Some years ago a tractor manufacturer decided to stop making tractors in England and move their production to South America because it was cheaper. What followed was a little weird. Those third world countries who bought the tractors because they were made in England realised they could build tractors every bit as well as people in South America. So they turned up in the UK, bought all the redundant tractor-making machinery, went back to where they had come from and built their own tractors. But why?
Some years ago Mercedes got mixed up with Chrysler - 9 crazy years during which Mercedes quality took a dive. But they still sold cars and the good times continued to roll. But why?
People can either buy water out of the tap for a fraction of a penny or they can buy it in a fancy bottle for obscene amounts - and they do. But why?
You can buy your legal advice from a magic or silver circle firm for a kings ransom or you can hire lawyers who used to work there but now work for a mid-tier firm for a fraction of the price but we don't. But why?
The answer to all of the above is BRAND. Brand causes people to pay over the odds, buy from one supplier over another or help you through a rough patch.
A brand is like a house: protects you from the elements, keeps you warm and safe and all you need to do is look after it and repair it if it breaks. Outside its dark and cold and raining and there are wolves. And they have sharp teeth.
So there you have it. The 10 most important assets you or your organisation can ever own are: -
Build it. Promote it. Protect it.
Image courtesy of Stuart Miles / FreeDigitalPhotos.net
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