Can Social Responsibility Initiatives Strengthen A Brand Image…AND Satisfy Investors?
There is a definite trend of more companies committing to a specific social mission, whether it involves environmental, health, poverty, social inequality or other sustainable initiatives. However, the immediate reaction by many investors is that this will only increase costs and lower profits. More fundamental is their belief that such social benefit acts conflict with the traditional goal of business: to maximize long-term shareholder wealth. So is there room or justification for corporations to pursue both social and economic goals? This question is complicated with many dimensions. ...
Read MoreMillennial “Hipsters” and Boomer “Hippies” – Both Socially Engaged
It is irrefutable that the 75 million Baby Boomers brought about lasting social and cultural changes when they were younger, with their counter culture activism for human rights, self-expression cravings and other social conscious initiatives, especially during their anti-Vietnam rebellious protests in the late 1960’s/early 1970’s. Now there is an equally vocal generation that is extremely “Pro-Social” and shares many of the same values as well, the 83 million Millennials or “8095ers” (born between 1980 and 1995), who will represent 75% of the workforce by 2025. Already this segment accounts...
Read MoreRe-Branding – A Better Option Than “Disruptive Innovation”?
A recent “Economist” article compared the virtues of older brands using traditional technologies to the astonishing advances from new internet technology, often the result of the “disruptive innovation” process. Some of these established products have been able to resuscitate their business by re-positioning their brand proposition to create a viable, profitable niche in their markets. These turn-around examples raise insightful questions on the merits of “disruptive innovation” for many companies. Management gurus rave about the importance of “disruptive innovation” for creating new ideas...
Read More“Brooklyn” – A Rejuvenated, Hot Brand
Normally most people associate branding with a product, service or company, not a geographic locale. But the brand image is very important for countries, states or cities as well. The right image can attract new residents, investments, entrepreneurial start-ups and positive notoriety that will enhance the overall brand equity for a place, enriching the perceived value of living and/or working there. At its core, branding is all about developing an emotional relationship with customers. The targeted audience will ideally consist of people who can identify with what the brand offers, view...
Read MoreGetting Better Brand Value from “Big Data” – The Eternal Struggle
More than ever, businesses are obsessed with giving their customers “better value”. The Recession contributed to this fixation. Less money to spend, more uncertainty about the future, so let’s make sure we get our money’s worth from every purchase. But the concept of “value” can be a slippery goal to actually understand and accomplish. At the same time, another trend introduces a potential challenge for providing better value for customers – the explosion of data from the internet, or “Big Data”. It may seem like a contradiction in that by knowing more about our customers’ habits and...
Read More
