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Discover the distinction between a logo and a brand, and the challenges of building a unique product. Learn the importance of substance over superficiality when establishing a brand, including the significance of trust and three ways to impress customers.
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Quick takeaways
- A logo is not the same as a brand; a brand goes beyond design and reflects a status symbol or culture.
- Building a brand requires consistently wowing customers, being the first in the market, and proving longevity.
Deep dives
The Power of Building a Brand
In today's competitive landscape, building a differentiated product or business has become increasingly difficult. With access to information and the ability to replicate products, most products are becoming commodities. However, owning an audience and building a strong brand are the only true differentiators that allow businesses to attract customers for free and charge a premium. Brands make a promise to customers, create expectations, and provide a distinct experience. The value of a brand is determined by how much extra consumers are willing to pay above the substitute. Companies with brands are able to successfully launch new product categories and have implicit trust with their customers. Building a brand requires wowing customers consistently over time through being first, being better, or by doing unscalable things to build a relationship.
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AI-powered
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Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode