Powerful brands don't happen by accident. They are the result of deliberate company action most startups are not aware of. Startups often have the vision of being the next Uber, Airbnb, Nike, Apple, Harley Davidson, or the NFL -- powerful brands that have strong customer loyalty. Further, using or being part of the brand becomes part of a customer's social status.
In this episode of #DreamitLive, we'll talk with Dr. Americus Reed II, a leading marketing professor and practitioner at The Wharton School. Americus focuses on studying, building, and nurturing some of the most powerful brands in the world.
Table of Contents:
6:15 What is brand identity?
7:00 What are some examples of brand identity?
9:00 Defending a brand you identify with
11:20 Branding is not by chance. Branding is a strategy.
13:00 How do you build a strong brand?
16:00 How you can get consumers to pay a higher price for two identical products with a strong brand
17:30 Branding is not rational
19:00 What are the deliberate actions your company can take to build a brand?
23:00 How to understand your customers
27:00 Using social listening to understand customers in their natural environment
29:00 Elon Musk and the power of vision in brand building
30:45 Peloton’s Experience Building Brand
46:00 How to build a brand for a B2B startup?
51:00 Can you fake it till you make it when you build a brand?
52:30 Can you pivot or iterate on your brand?
52:30 Will Peloton’s controversial ad help or hurt it in the long run?
55:00 How to allocate your marketing resources for building a brand?