What is it that gives a brand power? Is it merely recognition due to saturation advertising? Certainly that may be the case for smaller businesses in a market with no well identified leader.
An example of this in Melbourne was an annoying, but mildly amusing ad for a blinds business. This name recognition has definitely given them an advantage over their competitors. Are their blinds any better than their competition? Well their ads don’t mention any points of difference in their ads.
But what about if your competitor is as well known as yourself. Your competitor is #1 and you are just behind them as #2, but are close to overtaking them?
Such is the situation with Microsoft and Apple, although strictly speaking, Microsoft is in the software market and Apple in the hardware, but there are many more advocates for the Apple operating system on their computers, than there are for Microsoft. This is not due to more advertising as in the blinds business example.
The advocates for Apple are comfortable paying a higher price for Apple products than their competitors. While superior design and a coolness factor are often sited, for the first time the real secret behind Apple’s band power is revealed in the video below.
May Your Business Be - As You Plan It.
Over to You. What do You Think? Post Your Comments Below.
Dr Greg Chapman is the Director of Empower Business Solutions and The Australian Business Coaching Club and is Australia's Leading Advisor on Emerging Businesses and provides Coaching and Consulting advice to Australian Small Business Owners in Marketing & Business Strategies Planning & Systems. He is also the author of The Five Pillars of Guaranteed Business Success and Price: How You Can Charge More Without Losing Sales.
The Australian Small Business Blog