Brand purpose represents the a reason for brand’s existence and what it stands for. It guides the brand about how to create value for every stakeholder the brand touches – the customers, employees, community members, partners, shareholders and the planet we share.
Brand purpose is important because it shows the customers that the company is not just its products, services, or advertising campaigns. It has a purpose — and that is bigger than just turning a profit.
The new generation of consumers is looking for brands to stand for something bigger than the products they sell. They want brands to embody an inspiring ethos, bring a strong point of view, and take action to make a positive impact in the world.
Study after study has shown that purpose matters, and that it has positive effects on key performance drivers. The companies who clearly articulate their purpose enjoy higher growth rates and higher levels of success in transformation and innovation initiatives.
Some Examples of Brand Purpose Are:
Dove: Achieving real beauty and building self-esteem
Coca-Cola: To inspire moments of optimism and happiness
Apple: To empower creative exploration and self-expression
Lux: Inspiring women to defy judgements and to dare to express their femininity unapologetically. The brand is known for its 94-years of association with beauty and celebrities. Last year, the brand launched a new Brand Purpose.
Zee TV: Encouraging viewers to draw from their own inner strength and take charge of their destinies.
Vicks: Touch of care