You might think you're all 3, but human brains don't work like that. So let's be deliberate.
It’s a fact of life that many brands think they are the best quality, cheapest and fastest. The frustrating thing is that people only make space in their mind to associate a brand — with one.
It’s why we call this triad “the impossible triangle.”
Our brain is a fantastic organ of shortcuts. One shortcut that works well for humans, and one way our brains have evolved over millennia is to be efficient with our time & energy where resources (like food & shelter) are scarce. So we’ve built a filing system in our brains. The filing system we use when storing material memories (like brands) works by associating a brand with a memory we already have.
Being conscious about this helps us design “brand equity”. Which is a fancy way of saying association by design.
Defining the brand you want is a key step in building it. It will help people remember how and when they think of your company, so be sure to do this right!
A brand can’t be of the highest quality, fastest and cheapest option available.
Even if you did all sorts of operational due diligence - we humans don’t have the capacity for thinking about brands across three dimensions at once!
The Unobtainable Triangle helps avoid talking about “too good-to-be true” products or services. The ‘Un-’ part says not just one thing but many things all at once - the triangle represents what’s unattainable due to our human nature in how we file what we experience.
People are often faced with choices when it comes to their budget. Some might say, “I’ll take the cheaper option even if that means sacrificing quality.” And yet others will gladly pay more for better product because they know this decision has been made consciously and deliberately. In order to create a successful brand, it is important we first understand where our current strengths lie and then identify opportunities for improvement.
In these exercises you will be asked questions about your company’s situation and to define critical success factors. We’ll wrap by describing the ideal future state . You may consider answering some of these subjectively, but others should reflect factually based data so use judgment when deciding.
The qualities that make for great brands also tend to be contradictory. Sometimes you want something quick and easy, other times high quality is what’s required- but not everyone knows which option they prefer!
A lot depends on how much time your customers have for their purchase decision-making process (ease) but also what they plan to use it going forward - do we want someone using an old product forever because its cheaper than buying new stuff every so often?
No company can afford to ignore the future of their business and its ability in an uncertain environment. If you commit yourself, and work with your team on how best for them embrace change so they don’t get left behind when it becomes necessary!
