Enlightened brands seek a higher purpose and articulate a meaningful perspective that stands for something. A powerful brand purpose communicates how a company plans to change the world for the better. Articulating brand purpose goes beyond crafting inspiring words about functional benefits provided to consumers—it extends to include emotional and social benefits.
Coca-Cola is stepping up efforts to drive transformation into a “Total Beverage Company” that relies less on its core carbonated soft drinks. Last January, transitioning away from its traditional brand architecture, the 131-year-old global behemoth that sells 500 brands in 200 countries, streamlined its trademark brand portfolio into a cohesive “One Brand” strategy.
Time Inc. could be soon known by another name. The 94-year old iconic New York City-based media giant is looking to rebrand to show its marketing and business partners how it has become a “multi-platform consumer media company.”