Lovemarks Summary
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The document discusses the difference between brands and lovemarks. It provides principles for building a business code of conduct to transform a brand into a lovemark. These principles include performing well, pursuing innovation, committing fully to customers, nurturing integrity, and never failing reliability tests. The goal is to create deep emotional connections with target customers so that they feel loyalty and love for the brand rather than just needing it as a commodity. Lovemarks are remembered long-term while brands can fade quickly.
Lovemarks Summary
- 1. BRAND vs LOVEMARK Delivers Information Recognized by customers Generic Presents a narrative The promise of quality Symbolic Defined Internally Statement Defined attributes Values Driven Professional Marketing Campaigns Nurtures Relationships Desired by customers Personal Creates a love story The touch of sensuality Iconic Infused by all Story Wrapped in mystery Based on Spirit Passionately creative Ideas Incubator ADAPTED BY DEY DOS
- 2. PRINCIPLES TO BUILD OUR BUSINESS CODE OF CONDUCT To avoid being a “going nowhere brand” and become a Lovemark. q Perform, perform, perform q Pursue Innovation q Commit to total commitment q Make it easy q Don’t hide q Jealously guard your reputation q Get in the lead and stay there q Tell the truth q Nurture integrity q Accept responsibility q Never pull back on service q Deliver great design q Don’t underestimate value q Deserve trust q Never, ever fail the reliability test
- 3. Most major brands are stuck here. Sure, they offer functional benefits, but it stops there. Customers need them, but do not crave or love them. Commodities like public utilities usually belong to this quadrant. You do NOT want to be here. This is your goal. Deep emotional connections with your target customer. You create real, impactful value and they pay you back with loyalty, love and restless promotion. BRANDS LOVEMARKS It can be fun to get here, but you won’t be remembered next month or next year, like hairstyles and pop stars. A good place to be for a while. PRODUCTS FADS LOW LOVE LOW RESPECT HIGH LOVE LOW RESPECT LOW LOVE HIGH RESPECT HIGH LOVE HIGH RESPECT