Reading through this thread I've noticed people interchangeably using product, marketing and branding. They are very different (but interconnected) things and using them interchangeably is confusing.
Wilson Audio manufacturers a product (their speakers)
Wilson Audio communicates to their potential customers (marketing) and their customers communicate back to Wilson (marketing research)
Definining the Wilson Audio brand is more difficult and elusive because Wilson doesn't own the brand. To quote at length from Jerry Bullmore's brilliant lecture "Posh Spice & Persil" (It's a short read but highly recommended. Just do a Google search. After reading it, you'll know more about brands than most CEOs. His books are also highly recommended.)
"Tiresome though it may be to accept, the same is true for brands. The most valuable part of a brand … the added value bit … the bit that protects respectable margins and fills up the reservoir of future cashflow …the bit that distinguishes a brand from a mere product… doesn’t belong to it. It belongs to its public. And for those who are loyal to brands, this sense of ownership, of possession, is strong and often overtly recognised."
Wilson Audio manufacturers a product (their speakers)
Wilson Audio communicates to their potential customers (marketing) and their customers communicate back to Wilson (marketing research)
Definining the Wilson Audio brand is more difficult and elusive because Wilson doesn't own the brand. To quote at length from Jerry Bullmore's brilliant lecture "Posh Spice & Persil" (It's a short read but highly recommended. Just do a Google search. After reading it, you'll know more about brands than most CEOs. His books are also highly recommended.)
"Tiresome though it may be to accept, the same is true for brands. The most valuable part of a brand … the added value bit … the bit that protects respectable margins and fills up the reservoir of future cashflow …the bit that distinguishes a brand from a mere product… doesn’t belong to it. It belongs to its public. And for those who are loyal to brands, this sense of ownership, of possession, is strong and often overtly recognised."
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