Conde Nast just announced its intention to sell its Fairchild Fashion Media to Penske Media for a $100M so it can focus on its core brands. References to core brands and core business is what you hear from companies under financial pressure or companies with slowed growth. There was a lot of talk about core during the recession. The opposite is growth into new tangential businesses. It is what really profitable companies do. Growth companies are looking for that next big business thing. They are investing in futures. Finding places to write down taxes. Google’s self-driving cars, energy initiatives and hardware escapades are non-core.
Brand planners love the core. It helps them see what a company does really, really well. It helps them articulate and cluster competencies. It allows the planner to plumb the depths of consumer resonance. Understanding the core is important groundwork for beyond the dashboard planners. Those who do planning that is future-based. Before Steve Jobs and team came up with the iPod and iPhone, they had to understand the core. Then translate it into futures.
There are rearview mirror planners, sideview mirror planners, dashboard planners and beyond the dashboard planners. The best are a combination of all 4 — but focus beyond the dash. Peace.