The Importance of Branding

Coca-Cola is a brand machine. They are one of the rare companies that understands not only the importance of brands. Their whole culture is centered around developing, positioning and nurturing their brands. They don’t make mistakes, but they know that in the end brands are the only value they create.
We see a lot of new companies today and almost all of their founders say they know that branding is important, but very few understand what that means.
Great brands have a special bond with their consumers and very few early stage entrepreneurs know how to create it. Some of this is understandable. To get a new company off of the ground requires a lot of key skills – financing, formulation, production, logistics, retail and distribution effort. But, that magic of connecting with the consumer – and I say consumer because you have to do it one person at a time – is very hard to understand. I have been in this business a long time and I am not sure I can do it.
My point is this – a great founder doesn’t need to be able to do it either, but, he/she needs to be able to see this gap and find a way to make it one of your core competencies.
What do you think?

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