David Aaker is one of the gurus of Marketing and Branding. He created the Aaker Model, “a marketing model that views brand equity as a combination of brand awareness, brand loyalty, and brand associations. The model outlines the necessity of developing a brand identity, which is a unique set of brand associations representing what the brand stands for and offers to customers an aspiring brand image.” (Wikipedia).
One of his later books, published in 2010, was Brand Relevance: Making Competitors Irrelevant. In it, he argued that companies spent most of their time, thinking and monies on creating preference for their brands by going in for marginal improvements in their products. This was leading to marginal gains or no gains at all. He felt that in today’s global marketplace, companies should be looking at creating brand relevance by changing the frame of reference by creating whole new categories or subcategories that redefine the market so as to make competitors less relevant, and to cause consumers to rethink their decisions.
Frankly, brand relevance is not a unique Aaker idea – Ries and Trout have been recommending this for a number of years and Blue Ocean Strategy also makes a similar point.
Yet, the idea of brand relevance is powerful. In the attached video, Professor Aaker takes us through the concept of brand relevance and its importance in today’s competitive world
Visual courtesy : https://www.flickr.com/photos/globaxl/