To define your brand, you must define your business.
So…what business are you in? What does your company do? Seems like a simple question, but I bet if you ask 10 people who work at your company (yes, your employees) you will get at least 5 different answers, maybe more.
Famed Harvard professor Theodore Levitt said it best in “Marketing Myopia” published in the Harvard Business Review…stop defining your company by your product and focus instead on what you do for your customers.
- Southwest Airlines would define themselves as an airline company, right? Rather, their president gets it right, when he says Southwest is “a customer service organization that just happens to fly airplanes.”
- Many of the Hollywood movie production companies missed the boat when TV came along because they thought they were in the movie business, when in reality they were in the entertainment business.
- And probably the most famous is Black & Decker who thought they were in the drill business when in reality they were in the hole business.
Sit down with your team and discuss this at length. Be totally objective. You may be surprised by what you conclude.