As Chinese automotive manufacturer Geely agrees to acquire Swedish car marque Volvo from Ford Motors for a $1.8bn deal,
Geely chairman Li Shufu said the Volvo brand would continue to focus on the premium segment, and would retain its core values of "safety, quality, environmental care and modern Scandinavian design".
This difference between 'product' and 'brand' is as true for the automotive manufactures as it is for hotels or resorts.
A product is more than just a physical unit - in the mind of the buyer, the product also consists additionally of a number of intangible factors that encompass expectations about attributes and benefits.
The brand is all this plus feeling! The brand will assist recognition and conjure images of attributes and trigger expectations
The brand helps the consumer to distinguish between competing and similar products, it can be a mark of quality or consistency but it always has the same 'core values' - a combination of good product and good brand is an unbeatable combination.
No matter what industry, you must establish 'what your brand really means', 'what goes into it' and 'what makes it special'
Consider your brand and consider your core values..
How's your brand today?
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