This is a guest post by Richard Baker*.

In 1956 CBS and Procter and Gamble launched a TV icon soap opera entitled As the World Turns. It became the second-longest continuous running daytime network soap opera in American history with its success being attributed to one word, “Evolves”.

Brands are similar in nature; they must evolve, especially today given the immense power the internet has bestowed upon consumers. Companies are being forced to sit up and think about their branding models. The evolution of today’s brand:

Product-centric Customer-centric Customer-driven

Many companies’ brand philosophy is product-centric. Their primary focus is buy from us as you can trust it is a quality product that offers great value. The philosophy for those brands that are evolving is now customer-centric; creating the best experience at whatever cost, with the goal of creating a customer relationship that lasts.

Many companies’ brand philosophy is product-centric. Their primary focus is buy from us as you can trust it is a quality product that offers great value. The philosophy for those brands that are evolving is now customer-centric; creating the best experience at whatever cost, with the goal of creating a customer relationship that lasts.

Today, customer-centrism is being taken to a new level: customer-driven brands. These brands are utilizing the social media to their advantage by explicitly soliciting customer opinions and ideas to further enhance their products and services. The simple objective is to bring the brand closer to customers and in line with their needs and wants. So how do you design a customer-driven strategy? First, a major commitment from senior management and secondly following the 4 major steps as outlined below:

  1. Market segmentation: dividing a market into smaller groups of buyers.
  2. Market targeting: evaluate each market segments attractiveness.
  3. Differentiation: differentiating market offering to create superior customer value.
  4. Positioning: occupying a clear, distinctive place relative to competing products.

“The brands that are going to not only survive but grow are the ones that go beyond products to understanding, collaborating with and helping their customers lead a better life”.

So, is your brand philosophy evolving?

Author: Richard Baker is Chief Brand Strategist for Baker Branding – an integrated and engaged marketing service who assist business in achieving a greater ROI through the power of their most valuable asset; their brand.www.bakerbranding.ca.

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