Видео

Anatomy of a mission statement: Verb (Present) Commitment (What we do) Who The benefit of the commitment STEP BY STEP: 1. Start with a verb - An action word that will drive action and it has to be NOW. Formulate a present tense so it drives the action now. 2. Define the commitment - What will the brand actually do? 3. Include who you're for - Be specific about who target, whether it's the target audience or the broader world. 4. Describe the benefit - What's the outcome of the commitment/what will happen if you deliver it. EXAMPLE: "To connect the world's professionals to make them more productive and successful." Verb = Connect Commitment = Connect world professionals Who = World professionals Benefit = more productive and successful

8 Types Of Branding For Your Brand Strategy (+ Examples) 1. Personal branding - Managing your OWN reputation, developing your name in the market, and shaping the perception of what your target market thinks about you. Positioning 2. Corporate branding - This is about shaping the reputation of the brand, promoting the name instead of its product or service, through an idea and through what it stands for. 3. Product branding - Focuses on promoting the product and is often seen within the umbrella branding strategy. 4. Service branding - Focuses on promoting the service you provide, and can be useful if you have many services. 5. Co-branding - Two brands with the same audience and segment that are not competitors, leveraging from each other through partnership. 6. Umbrella branding - Sub-brands leveraging from the brand equity of the parent brand sitting on top, covering them. Works well if you have many brands to consider within a structure. 7. Purposeful branding - Engages in activities that go beyond the transactional nature of their existence. This means helping to solve a cause or a problem within the beliefs of their audience. Not only should they use those beliefs to connect with the audience, but also just assist in giving the solution that affect the environment as a whole. 8. Employer branding - Focuses on branding internally, they want to show the target market and attract the brightest talents in the market to come and work for them. With this, they show an interest in the dreams and desires of their employees as well as assurance that they won't have to experience their fears.

Would anyone in the comments be open to creating training for our brand new course in relation to branding and marketing?

Heyy man how are you doing? 😊 We are releasing a brand new online course and we would love to have a chat with you. We are looking for more training inside our course in relation to marketing & branding. Each coach inside our course gets huge exposure to all clients and a lot more … Would you be open for a further chat 🙌? Thank you Youi

Great content much appreciated 🙏🏻❤️

I always wanted to start a vlog about the daily life of sales and marketing.. still dont know how and when to start 😞

2:06 Woah 🤯

6 Powerful Pricing Strategies (For Your Consulting Business) 1. Hourly rate - It's not effective due to the ceiling of what you can earn. If you are good enough to finish it quickly, you're punishing yourself instead of rewarding. But if you want the transparency and cleanliness, then use it. But you won't be able to break that ceiling because you only have so many hours in a day, so you won't earn much and grow your business. 2. Daily rate - Here, you're selling in blocks, so you have a minimum time spent to get paid. But it's not good, as the same reason for the hourly rate. 3. Retainers - It's setting an offer to your client for a set amount of hours per week or per month. You don't have to work every single time of every day for those given time but they'll need you when they need for those time. So you have consistent paydays for months or weeks, which is good for stability. 4. Value-based project - Determine the value of the work that you do to the client. Including the monetary value. 5. Profit based project - You'll have a fixed cost (Including everything you need to accomplish the job, like people involved, rent, materials, etc.) to the profit that the client will earn. Add your profit margin to it. Making it simple and comfortable for you depending on the profit. 6. ROI Pricing - The consultant will make a percentage of the profits the client will make on their work. These must be trackable and easy to identify profitability. The consultant will set up the pricing structure with the contracts by incentives with reduced rates for the deliverables of the work in the hope that the brand will go on to make a healthy profit and the consultant will be able to share in that profit. Answer the quetions: How are you going to structure your services? How is that going to align with the goals that you have with the business you want to build? With how you want to grow and scale? So really think about what you want to build, the clients you want to attract, the relationship you want to have and make a decision about your pricing strategy.

Cost vs Price vs Value [Pricing Creativity & Strategy] The cost of your product or service is the amount you spend to produce it. price is your financial reward for providing the product or service. value is what your customer believes the product or service is worth to them. Cost - When someone asks about the price of your service, they're actually asking what's the cost to them. But the response of the designer's cost is based on their cost instead. So they don't take anything into consideration other than what's gonna cost that actual designer. Consider other outgoings (Labor, software, hardware, rent, etc.) that contribute to how much it actually costs the designer to produce the work and not only the time and labor it will take. Price - Cost is how much the job is going to cost you, while the price is how much you're going to charge, but the difference is the profit earned. It must include the profit you'll get. So if you put out your price at the cost of production, you won't make it so instead, include how much you'll get with the service you provide. The percentage of your profit margin will depend on the individual business but expect risk. So determine what your profit margin should be and what risk you're going to assume within that profit. Value - Determine your price, base that on costs and profit, and set the price, but the clients will determine its value. Do your best to influence that determining factor. So to do just that, educate them about the value of branding and its importance. Think about the value they see within your services and influence that through education not just performance.

How To Create A Premium Pricing Strategy (To Build A Prestige Brand) When you should use it: 1. Disassociation - Saturated markets with budget options that ignore market segments who don't want bottom drawer prices. Position on this segment who can buy your price and are looking for a better option. So higher prices disassociate from these budget options and depositions the brand from competitors. 2. Luxury association - Brands that aim for a perception of a sense of prestige leverage higher premium pricing compared to competitors. 3. First mover advantage - An early intro of a new product or approach can set the benchmark with premium pricing in that category. There are no lower priced options putting the brand in a position of power. 4. Exclusivity - A brand with limited production can set a premium price for exclusivity 5. Patented process - Brands with this can set high premium prices without the fear of being undercut by a similar offer. 6. High barrier of entry - When a business has access to extensive funds, they have an opportunity to create products with high quality that competitors will struggle to compete with. The cost is passed on to the consumer though a premium margin is also expected. 7. Unique experience - Where brands offer a distinct unique experience from their competitors a premium pricing strategy should be considered. HOW TO ESTABLISH PREMIUM PRICING 1. Align value with price - If you want to present premium pricing to your product or service, it better be align with the performance of it and if it can truly help the consumers. Justify their money spent. 2. Premium visual identity - Upon knowing who your customers are, the design of your brand is about what they want and will be attracted to. However, YOUR identity communicates the right message. 3. Unique user experience - The path for customers to be a customer in this strategy is longer than usual, in every touch point must provide a good experience. Be consistent unique and in line with them. 4. Tailored brand messaging - Prestige positioning must be specific, requiring finesse and delicacy. Speak to the personality, class, and desires of the audience. 5. Create exclusivity - Customers not only expect great design and experience with the strategy but also the factor of social status comes into play. 6. Leverage brand attributes - Prestige brands must communicate to their audience that they are the brand to see themselves in or/and aspire to be. Communicate it through visual identity, messaging, storytelling, and experience must be align with the aspirations of the target audience. 7. Avoid promotions - Premium strategy cannot be dropped and picked up again for another day. If the target audience is after quality and exclusivity, then you drop that exclusivity by dropping the price promotions after promotions. It erodes the prestige associations that you build up and over time that erosion becomes irreversible.

What Is Premium Pricing Strategy? (Pros, Cons & Best Examples) Premium pricing is a pricing strategy used by businesses and brands to elevate the perception of the brand and increase their profit margins by pricing their products higher than the competition. This can be used to be perceived as a quality brand. Making them feel excitement, peace of mind, and a sense of elevated status. PROS: Higher profit margins - The higher the price, the higher the profit margins, the more the business strives. Enhanced brand perception - This perception of superior quality, encourages consumers to buy even more. If backed up, can transform into a reputation. Enhanced competitive advantage - If you're perceived as the better quality due to your higher price compared to competitors, they'd look at other options as lower. So, therefore, they would be tempted to choose you. This results in the competitors being pressured to increase theirs which in turn might be bad for them instead, as well as giving you the flexibility for decision-making. CONS: Higher marketing costs - Expensive to generate awareness, etc. Smaller target segment - You won't have a broader reach and most or hopefully only some of them won't be able to purchase your products or services. Open for undercutting - Someone with the same or similar product can undercut yours or take an aggressive position or strategy against it. Putting you under pressure.

8 Types Of Price Segmentation (Top Examples) PROS: Increased revenue and profit Increased reach and market share Flexibility for differentiated marketing Broader appeal and growth potential CONS: Avoidance and dilution - Market finds a way around it Inequality and distrust - Your previous consumers or consumers in general might feel mistreated and unfairly have to pay for a much bigger price leading to distrust. Internal confusion - Less clarity in your offer leading to a bad experience. TYPES: 1. Bundle pricing - Allows for adjustment to fit the segment: Removing or adding something to appeal to the specific target market but the core offer and value doesn't change much. 2. Value-based pricing - Based on the value of the product or service to the consumers or the client. 3. Channel pricing - The circumstances of the location or channel change the price. 4. Location pricing - Depends on where you are as it's used to more accurately reflect the costs of doing business in a certain area or to align better with the price sensitivities there. 5. Time period pricing - Depends on the season or month, it's how busy it is, the higher the price. 6. Purchase time pricing - Depends on the season or month of that compliments the product or service. 7. Volume pricing - The larger the volume bought, the lower the pay. 8. Condition pricing - Risk reduction allows them to offer certain prices to make the consumers feel safe before paying.

What Is Price Segmentation? (Modern Brand Example) Often, we get charged no based on the value of the product or service but based on who we are and what we're prepared to pay. So businesses may charce others less for the same solution because of their circumstances or attitudes and this is price segmentation in action. Charging different prices to different segments for the same or similar products or services. Even though we can have broader segment reaches, the pricing of those solutions disregards some of those market segments and this means that because of their rigid pricing strategy, resulting in a hindered growth opportunity. 1. SEGMENT YOUR MARKET - Know and understand what your busness does and who's your target market. And within, find different segments. 2. Detail your segments - Know their fears, challenges, dreams, and desires, then formulate a strategy with touchpoints that targets these. 3. Define your offers - As your solution won't change much and the message is almost the same, the difference will be that you'll be identifying which segment it is and who are you offering to. You must match an offer to meet that segment, adjustment is needed in a way you'll need to add or remove elements and offers.

6 Promotional Pricing Examples & Types (For Discounts & Sales) Promotional pricing is a strategy used by brands that want to drive short-term sales. They do this by temporarily reducing the price of products or services to entice customers to buy before the offer expires, often through integrated marketing campaigns. PSYCHOLOGY OF PRICE PROMOTIONS Value perception Price perception Brand perception Promotion expectations and promotion expectation Brand loyalty FOMO Gratification of purchase success. 1. Sale price - Sale offering a by dollar value or sale by percentage of value. EX: Even tho it mostly affects them subconsciously, it still impacts many things like 25% OFF OR 25 DOLLARS OFF. It's relative to the original price. 2. 2 for 1 - Having a second item for the original price or be used as an entertainment value with two tickets at a price of one. 3. Bulk buy promotion - Purchasing higher volumes to reduce the average cost: 3 for the price of 4 or 50% off the second item. 4. Flash sales and limited numbers - Encourage urgency and scarcity by using limited-time or product sales. Promotes community exclusivity and incentivizes non members to join in. 5. Loyalty incentive - Offers an exclusive offer only available to them as a reward for their loyalty. 6. Seasonal promotion - Deep discounts for a certain period of time. FIND THE RIGHT TIMING FOR A SALE TO PREVENT THEM GETTING USED TO IT, ONLY USE SALES AND DISCOUNTS IN A WAY BRAND EQUITY WILL STILL BE ATTACHED AND BOOST PROFIT.

How To Charge More For Branding [5 Actionable Techniques] 1. Differentiate - Position yourself as different, be as unique as possible, and change how you do things into who YOU are. This way clients will realize that you're worth the price. 2. Ask questions strategically - Ask them questions that will give them epiphany and second guess competitors in a way they'll realize they need more than simple logos or graphics. With this, you'll be perceived as an expert. 3. Listen intently and display empathy - Ask more, speak less. Listen actively and show that you really understand them, through note-taking, encouragement, and summarization. Give them the opportunity to express themselves and be empathetic to what they're saying. 4. Display expertise and authority - After gathering information, give them value, and the opportunities they have, and educate them about strategies they can use that can lead to achieving what they want and need. Explain how they can go from A-B. 5. Show successes - Request testimonies from successful achievements as proof that you can lead anyone to their dreams and desires. This will make people trust you even more and influence others to try you out.

How To Price Your Branding & Marketing Services: You are being paid for the results. Your time is your valuable asset, and if by this, what you can earn is limited to how much you can charge for your time. Mentally selling your time is the same, base your price on the time YOU will take. Mindset shift: You are paid through results, not the time you take. Ask yourself what end result you are selling: Is it for visibility, clarity, or awareness? PRICING: Profit-based pricing - The cost to deliver what you're promising to the client + Your margin = Earning. Value-based pricing - How much the work is valued and how important it is to the client and its monetary value result, then add your percentage of the supposed monetary value and base your earnings on that. PS: Get out of the hourly mindset, focus on the outcome, and how you can scale as you do it.

1. Be where your audiences engage - They are not everywhere and you shouldn't be everywhere. Commit to the platform they are at and be consistent with it. 2. Speak to emotions, not logic - Their buying decision is not based on logic most of the time, but to emotions, especially in our subconscious. Know the challenges and desires they are experiencing, and formulate your strategy about it. 3. Don’t be that guy (Taker) - Stop talking about yourself or your business, you should talk about your audiences instead. Understand them and give them value instead. Don’t focus on ads and just keep on asking them to buy. 4. Get follow-up activity - Before influencing them, be wary that you’d have to keep being consistent and it takes a LOT of touchpoints to do so. So be patient. 5. Give them a win - Show you understand their challenges and give the solutions, not just for huge ones, but micros as well. Assist them through small ones too. 6. Funnel the journey - Be in their shoes and map out the journey they'll take to be a customer. Make it an easy progress for them step by step through your guidance. Be consistent throughout all touch points.

Cheer~~~~a type of product manufactured by a particular company under a particular name.😊

Very creative way to explain this!!

Hiya Stephen, great video with relevant examples that makes complete sense in relation to brand positioning. Your video came in quite handy, definitely needed this refresher. I am a strategic planner and I am currently working on a client brief to launch a new digital wallet/mobile financial service (MFS). The product category is currently in a stage of maturity where consumers have necessary knowledge and awareness about similar products. The product aims to offer 1 or 2 differentiating features compared to its competitors, although I don't feel it's compelling enough to create a brand positioning based on that. Based on the information above, how do you think a "me too" brand should position themselves in a market that has reached its maturity? What would be your suggestion/s with positioning this new brand? Would love to hear your thoughts on this. Cheers ✌🏼

U are becoming one of my favs

Nice video, and great insight. Is there something wrong with the free archetype pdf link? It doesn't work for me.

This was the video I needed. Thank you 🙏

WHAT IS CO BRANDING? The strategy used by 2 or more brands to collaborate on a shared venture. This shared venture may be the creation of a new product or promotion of an event, but ultimately both brands here are looking to leverage the equity, the reputation, and the audience of the other brand. Coming together and aligning each other through shared values, interests, and audiences. Leading to an increase of: Market share Reputation Exposure Sales WHY USE IT? Through leveraging each other's reputation and equity, this enhances the chances of success. It provides a bigger boost for both brands in terms of profit and brand awareness. WHAT ARE THE BENEFITS OF CO BRANDING? As already mentioned, it improves: Reputation Credibility Reach Exposure Minimizes the use of more marketing budget Allows premium pricing COMMON TYPES OF CO-BRANDING Component co-branding - combining products to create a new one. Sponsorship co-branding - Sharing audiences with a shared interest. Tandem co-branding - Complimentary products promote the use of those products together.

