Death of the Brand Era??
I heard a brilliant interview on the CMO Podcast on which the guest, NYU Stern School of Business clinical professor Scott Galloway said that the sun is setting on the “brand-era”. What-the-whaaaat???
His premise is that the time between World War 2 and Google was the golden era of brand because that is when companies could add huge amounts of value by building “brands” around normal products. Think, “Choosy moms choose Jif”. Not very amazing peanut butter, with a VERY disproportionate market share because of brand connection. Now, Galloway proposes, companies add the most value through monopolizing an entire lane of someones life. Think Amazon, Netflix, etc.
While I agree with the premise of large companies losing the brand edge, I couldn’t DISAGREE MORE with the presentation that the brand-era is passing. It’s just the opposite. The large companies used to control the money, talent, and distribution channels to build brand and have now lost their monopoly. Now, small and midsized companies and even individuals have the availability of knowledge, tools, and marketing channels to build amazing brands…and all of us are benefiting from it.
Better branding makes the world better.
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