By Terry Johnson, IPF Vice-Chair and Business & Marketing Expert
“Smaller players must be brave enough to build a distinctive, even unconventional brand identity, rooted in the heritage and the know-how of their own brand. They must be bold enough to innovate with a disruptive identity and value proposition.” Alessandro Balossini Volpe, Professor of Brand Management
When discussing the word “brand” it is important to recognize that there are two different kinds of brands each having different purposes and both working together synergistically: Company Brands and Product Brands.
For large organizations such as Moët Hennessy Louis Vuitton (LVMH), branding gets quite complicated. They have their own LVMH Company Brand, Company Brands of the 75 companies they own, plus the Product Brands from all companies.
For this article, we are going to focus on Company Brands for perfumery and essential oils brands.
Your Company Brand, whether it is your company name, slogan, logo, or other aspect of visual identity (such as the use of the New Luxury Code Logo), needs to be developed or redeveloped from your Value Proposition, which represents the promises of what value you will continue giving to the rest of the Natural Essence Community.
Along with your Mission Statement and Vision Statement, your Company Brand should reflect those promises which will be fulfilled through the proper execution of your Business Plan.
When you read articles that feature some aspects of branding, it is important to know which type of branding they are discussing, since it is quite common to discover authors who use Company Brands and Product Brands interchangeably.
Since we are discussing Company Brands, here is a diagram of a recent survey on brand authenticity:
How do we know if a survey is talking about Company Brands or Product Brands?
One clue in this diagram is to go down the list until you get to “Uses all natural ingredients”. Only 11% thought that natural ingredients were associated with authenticity.
If this had been a survey about Product Brands, especially in natural essences, “Uses all nature ingredients” would have been near the top if not the top choice. But in this survey, it only rates 11% because they are responding to questions in authenticity of Company Brands.
Powering up your Company Brand presents an opportunity to revisit your Value Proposition to strengthen the value your Company Brand through improvements in messaging between your company and everyone you have contact with.
Who should you communicate with about the value of your Company Brand?
Terry Johnson is teaching Business and Marketing, an essential course for developing a successful perfumery or essential oil business.