A brand encapsulates the public’s perception of a business, making every business inherently branded. As Dale Carnegie aptly notes, human interactions are more influenced by emotions than logic. Consumer behavior consistently reinforces this notion. A striking example is found in the automotive industry, where the Pontiac Vibe, essentially the same as the Toyota Matrix but priced lower with a superior warranty, experienced lower sales compared to Toyota. The eventual discontinuation of the Pontiac Vibe, four years before the Toyota Matrix, underscores the impact of branding on consumer choices. The crux lies in the broader concept of branding, extending well beyond a mere logo. It revolves around the perception of what your business promises and the management team’s ability to fulfill that promise — essentially, it’s about trust. Both Pontiac (GM) and Toyota boast attractive logos and compelling brand promises, but the key lies in the execution. One brand excels in delivering, allowing it to command a higher price for ostensibly similar value.
