Is Brand Dying? Remixing the Marketing Mix

As a passionate brand strategist and creative advertiser, it pains me to pose this question. But when two marketing heavyweights like Scott Galloway and Mark Ritson start singing the same tune, it's time to sit up and listen. Their recent musings have forced me to confront a hard truth: In today's landscape, a strong brand will never again be enough to salvage a business that's lacking in product or placement advantages.

Don't get me wrong - I still believe in the value of a well-crafted brand. A compelling brand identity, voice, and story can work wonders in building an emotional connection with consumers. And I'll always get a thrill from developing a clever ad campaign that gets people talking. But the reality is, these branding efforts should increasingly taking a back seat to the nuts and bolts of product innovation and distribution strategy.

Take Chili's, for example. Under the leadership of CMO George Felix, the restaurant chain has done a commendable job of focusing on iconic brand cues, like the catchy "Baby Back Ribs" jingle. But George would be the first to point out that critical to driving their success is their commitment to product and placement innovation. Their "3 for Me" value platform, which offers a drink, appetizer, and entree at an unbeatable price, has been a game-changer. And their investments in off-premise dining options and digital ordering have helped them meet customers where they are in the pandemic era. The jingle gets people humming, but it's the product and placement strategies that get them buying.

Or consider the disruptive rise of direct-to-consumer brands like Hims and Roman in the erectile dysfunction space. They've managed to chip away at the long-standing dominance of heavily promoted brands like Viagra and Cialis, not by outspending them on advertising, but by completely reimagining the consumer journey. By shifting to a telemedicine model, offering more discreet and affordable product options, and creating a brand identity that resonates with a new generation, they've proven that innovative placement and product can beat pure promotional power.

Marketing mix has been remixed before our eyes. Product and placement are becoming the lead vocals, while promotion, though still important, is probably more of a backup singer when it comes to business success. As marketers, we need to be allocating our resources accordingly.

This isn't to say that brand is dying altogether. But it does mean that brand-building efforts need to be more closely integrated with, and in service of, product and placement strategies. Brand can't be an afterthought or a cover up for underlying business challenges.

So while I'll never stop loving the art and science of branding, I'm coming to terms with its evolving role in the marketing mix. It's time to adapt our strategies and shift our focus to where the real competitive advantages lie - in creating truly remarkable products and finding innovative ways to get them into the hands of consumers.

What do you think - are you seeing a similar shift in your industry? How are you navigating the changing tides of the marketing mix? Let's continue this conversation and ensure we navigate our businesses through these changing waters.