The Purpose-Driven Brand: Beyond CSR and Cause Marketing - CSR Minute for October 3, 2013
Interbrand, an identity and brand consulting company owned by the Omnicom Group, has released its 2013 ranking of the Best Global Brands. The top story is how Apple has replaced Coca-Cola as the new, most valuable brand in the world. The criteria include financial performance, but also what Interbrand calls a company’s “ethos.” My eye, however, is on a shift lower down on the list, where Samsung moved up from number nine to number eight, a rise attributed to its adoption of a new strategy called the Brand Ideal. The Brand Ideal has the mission of a greater focus on social purpose. It’s built on research that shows American consumers will switch brands to one that is associated with improving people’s lives, not just putting out good products. The company’s basic corporate citizenship program, Samsung Hope for Children, supplies products, expertise, and financial support to educational and healthcare initiatives around the world. In the U.S. and South Africa, Samsung is at work on two specific programs, the Engineering Academy and Solve for Tomorrow, that build educational skills for the future. What’s the value of this social purpose to the company? In the second quarter of this year, Samsung passed up Apple as the world’s most profitable mobile phone maker. In the race for profits in the competitive tech sector, defining your brand as having a social purpose as well as creating good products looks like great business at the bottom line. I’m John Howell for 3BL Media.
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