The big ideal: How brands benefit from having a purpose

Jim Stengel, former global marketing officer for Procter & Gamble, argues that a purpose that goes beyond the benefit of the service or product itself is one of the most valuable qualities a brand can have.

The Big Ideal: How brands benefit from having a purpose

Chuck Kapelke

Brands with a higher purpose have a definite edge in the marketplace. Here's how to help your brand embrace a cause – and reap the rewards.

Amazon.com exists to enable "freedom of choice, exploration, and discovery." Coca-Cola exists "to inspire moments of happiness." And lest you thought Johnnie Walker is all about showing you a good time, the Scotch whisky exists "to celebrate journeys of progress and success."

In his 2011 book Grow: How Ideals Power Growth and Profit at the World's Greatest Companies,Jim Stengel, former global...

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