Innovation isn’t just about the product, but also the brand
September 25, 2020Why is Ethiopian coffee considered the best in the world? When Professor Ndemo posed this question to the members of Unthinkable at our August roast, we tried to answer him but came short. The Ethiopians have patented their coffee, meaning that you cannot get it anywhere else. What this has done is grow the brand of Ethiopian coffee so that it’s world famous and commands premium price points.
No one has ever bothered to patent Kenyan tea. For this reason it doesnt command the premiums it deserves. We were unable to patent the Kiondo, and now the chinese own the patent. Big brands such as Unilever are products of marketing and brand building. When you buy Rexona or Lifebuoy you are not just buying soap, you are buying a brand.
People can only pay up to so much for products and services. They pay infinite amounts for Brands. What are you doing to grow the value of your brand?
Prof. Bitange Ndemo was a guest at Un.thinkable roast (our monthly 10X Growth Leaders Meet-up) in July 2020. Click here to apply for membership in Un.thinkable.