Letters from Moscow — P&G's Marc Pritchard Talks about Building Brands to Serve a Higher Purpose


RETURN TO INTERNATIONALIST HOME PAGE	P&G's Marc Pritchard Talks about Building Brands to Serve a Higher Purpose The Kremlin Palace Congress Center, Moscow, Russia—May 12, 2010 Marc Pritchard, Global Marketing and Brand Building Officer at Procter & Gamble, told 1200 marketers, agencies and media owners at the IAA World Congress: "This is the time to reset and recalibrate in order to make a difference in how we build our brands." He stressed that building brands and serving a higher purpose can produce more sustainable business results. "The biggest challenge our industry faces now is how we rethink concepts of branding. We must change from marketing to consumers to serving our consumers." Pritchard underscored how today's consumers are asking more from brands. "They want to help the world, not just themselves, and as a result will choose those brands that share their values and beliefs." As consumers have unlimited access to information, transparency is becoming a way a life. "They can see what we are doing," he asserted. Plus, passionate employees are now choosing companies that follow a higher-order purpose. After citing P&G's 20 years of investment in Russia, Pritchard outlined how the company’s mission is to touch and improve more consumers' lives in more parts of the world more completely. He suggested that marketers today should ask three questions when building a brand: Why does the brand exist? Why is it unique? What does it stand for? What are the core benefits? Are its actions consistent with its execution? How does it come to life via communications? How are the ideas about a product or service expressed? Marc Pritchard suggested that it is possible and profitable to achieve the next level in branding. His advice? "We have the potential to change our craft from marketing to serving." Change your brand-building mindset from selling products to serving consumers with your brands. Change your definition as to why your brand exists. Find how the brand essence reflects the values your consumers expect. Change your actions in terms of how your brand is expressed. Create and grow communities of people who care about your brand’s actions.

Marc Pritchard

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P&G's Marc Pritchard Talks about Building Brands to Serve a Higher Purpose

The Kremlin Palace Congress Center, Moscow, Russia—May 12, 2010

Marc Pritchard, Global Marketing and Brand Building Officer at Procter & Gamble, told 1200 marketers, agencies and media owners at the IAA World Congress: "This is the time to reset and recalibrate in order to make a difference in how we build our brands."

He stressed that building brands and serving a higher purpose can produce more sustainable business results. "The biggest challenge our industry faces now is how we rethink concepts of branding. We must change from marketing to consumers to serving our consumers."

Pritchard underscored how today's consumers are asking more from brands. "They want to help the world, not just themselves, and as a result will choose those brands that share their values and beliefs." As consumers have unlimited access to information, transparency is becoming a way a life. "They can see what we are doing," he asserted. Plus, passionate employees are now choosing companies that follow a higher-order purpose.

After citing P&G's 20 years of investment in Russia, Pritchard outlined how the company’s mission is to touch and improve more consumers' lives in more parts of the world more completely.

He suggested that marketers today should ask three questions when building a brand:

Why does the brand exist? Why is it unique?

What does it stand for? What are the core benefits? Are its actions consistent with its execution?

How does it come to life via communications? How are the ideas about a product or service expressed?

Marc Pritchard suggested that it is possible and profitable to achieve the next level in branding. His advice? "We have the potential to change our craft from marketing to serving."

Change your brand-building mindset from selling products to serving consumers with your brands.

Change your definition as to why your brand exists. Find how the brand essence reflects the values your consumers expect.

Change your actions in terms of how your brand is expressed. Create and grow communities of people who care about your brand’s actions.