This is the final post in my three-part series. So far we have identified a need for inclusive language that incorporates what is important in marketing today. The closest we have come to forming a basis for marketing’s identity is branding. However, today I would like to go beyond just brands, towards a more strategic approach to marketing.
Historically, a ‘brand’ referred to the unique mark on cattle that identified its owner. The modern day sense of the word incorporates a name, symbol, sign or an identity. Most businesses today continue to use this word despite being aware of the baggage that it brings along.
There already is a better way to think about branding; in terms of communities and conversations - and brand managers get that. What is missing then is a shift in the language we use when we talk about marketing.
Brands are not the most important aspect of marketing. They exist in a world much bigger than themselves; their identity is a bubbly and ever-changing mixture of conversations, perceptions, attitudes and substitutes. Talking about ‘brands’ implies that as marketers our identities and those of products can be created. However we also understand that identity is shared and co-created in a competitive context.
What is important in marketing is strategy, specifically the strategic love triangle: the company, its customers and competitors. Marketers must perform a balancing act between customer advocacy and corporate interest keeping within a competitive environment.
We know what is important now, what we need are the right constructs to measure for success. Stay tuned!
SK
(Source: valuebasedmanagement.net)
