Brand purpose, an idea bigger than profit, is seen as a way to drive long-term sustainable business growth. Having a purpose beyond profits has emerged as one of the most powerful ways to engage consumers and gain brand preference. Further, it is beginning to be an expectation of some consumers, something they look for when choosing a brand. However, brand purpose must be rooted in credibility that comes from organisations taking real action, and executed with authenticity over the long term.
Definition
Purpose is a reason for a brand to exist beyond making profit. It combines the ambitions and beliefs...