What is a Brand? (In 60 seconds)

The word “brand” means many things to many people. In business, it is just as it sounds: it is the lasting impression businesses leave behind.

There are basically two types of brands:

1. Brands we can touch. (Goods)

2. Brands we experience. (Services)

Peter Drucker said the purpose of a business is to create a customer, which leaves us with two basic functions:

1. Marketing.

2. Innovation.

We market to two types of customers:

1. People. (Consumers)

2. Organizations. (Business-to-Business)

We innovate in order to “have and to hold” customers, which often require:

1. Glue. (Creating a sticky external layer)

2. Magnets. (Connecting from the inside)

People often see brands differently:

1. Brands that give back.

2. Brands that take.

The people behind these brands conscientiously choose to brand in one of two worlds:

1. The world they choose to see.

2. The world as it really is.

So, knowing this ... does your brand leave the world better than you found it, or not?