Every company is a brand, even if it doesn’t do any outright branding activity,” write brothers Philip and Milton Kotler in their new book, “Market Your Way To Growth: 8 Ways To Win” (John Wiley & Sons, 2013).
“The sheer fact that the company exists and engages in buying and selling creates an image in the minds of everyone who hears about or does business with the company. The only question is whether the company is satisfied with its brand image — or would like to manage it better. A company undertakes conscious branding when it wants to establish a certain reputation — one that has power and consistency in the marketplace.”
The Kotlers have packed a lot of marketing prestige into one surname. Philip is professor of international marketing at Northwestern University’s Kellogg School of Management and a household name to marketers worldwide. Milton has more than 40 years of marketing experience himself, and is president of the Kotler Marketing Group, a Washington, D.C.–based global consulting firm that also recognized as the top marketing strategy consultancy in China.
In “Market Your Way To Growth” they explain that a strong brand helps a company grow in three specific ways. First, those companies can charge a higher price. Secondly, a company with a strong name has an easier time getting into distribution channels. Third, once the brand gains trust and respect, companies can put the same brand name on — and then launch — more new products. “Because it’s easier to launch new products under the same name, the company can achieve much faster market penetration,” the authors state.
Can everything be branded?
Everything can be branded. More importantly, the Kotlers stress, everything can potentially benefit from a conscious branding effort.
The original concept of “branding,” that is, putting your mark on your cattle, is pertinent still today. Part of branding is certainly in the name. But there is much more to it than that. At the very least, the Kotlers argue, branding includes name, logo and slogan.
The marketing group defines the brand’s identity. However, building the brand is not just the marketing department’s job. It is the whole company’s responsibility.
