"The concept of brand management was first introduced in 1931. Brand management meant having one person or entity in control of the brand." (Davis, M., and Baldwin, J. (2006). More Than a Name: An Introduction to Branding. AVA Publishing Chapter 1 Defining Branding, p21)
In the video How to make it in America there were two young men trying to sell things without a brand or business plan. They would come up with an idea and buy merchandise from the back of a truck full of stolen things. They borrowed money from loan sharks that charged 10 percent interest a week. Also it seemed like they had a hard time paying off their loans.
They had investments that they were stuck with in their small apartment with boxes stacked up full of skate boards that they couldn’t sell anymore. They didn’t plan ahead on any of their projects.
Without a plan they would just take the stuff to sell on the streets of New York City without considering permits or anything else that might be necessary. They got sited by the police and had to pay a fine which would cut into their profits if any.
These two men didn’t have a brand strategy or focus on anything at first until they bought the denim fabric to make a new line of exclusive jeans. They are already excited to promote this idea before it is even made.
The little boy on the bus was honest in his approach to selling the box of candy bars and would do a good days work for income because he wasn’t hiding anything and people could trust him.
