Your brand is about intangible perceptions—how people feel about your products, services or business. Similarly, what people experience when they interact with your brand. Most importantly, you want to create powerful brand differentiation that helps you stand out from the pack.
For instance, you can use the power of brand differentiation build a strong, bullet-proof brand. As a result, you prevent your brand from becoming a generic commodity such as kitty litter, cornflakes or catsup.
“Your brand is what other people say about you when you are not in the room.”
⏤ Jeff Bezos
“A brand is not a product or a premise. It’s the sum of all the experiences you have with a company.”
⏤ Amir Kassaei
Perception is in the eye of the beholder. Some see them, some don’t. However, when people don’t perceive any intangible value, it’s a commodity to them. You're as good as generic kitty litter or catsup in their eyes.
A commodity is a product, service, cause or organization with NO perceived intangible benefits or attributes. On Wall Street, commodities of the same type are interchangeable with each other. Therefore, If you are a commodity, you are stuck in a no-win price competition.
Catsup (ketchup) is catsup, right? The stuff you squirt on hamburgers, hotdogs and French fries. You say "toe-may-toe," I say "toe-mah-toe." you make catsup by smashing tomatoes up into a tangy sauce and put into a bottle. Brands range from the generic to exotic. People who don't care about their tomato catsup (ketchup) brand will buy the generic, cheap stuff found on the big food chain shelves.
In contrast, catsup (ketchup) connoisseurs (aka "food snobs") will go out of their way to discover exotic flavors and brands, including Harry and David and classic Sir Kensington. As a result, in the minds of the buyers of these prized gourmet brands, they are most certainly not interchangeable commodities. This is a vastly different mindset from the regular folks who buy generic brands.
All these brands have their place in the market. Who do you think is able to charge more for their product? Who gets more social media buzz and loyal customers?
"Almost as American as apple pie"
Market Pantry™ promises freshness and quality always at a great value. The essential condiment for barbecues and picnics.
"America's Favorite Ketchup"
Heinz updates its classic with organic tomatoes, no high-fructose corn syrup for a well-balanced version that appeals to the organic food crowd.
Harry & David appeal to people looking for thoughtful, gourmet food gifts that reflect well on the giver.
Sir Kensington's was designed to appeal to people who wanted a tasty, non-GMO ketchup on their grass-fed burger with their farm-to-table side.
1. BRANDS COMPETE ON THEIR INTANGIBLE ATTRIBUTES.
2. COMMODITIES COMPETE ON PRICE OR CONVENIENCE.
3. YOU DO NOT WANT TO BE VIEWED AS AN EASILY REPLACEABLE COMMODITY.
In conclusion, all these brands have a legitimate place and purpose in the condiment market. The lesson here is that if you do not want to be viewed as a generic, commodity product or service who can only compete on pricing, you need to build strong brand differentiation to survive. Take a cue from Sir Kensington and figure out what's in your "secret sauce" that will make you irresistible to your customers and prospects!
For those of you who are into the classic red stuff and love a good food fight, read the Epicurious "tell all" blog post for the insider scoop on which brand makes the best catsup (ketchup).
Next week: Part 3. Guess what? You already have a brand, whether you know it or not! I will show you how to identify your brand essence and start to put your secret sauce to work.
Until then, feel free to do your homework. Download the presentation now!
This series of blog posts is based on a branding masterclass workshop from last fall. The topic is evergreen, based on the number of brand-related questions my partner Robynne Davis and I field every week in our marketing meetups. This series is designed to bring all of these important elements into alignment with your authentic brand: