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Brand Consultant Feb. 15, 2023, 10:20 a.m.

To , You Need to Own a Word in the MindBuild a Brand

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Introduction
Procter & Gamble, widely known as a master of marketing, used to have a well-defined rule when writing memos on strategy—the first sentence had to articulate the recommendation in one succinct phrase. Unfortunately, this practice has waned within business plans over time; instead we are faced with countless ideas that can't possibly be boiled down into an effective summary statement. What then is the objective of a plan - merely outlining everything needed for success or something more? We need to remember our roots and refocus our attention back on making each plan start off strong by summarizing its true aim from Day 1.

Key to long term success
Companies must create a brand in order to have any chance at long-term success. This is due to the fact that brands are essential for protecting companies from their competitors and also providing them with profitable business opportunities going forward. Silicon Valley provides an excellent case study of this, as two entrepreneurs there sold their iPhone social media app company - despite having no revenue - for $1 billion after only 18 months thanks solely to the strength of its Instagram brand name.

From mom-and-pop restaurants across America to PC manufacturers, the trend has been clear: national brands are taking over. Where once were hundreds of different family owned businesses and local stores, we now mostly find large corporations with nationwide reach. This shift is leaving many former owners unable to compete in their respective markets as they struggle against larger companies that have more resources at hand.

Listing out a few examples
Google owns “search.”
YouTube owns “Internet videos.”
BMW owns “driving.”
Volvo owns “safety.”
Porsche owns “sports cars.”
Rolex owns “expensive watches.”
Starbucks owns “expensive coffee.”
Evian owns “expensive water.”
Whole Foods owns “organic food.”
Ikea owns “unassembled furniture.”

How it was in the beginning
The personal computer industry serves as a prime example - ever since it emerged from MITS Altair 8800 back in 1975 its evolution was largely determined by competing corporate giants such as Apple or Lenovo who fought for dominance on an international scale.

The turbulent personal computer market of the 80s and 90s saw hundreds of brands come and go. After 25 years, only three major names remained: Apple, Dell, and Hewlett-Packard. But how did they manage to rise above all their competitors? All three companies were pioneers in different aspects - from desktops to laser printers! Apple was a trailblazer for putting together everything into one attractive package; Dell however revolutionized sales with its direct business model via phones or online; finally we have our friends at HP who created something revolutionary by introducing desktop lasers as well as later purchasing Compaq - then leading PC brand on 2002 - allowing them even more success!

Conclusion
Years ago, when a Procter & Gamble Marketing Executive created the plan for their Dell brand to exclusively focus on selling personal computers by phone to businesses, they knew what it took to build brands. By narrowing its focus and establishing themselves as an expert in one area, your business can make sure that word is top-of-mind with prospects and customers alike. On the other hand though—trying to expand into different products or markets before you have mastery over one could be disastrous for any budding business trying to establish their own place in this world!