Marc Pritchard, the Global Marketing & Brand-Building Officer at P&G, introduces the company's new branding strategy in this brand purpose keynote. He begins his speech by discussing the ways in which marketing today differs from before the recession. The new normal is all about doing less with less. It is no longer about exclusively selling products, but more about selling a better quality of life to consumers.
In order to offer consumers a higher quality of life, brands need to be driven by purpose. A brand driven by purpose will be forced to become more innovative, creative and transparent. Pritchard explains how each brand at P&G is now defined by a distinct purpose, and everything that brand does, from marketing to product development and customer service is firmly rooted in and driven by that purpose.
According to Pritchard, a purpose behind a brand can open up new possibilities of benefits for not only the consumer, but also for the brand. The bottom line of this brand purpose keynote revolves around the new importance of serving customers, as opposed to marketing to them.