How Narratives Will Help Modern Brand Portfolio

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faisal2022
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How Narratives Will Help Modern Brand Portfolio

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A narrative-driven brand positioning is one reason for Tesla’s success and can be used by other marketers to better connect to a company’s strategy, writes Boathouse’s John Connors. Published April 21, 2022By John Connors Hispanolistic via Getty Images The Portfolio following is a guest post by John Connors, CEO and co-founder at Boathouse. Opinions are the author’s own. We all admire great brands and know they are powerful assets. Brands drive massive value for Portfolio companies and can help consumers navigate their purchase decisions. Interestingly, even CEOs from across industries and company sizes admire the same six brands that are top of mind for many consumers, including Amazon, Tesla, Apple, Nike, Microsoft and Google.

The brand strategy frameworks we use to build our brands and our clients’ brands may be gathering dust. The strategic principles marketers rely on have remained unchanged for the last 75 years: positioning, awareness, equity and loyalty, among others. As Portfolio we reimagine business and work, maybe there is also an opportunity to reevaluate the principles of brand positioning. Why we need to change Let’s begin with one of the most widely taught and widely Portfolio quoted definitions in marketing: The definition of brand positioning as written by Philip Kotler from Northwestern University’s Kellogg School of Management. Kotler defines brand positioning as “the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market.

That definition is often used, consciously and unconsciously, to rationalize a singularly focused brand positioning statement. That positioning Portfolio gets tested, validated and espoused in board meetings and senior leadership meetings. The positioning becomes emblazoned in the brand guidelines of companies, and marketing departments work to enforce Portfolio focus and consistency for multiple years to build differentiation in the market. But too often this definition leads marketers to an overly simplistic, singularly focused, museum-piece of a brand positioning statement.
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