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CEO of brand management firm TURKEL Bruce Turkel discusses what distinguishes a successful company from a failing one in this building brand value keynote.
He begins his speech by discussing the tendency of brands to focus on themselves, their products, services and marketing campaigns, when really, a brand needs to be focusing on the consumer’s preferences and desires. According to Turkel, today’s consumer doesn’t care about anything but themselves, and are therefore extremely responsive to those brands that put them first.
Comparing Nike to Reebok, Turkel explains how brands and companies need to market their products as things people want and oppose to products they need. He then references the fashion industry as an example—no woman needs another pair of shoes, she simply wants them. Turkel believes that once brands adopt this perspective, higher levels of success will be achieved.