WHAT IS A GTM? It's a detailed action plan created to position your offering for market launch. It's a roadmap on how to reach the target audience with your product or service which should highlight your competitive advantage and it's all about your positioning strategy. Like why you are different, and why should they choose you out of your competitors, and then roll that out across your marketing channels. Short term goal. WHEN TO CREATE A GTM? When you're ready to go to the market, that's when you need to create your strategy. Either when you're ready to engage with a new product, new service, or going to the market for the very first time with a new brand. So it's when you're ready to introduce something new. Provides clarity and meaning. And what's the value of what's being introduced. Employ it to the right market and channel. Leveraging scalable marketing models that will help them achieve the right type of engagement with the right customers, that ultimately increase profit and market share. BENEFITS OF A GTM This prepares them to properly engage with the market with a fully thought-out plan instead of just employing simple logos and posting content, meaning they have a good timeline of what to do and what not to do, decreasing their chances of failure and preemptive challenges. Also, a GTM results in a clarified direction into that connection with the target audience and enticing them to be at the top of their mind in their buying decision. 1. Inbound - Attracts people who are looking for your solutions with the right content and the right time. These are: Content marketing Blogs SEO 2. Outbound - These are ads, TV's, digital channels that offer direct response, etc. It requires a budget to connect with the target market faster and certain. 3. Sales - 4. Account-based marketing strategy - 5. Demand generation -

This is really good 👍

You cannot market online if your accounts keep on being hacked.

For brands that have a clear negative aura (etc Ruler and Outlaw), how do you determine when their brand communication has crossed lines that may negatively impact the brand's image? How would you convince me to come, let alone stay, despite your brand's "red flags"?🙃

WHAT IS BRAND STRATEGY? Brand strategy is not just logos, but it answers the questions: Why are we here? Who are we here for? What are we committed to? How are we different? Why should they care? Looks will only get you so far, but if you don't have a proper strategy, they'll go elsewhere instead. WHY USE A BRAND STRATEGY? Consumers don't buy through logic, but they buy when they feel understood. A clear strategy will help determine their deisres and pain points, to then, you'll be able to incorporate their needs and personality into your strategy, in order to attract them. "A brand is not what you say it is, it's what they say it is." WHAT DOES A BRAND STRATEGIST DO? They devise a plan of brand expression what will ultimately help to shape the perceptions in the mind of the intended audience and those perceptions will be what brand and the business means to them and the experience it offers. If it succeeds, they'll feel an attachment that they wouldn't feel without a perfectly placed strategy. DELIVERABLES: Logo Image style Graphics Illustrations Brand style guide Digital assets Brochure Website Business cards Environmental design THE STRATEGY SHOULD INCLUDE: Detaild audience's persona Competitive analysis Differentiaion and positioning strategy Human brand persona and personality Brand voice and brand message Communication framework Brand storytelling framework Marketing strategy WHY IS IT IMPORTANT? All businesses benefit from having a well-thought-out branding strategy that conveys the right message to their target audience and sets them apart from competitors. 1. Uncover brand core - The meaning of your brand from the perspective of the owner. Why the brand exists, where it's going, what is it committed to, and how will it behave. 2. Develop your buyer persona - Know your audience. Their pain points and desires. take the time to understand them. 3. Weigh up the competitive brands - Know what they’re offering in the market and the options they present. 4. Forge your differentiation strategy - Be unique and identify the gaps left. 5. Define your strategic market position - After the differentiation strategy and target market is defined, begin to clarify your position. What do you do and who do you do it for. The difference between existing options and the added value and benefit to the audience are all considerations that need to be ironed out. 6. Align your brand archetype - If you know who the audience is and their desires, begin to uncover their personality type through the use of brand archetype. Then develop a personality framework for your brand to appeal to who they are. 7. Shape your brand personality strategy - Since the framework is only a starting point to bring your brand to life. You need to draw realism so attitudes in the industry, opinions on the wider world, and broader beliefs add MORE personality and believability to your brand. 8. Find your brand voice and tone - The tone of voice which your message is delivered is a great tool for attraction. The uncovered personality of the brand and its audience, carry the characteristics through the written and verbal words. If the target market hears the message, they'll feel even more connected and open to the brand. 9. Define your brand strategy framework - Through understanding the challenges and desires of your audience, formulate a brand message well-equipped to resonate on a deep human level. 10. Craft your brand storytelling framework - Craft a part of your story where it feels like the journey they're on, and what can they learn from it. 11. Define brand identity system - This is where the brand crosses from strategy development to the visual identity design side. The difference is that the designer is armed with such an array of information on strategy and direction. Enjoying a vantage point not available to non-designers. Starting the visual strategy with an edge. 12. Define marketing strategy - Where the target market is, and the channels that they use. 3 A's of brand growth 1. Awareness - Putting the brand on the map and the mind of the audience. The more awareness, the more consideration in that buying decision. 2. Adoption - Hard work through sales and onboarding sequences to convert awareness to adoption generating one-off business is not easy, generating repeat business requires finesse. 3. Advocacy - Holy grail of branding as it turns consumers into a marketing machine with word of mouth and this provide social proof for more consumers. Leading other consumers to try you out and turn them into sales.

