I'm learning a whole lot about working for a product vendor versus working as the retailer. It's very interesting to behold.
Retailers are brand-centric. Particularly in the consumer electronics space (where I came from) you're selling the same stuff as Best Buy, Crutchfield, Amazon, etc. There are distinguishing things you do to try and set you apart (how you merchandise, your personnel, etc) because after all, an iPod is an iPod. Some companies succeed at that better than others, of course, but you probably see where I'm going with that point.
Switch to the vendor side. Your business is the products. And yes, you sell the same stuff that other vendors sell, but you're on the flip side of being extraordinarily product-focused and possibly neglecting the brand. I'm finding myself in that kind of situation. A company that is traditionally product-specifically focused (which makes sense in their industry, but hurts them in the long run) is tasking me with revamping their website to be a brand experience.
I've become the default creative manager for this project because...well, I am the entire web team. Just the little red-haired (and incredibly sharp-witted, of course) girl in the cube. We're working with an absolutely excellent outside vendor, who asked the question I was dreading today:
We need to better understand the brand.
Man, don't we all. I have very vague concepts and words that I have heard over and over, but they're extremely generic. They're words ANY company in this landscape would use, and when pressed for differentiation I get one of two things:
1. A gulp and a blank stare.
2. Eyes intently focused on skirt lint. With fingers picking frantically.
Really, this creates a good opportunity. If there is no brand, then we get to build it.
Selfishly, it means I get a crash course in building brand identity, which is good because my former employer is infamous for failing miserably in that endeavor.
Silver linings, people. It's all about the teacup ride. There's lots of swirling, faces passing by with smiles and thumbs up...but really, it's me in the teacup turning that circle furiously to keep everything moving. Smiling when inside my stomach is breakdancing. You know the feeling.

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