Michael Campion - So if we can just wrap a little bow around those three things positioning, personality, purpose how do they drive revenues, profit and valuation?

Bob Sheard - Positioning, personality and purpose getting those things integrated and aligned can transform the outcomes of a company. I think what's interesting when we look at the components of position, personality and purpose is to look at how Other iconic global brands have managed to align.

So if you look at position and we see how Salomon positioned around the mountain sports company, but if we look at sports where and we look at the difference between adidas and Nike, then it's really interesting. There are clear differences in terms of their positioning. So they're both into sports, but Nike is all about the individual and it's all about victory. So you gravitate to Nike If you resonate with being identified as an individual and you want to be positioned around the idea of victory Versus adidas, which is very much more the Corinthian spirit of sport.

Adidas has all the best teams, while Nike has all the best athletes and adidas is much more about being the team and it's much more about participation and community. So you can see the clear differences between those two brands when it comes to positioning. When we look at personality and we saw how the craftsman. Personality was very important for after it's, because the magic of that brand is very much in the product creation then we can see how personality in other sectors also comes to the fore.

So if we look at someone like Louis Vuitton Quite a serious brand, that's about the journey and the destination. But when we contrast that with their great competitor, also French, also in leather goods, it's very whimsical, doesn't take itself too seriously. So we can see how the two personalities are quite different, ones quite established and one's quite whimsical. ‘And then when we look at the purpose, we can see how that can be massively differentiating with two brands that are quite the same, two West Coast brands that are both centered on the outdoors and they both centered on an adventurer brand role and archetype, are Patagonia and the North Face’ The North Face never stops exploring. The North Face is about conquering nature, whereas Patagonia believes that is its only shareholder.

So you can see how two different sets of purpose one is to conquer nature, one is to save nature can change the relative positions of each of those brands. So I would really strongly argue that within each of the components, aligning all the component parts that we've discussed but then aligning the three sections of positioning personality and purpose can absolutely transform the outcomes. It can totally drive a business from the outside, but most importantly, from within. If the people within a business believe in its culture, believe in its ambition, believe in its strategy, then it can go anywhere.