ABSTRACT
Branding provides rational reasons for consumers to behave irrationally. Corporations today have access to real-time data that allow them to understand how well they are serving the customers. The four V’s of big data are volume, velocity, variety and veracity. By adding another “V” – verdict, the core reasons why people love the brand, big data can help assess, plan, implement and monitor brand performance.
Branding is a collective experience, and everyone plays a part that will either reinforce or diminish the brand experience and its reputation. Through physical and virtual contact, a brand can enhance a user’s experience. Therefore, branding is both a science and an art.
This new branding mindset is about co-survival and co-advancement, such that growth can occur by value creation through innovation. It is not a zero-sum game.
This chapter explains the 5-C Market Equilibrium, a state of being where all parties get what they need while the market operates harmoniously and sustainably. The 5-C components are corporations, consumers, collaborators, community and civilization.
This chapter also emphasizes the importance of brand virtue, which consists of brand values (the original mission of the brand), brand personality (the characteristics, qualities, and style of the brand), and brand behavior (the actions and activities the brand undertakes in the marketplace). Today, a brand is defined as the set of values it represents and the actual values it adds to those involved with the brand. A great brand radiates positive energy that brings opportunities and possibilities to anyone involved with it.
