How Smart Brands Make More Money
Why do consumers pay a premium price for a brand? They do so because they find the brand to be meaningfully different from the alternatives. Whether that meaning is rooted in a functional performance or an emotional connection people are willing to pay more for brands that offer meaning and stand out from the crowd. In his new book Brand Premium: How Smart Brands Make More Money, Hollis shares the importance for marketers to identify a brand’s meaningful difference and focus on amplifying that meaningfully different brand experience for the consumer.
A lack of meaning is creating a market full of commodities rather than products and brands that instill strong loyalty. Loyalty equals repeat business and is the key to long-term success. Building consumer loyalty requires focusing on meaningful differentiation: functional, emotional, or societal.
Based on two key Millward Brown frameworks, Meaningfully Different and ValueDrivers, Hollis takes the reader through the four components of a meaningfully different brand experience:
Throughout the book, the unique ValueDrivers Framework is applied to two very different brand models: Premium Priced and Value Priced. Using examples of leading brands like Dyson, Johnnie Walker, IKEA, Volkswagen and more, Hollis shows marketers how to Amplify what a brand stands for across all brand touch points including: Findability, Credibility, Vitality, Affordability, and Extendibility.