Very good topic overview. Eye opener to have referrals ready for your customers to continue on their execution journey after a planning and ideas fase.

The human mind's tendency to anthropomorphize everything

🖤🧡

I came to hear Seth, not the interviewer who I felt talked too much.

Bought the 1st and 2nd editions ... definitely shaped me as a solopreneur brand strategist and coach. Her work still influences my process marketing 8-figure brands today. May she rest in power!

🥳Grow your business with us.💥💥Let's shake hands.🥰

How To Find A Sustainable Competitive Advantage: If a brand has been solving the gap left by the market for a long time, it's a competitive advantage. 1. Segment your audience - Have a specific target market 2. Establish a buyer persona - It represents the specific segment. Their likes, fears, desires, etc. Understand them and connect with them through touchpoints. Analyze their psychological, geographical, and behavioral details. 3. Evaluate your competition - What the competition is doing well and not. Find what the consumers want and those gaps. Create a market map. 4. Evolve those gaps into ideas - Be bold and think big. Branch different opportunities, have patience, and be strategic. 5. Define your competitive advantage - Make your consumers notice your unique offer. Document that into a position statement within the internal brand, just make it clear. Look into the market, find those gaps and opportunities, develop those gaps into a possible 3 + strategic and unique Ideas, and hone in one to develop it out into your competitive advantage and ultimately the brand position.

Great interview with Seth. Besides AI influencing marketing, another great rabbit path would have been neuromarketing.

Sustainability branding is the process of focusing and integrating identified environmental, economic, and social issues into the operations of a business. Brands are focused on solving a problem with a sustainable solution that benefits the consumers as a whole and in turn gets a profit. Why is sustainability important? People are now concerned with the environmental problems faced by the planet, and brands are emerging to put the needs of the planet ahead of profits. So they expect brands to do this instead, and push more into doing the same. Due to that concern, their spending decisions change. They are now MORE likely to buy sustainable products than others. PRINCIPLES: 1. Create a sustainability roadmap - This identifies the strategies used are more noticeable and are really working. This ensures market relevance and the long-term impact results 2. Understand the process - Create the connection between the brand's strategies processes, and purpose and then creatively communicate that across all touchpoints in conversations. As a copy, by looking at their process, you can give them their sustainability narrative. 3. Embrace transparency and integrity - Be authentic and honest. Talk about your efforts, visions and milestones. These must be notifiable and verifiable. Your message must be align with your efforts. 4. Put purpose ahead of profit - A bigger vision that makes a long-lasting impact. Be people and planet-oriented. HOW TO CREATE A SUSTAINABLE BRAND: Engage with stakeholders about the expectations. Whatever happens in the production process becomes your sustainability branding story. So oversee and manage it accordingly. Find something you can improve and implement it even better. Audit existing process - Find areas where you are exceptionally compliant then capitalize on that foundation of sustainability practices to reinvent your brand communication across all conversation touchpoints. Partner with other sustainable brands - By marketing and showcasing green products produced from sustainable practices, it perceives them as a sustainable brand.

