proved to be adverse. It has demonstrated its fragility in the face of an unprecedented catastrophe. Extended global supply chains have broken down. Economic activity has been massively disrupted, and inequalities and social tensions have been exacerbated. Unlikely this catastrophe offers a good model for explaining antifragility in business terms. There are many reasons why brands need ideas that are powerful, resonant, and resilient. Let us first grasp some knowledge about the three key terminologies.
- Powerful ideas: are those which immediately gather the consumer’s attention for the product and convince them to give it a try for sure. Powerful ideas emphasize using new ways of thinking. They can be content-specific, "expressed as "knowing-that" or propositional knowledge with a discipline".
- Resonant ideas: are those which are deep and clear in meaning. Akin to this concept, a resonant idea for a business is the one which inks a cavernous impact on a person and further he/she tends to amplify your idea to a larger audience. Such an aspect of an idea plays an important role in the just success of a brand.
- Resilient ideas: are those which are pliable like the business environment. In simpler terms, resilience is the ability to deal with setbacks. Resilient ideas help the brand to know how to adapt to change and reversals of fortune. Resilience is especially important today because the business environment is becoming more dynamic and unpredictable.
Marketing is often called "brand building." Consumers can't buy brands. Consumers buy products with brand names attached.
Consider Nokia, a company that dominated the cellphone market with its Nokia brand name. What did Nokia do when the market shifted from cell phones to smartphones? It did what most companies do. Nokia tried to use its cellphone brand name on its smartphones -- with disastrous results. That's not what Apple did. When the computer market shifted from the home to the office, it didn't use the Apple name. It called its office computers "Macintosh." When Apple decided to get into the smartphone business, it again didn't use the Apple name. It called its smartphone "iPhone." Every major global smartphone competitor used their existing brand names: BlackBerry, HTC, Huawei, Lenovo, LG, Motorola, Nokia, Samsung, Sony, and Xiaomi.
“Marketing is the cost one has to pay when one’s product is inferior.” Technology or product innovation cannot sustain a company unless paired with marketing. No brand lasts forever. Times change and companies need to be in tune with the times. What brands need is a visual that reinforces their verbal positioning concept.
The era of the single-brand company is over. In the future, global companies will have multiple brands. Companies like Apple, Procter & Gamble, Coca-Cola, Unilever, Nestlé, and many others.
Well known brands in their marketing journey:
Author: Roovi Singh
Description: Budding blogger in the discipline of writing in discrete areas of literary studies based on research and analysis. Lifting the curtains to discover the ropes of artistic writing. When I'm not writing, I love to indulge in reading, crafting, and painting.