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December 7, 2004

Excerpts: Herb's Hints - Part V

By: 800-CEO-READ @ 8:05 PM – Filed under: Management & Workplace Culture

3: Marketing Is the World
This rule always helps me remember one of the most important components of success for a company. And since running a company is what Ive been doing for a large part of my career, I include this rule in my list to make sure its always at the front of my mind. Outstanding marketing is what most often brings business growth and consumer loyalty, as well as increasing a companys brand recognition, making consumers aware, interested, and excited about a product. A great brand, when marketed well, is the Holy Grail of businessa lasting source of pride and profits; its the driving force that makes your product sing. However, ineffective marketing or poor product quality can send a brand into a death spiral, causing it to disappear into the marketing graveyard.
Marketing is important because the brand lives in the mind of the customer, creating a feeling tied to an image. The man who buys Ralph Lauren for its stature and solid feeling, the aspiring athlete who wants Adidas on his feet when he plays soccer, the housewife and amateur chef who shops at Williams-Sonoma for elegant, high-quality products, or the family who buys Dial soap for its antibacterial protection. The brand creates an impression in the mind of the consumer, drawing them into the world that is your company. Brand marketing is essential in the world of consumer products. The brand perception, whatever it may be, reflects on the leader of the company as well, and vice versa. Marketing is everything. It rules the world.