Management guru Peter Drucker wisely noted, “satisfaction, quality and service is not what you put into it. It’s what the customer gets out of it.”
Businesses need to be sure their brands actually stand for something significant in the minds of the consumer. Awareness—as a meaningful market force—has long been obsolete. Differentiation and Value are more critical than ever for success!
As business owners find their way to the new consumer in the new marketplace, no one would even begin to call it easy out there as organizations struggle to stay afloat with tighter credit, excess inventory, and often more salespeople on the floor than customers, accompanied by a distinct lack of service and deliveries that are late, misaddressed, or forgotten.
But the reaction to cut back on what pleases the customer, and think it goes unregistered, is so misguided an approach it deserves comment — especially because research data shows that every year it is the shopping experience that continues to drive what value in a brand is really all about.
Price (or even paying a bit more) is not the central issue. It never was. It isn’t now. If price were all that mattered, we would all be driving Hyundais. Value is what matters — it now matters more than ever as a new consumer consciousness, born of this year’s hard lessons, takes the helm. Diminishing your customer’s experience won’t make it easier, though it will eventually make the problem go away entirely — along with the customer.
Next up—Engagement. It’s not a fad, it’s the new imperative.
At its most basic level, a brand is made up of all the marketing elements that can be trademarked– logos, symbols, slogans, packaging, signage, and so on. Strong brands mix and match these elements to perform a number of brand-related functions, such as enhancing or reinforcing consumer awareness of the brand or its image and helping to protect the brand both competitively and legally.
