What Is NOT Good Value – The U.S. Healthcare System
Consumers question what is “good value” more than ever these days. This trend started in earnest in the Great Recession in 2008. In particular, Millennials with fewer job opportunities and lower income started to ask whether the promised benefits of brands were worth the price charged. In many cases, the benefit can be open to interpretation, especially for perceived gratification from high image products like fashion, cosmetics, fragrances, etc. But when the price for “standard benefits” is so out of line, then credibility and trust for that...
read moreThe Dynamics Of Emotion And Lying To Sustain Brand Loyalty
The essence of good branding lies with trust and credibility. Yet we are unfortunately living in a partisanship world that is characterized by levels of mendacity that has never been witnessed before. How can world leaders like Donald Trump, Boris Johnson, Vladimir Putin, Narendra Modi in India or Recep Erdogan from Turkey continue to lie so frequently and blatantly, and still sustain strong loyalty for their personal brand among their core base of supporters? Does this have noteworthy implications for other brands? This tendency to...
read moreWhat’s In A Name Today? A Lot – Just Ask Trump
A name is the core indicator of a brand. It is the “face of the brand”, the basis for all awareness and communication efforts. Ideally new names are designed to create an immediate impression and sustain the key values and personality traits associated with the brand. Today brevity, clarity and emotional messaging have become essential for successful marketing over the internet. A good example is how President Trump flavors his constant twitter messages with catchy nicknames that disparage his political rivals. Trump’s Obsession with...
read moreHow Millennial Skepticism Will Shape Brands In The Future
Millennials and Generation Z are becoming increasingly unsettled about their lives, their careers and the world around them. Their trust in traditional institutions (e.g. political, business, media and religious leaders) has never been lower, according to the recent Global 2019 Millennial Survey by Deloitte. Importantly their ambitions and values are very different from older generations. What will all this mean for our future? Will their pessimism deter economic growth, or instead encourage innovation and even create new opportunities...
read moreFrom Shareholder to Stakeholder – A New Corporate Purpose And Brand Identity
A huge, fundamental change on “the purpose of a corporation” was announced by The Business Roundtable on August 19 which basically re-defines the role of business in society. This seismic event represents a definitive recognition that Government can no longer be trusted to resolve many hot-button problems in our society. It also marks a possible end of investors focusing solely on maximizing shareholder profits, and a shift to a broader commitment to all stakeholders – e.g. employees, customers, suppliers and communities. The philosophical...
read moreHow Elvis Re-Branded Las Vegas
A lot happened in 1969 – the moon landing, Woodstock, the grisly Manson murders, the Stonewall uprising, etc. Perhaps less noteworthy, yet significant for a city known for entertainment, was Elvis Presley’s comeback 50 years ago at the International Hotel in Las Vegas. After a decade of artistic doldrums, boring movies and no live performances, he returned to the stage on July 31, 1969 with a memorable 4 week performance that not only reinvented his career, but re-branded Las Vegas. For strategic marketers, this experience provides some...
read moreA Branding Paradox: Build But Don’t Dominate
Marketers are encouraged to maximize the awareness, trial and usage of their brands. They also know that a brand is more than just a fanciful name. Insightful research and prudent positioning will make a brand “special” in the eyes (and hearts) of their target customers, offering a meaningful promise, a credible reason to believe this promise and a competitive edge. The name is the face of this brand positioning. Ideally it should be memorable and generate associations that can help create...
read moreLatest Trends & New Perspectives On Brand Risks
Branding is the core of marketing, yet it is a strategic discipline that has been dramatically impacted by social media in recent years. It has opened the door to a great variety of activism and disinformation and as a result, companies are facing new types of brand risks. In light of this surge of threats to brands, it is important to stay updated with the latest trends and new research that can provide insights to help protect (and ideally build) brands. A few weeks ago (May 22), Boston University’s Questrom School of Business held a...
read moreHow Storytelling Can Enhance Authenticity For Purposeful Branding
Branding has evolved over time, opportunistically responding to what will best motivate customers and differentiate it from competition – from product branding, to rational branding, to emotional branding to today’s altruistic purposeful branding. With young consumers increasingly demanding brands give more back to society, the challenge today is to create a promise that can be trusted and delivered – with credible authenticity. This trend for brands to create and communicate their CSR (corporate social responsibility) promises reflects a...
read moreThe Rise Of A New Type Of Brand – The Outlier
A good brand offers a relevant promise and a credible point of difference, its “reason for being”. What is emerging today however, is a form of branding that focuses so much on being different that this distinction often becomes the main focal point, instead of the promise or benefit. This is happening in politics where new candidates (i.e. “outliers”) strongly emphasize their stance as a unique alternative to established rivals. Similarly new business ventures are offering a better value choice compared to traditional brand leaders....
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