Chapter 1
What Is Branding Really About?
A Classic, Ubiquitous Misunderstanding of “Branding”
Branding is hot. You cannot read a newspaper, magazine, or blog these days without coming across some reference to “branding.” Branding has indeed become a universal benchmark for something noteworthy or successful. This recognition is certainly warranted. Research from McKinsey & Company supports the importance of good branding, finding that companies with strong brands achieve returns 1.9 times higher than their industry average.
Everyone seems to want to enhance their “brand,” do more “branding,” or simply “re-brand” these days. However, these terms are usually misused because managers don’t really understand the basic concept of “branding.” As a ...
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