This was great!!

Yoo, guys no doubt this guy might be the owner of the far from weak channel 😅

The far from weak channel used that iceberg on one of his video. Isn't it concerning

Woah. Mind bending insight. And this shoot fly

Brand portfolio - A group of brands that are part of a broader brand umbrella and are created by a business usually to try and manage the businesses that they're operating in. The markets within which they're operating so they can extend their reach and market share. Example: Coca-Cola's Coke is one of their 200 brands. Brands small or not, may decide to brand each of their multiple product portfolio to create a clear and transparent offering to its customers which provide structure for growth later on. If an established brand wants to enter a new market or increase market share may create a new sub-brand thus creating an umbrella branding structure and a first in the portfolio. They can be used for diversification, expansion, and increased market share. BRAND PORTFOLIO ROLES Flanker brands - a brand introduced into a market by a company which already has an established place in order to increase overall market share in a product category. Cash cow brands - The parent brand that has a good brand equity which the sub-brands leverage onto. Entry-level brands - one seeks to expand the customer franchise by offering a product for first-time users at a lower cost. As the customers grow over time, the parent brand should provide mid and high-level options too. Prestige brands - These convey the perception of luxury and superior quality.

Brand Extention - This is when established brands with a reputation and equity, push into other categories where they don't have the same. So they leverage their brand equity to expand into new markets and establish themselves. However there needs to be an opportunity and a need that the brand can adopt. EXAMPLE: Nike pushing into different sports and lifestyle categories. WHY AND WHEN TO USE IT: If there's an opportunity and a demand for a product and service. If there's a chance of being adopted and whether the target audience values the reputation from a different category or not, if there's a chance you will be rejected, it can be damaging. ADVANTAGES: Endless: Increased awareness, market share, reputation, etc. DISADVANTAGES: Risk of damaging the previous reputation and its original audience. So consider the audience and what they want, to whether or not they'll accept you into their lives.

What is umbrella branding? Leverage brand equity of a parent brand, to sell a variety of related products or services to a broader segment of that audience. The reputation or equity of the master/parent brand allows the sub-brands to enter the market with an established reputation already attached and helps those audiences to adopt those products and services. But regardless, they still have their OWN autonomy. Like messaging, positioning, and more. They just appeal a little bit more specifically to the audience. Umbrella branding vs family branding? They mean the same thing and are used interchangeably. EXAMPLE: Apple's sub-brands are the iPhone, iMax, and more. ADVANTAGES: Leverage the reputation of the parent brand AND the sub-brands The autonomy of the sub-brands follows the parent's guidelines but your freedom depends on the relationship, so you can specify more on everything you do in addition to the reputation. DISADVANTAGES: Quality fluctuation in comparison to other sub-brands or the parent brand. It's a management issue. The equity is a 2-way street. If it's negative, then the sub-brand can be affected. When to use it? Within your segment, if there's a smaller segment within, target them with your service or product that can appeal more to that audience than the broader one.

Great Episode! I love that you didn't think he'd do your podcast, but you asked anyway. It's a great reminder to us all to go for it... you just never know!

Multi-Branding Strategy It’s when an established brand in a specific category introduces another completely different brand in that same category. It’s a house brand strategy. Why use it? Due to its nature, there are many segments that the brand can’t reach. So this strategy increases market share and reaches more specific customers. Example: P&G’s Tide and Cheer - There are complaints about Tide being too expensive, so P&G introduced the much cheaper Cheer. Tide lost market share but P&G’s overall market share increased. Advantages: Increased sales and revenue Market share Expansion Broader brand prescence More opportunities Disadvantages: Expensive Management issues Brand canibbalization - Competing in certain levels and not pulling what it should. Extremely risky