Friday, January 20, 2012

How did they get big?

I meet with brand owners all the time. Big and small brands. Smaller brands ask this question more often. How did the bigger brands got big? 

Well, they get big on a smaller scale in smaller market segments. Then they get bigger on a bigger scale in a bigger market segment. And they repeat. In the process they invested in failure. Repeated successes. Made a few mistakes. Spent some money. Invested behind their brands. 

Yeah, sounds like hard work. 

Don’t be afraid to invest behind your brand. Oh, money that’s the hard part. But that’s how big brands got bigger. They put money in. Maybe that’s why when brands are big they have brand equity (i.e., monetary value).

How long do you plan to stand there?

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