Why Millennials Value Experiences, Not Stuff
There is no question that Millennials or Generation Y consumers (born between 1980 and 2000) are an unusual breed, with very different values, buying habits and attitudes that confound older generations. However, the most noteworthy trend is their decreased desire to own things or buy them through traditional channels. Instead Millennials are obsessed with having a memorable experience, which will have a reverberating impact on positioning brands in the future. They are just not buying stuff like other generations. The obvious winners of...
read moreThe Growing Risks to Brand Reputation Could Become a “Game-Changer”
We are seeing it everywhere today – social activism and the misconduct of celebrities, CEO’s or politicians which provoke both shock and anger among their constituents. It could be sexual harassment, outlandish and incredible accusations, or any kind of behavior that is unexpected and inconsistent with their personal brand image. We have witnessed this with Weinstein, Elon Musk from Tesla and several congress people recently. In every case, their misconduct has negatively impacted their personal brand reputation and even their associated...
read moreA Branding Perspective – Why Nike Supports Kaepernick
The announcement that Nike is now using Colin Kaepernick, one of the most divisive American athletes in our time, to promote its brand was stunning, and guaranteed to further polarize a very partisan society. Most major companies steer away from stances that will surely anger so many constituents. Then why did Nike introduce such a controversial figure in its new “Just Do It” campaign? I’m not taking a position on whether this was right or wrong, but Nike’s action does represent an interesting case study on the strategic thinking for...
read moreShould A Brand Take A Stand On Social Issues? When? Why? How?
Every CEO today is feeling the growing pressure to take a position on some social or cultural issue that has become mainstream in our digital, partisan world. It is a quandary for many companies. Why stick your neck out by initiating a point of view if no one has protested yet or your brand has not appeared in the news. Yes, every brand situation is different and there is never a clear path to take, but here are some pros/cons on relevant options to consider: Biggest “hot button” issues today – A 2018 study by Cone/Porter Novelli found...
read moreHow CEOs Can Restore Their Company Brand Trust
You just can’t win, say many CEOs. Take a stand on almost any socio-economic issue today and you will delight many, but offend others. While our society has become so polarized and reactive, there is also a growing desire by most consumers, employees and investors for CEOs to take more proactive action to improve society. The dynamics of any journey to build trust and credibility are often confusing and conflicting. The latest Edelman Trust Barometer study found that the credibility of CEOs reached an all-time low of 37% in 2017, although...
read moreWill Growing Income Disparity Force CEOs To Re-Brand?
It is an event that has been dreaded by corporate executives for years. The pay ratio disclosure rule in the Dodd-Frank law is now being fully implemented, effective May, 2018. While Congress has chipped away many of the regulations of this law, it has retained the part that requires publicly traded companies to calculate and reveal the ratio between the CEO’s compensation and the median pay of the companies’ employees. This could be a huge challenge to the brand image for these chief executives and implicitly a risk for their company...
read moreThe Rise and Fall of the Trump Lifestyle Brand
The roller coaster ride behind the Trump brand and his merchandising empire over the past 20 years is a perfect example of what happens when a personal brand loses its credibility and integrity. Branding is strategic and should reflect certain promises and values that are relevant to targeted customers. Developing and communicating distinct credentials to stand out in a crowd is true for personal branding too, whether it involves a celebrity, a politician, or simply someone looking for a new job. Related to this, lifestyle branding builds...
read moreHow CSR and Social Activism Are Defining Brands Today
Brand marketing has evolved from product-centric to consumer-centric to values-centric today. CSR (Corporate Social Responsibility) has become an essential ingredient in the marketing strategy and an integral part of the day-to-day operations of most companies. Importantly this emerging role of CSR has expanded the traditional principles of capitalism about financial performance or maximizing shareholder wealth. Most executives now recognize that there must be a balance between profitability and corporate responsibility. The rise of CSR...
read moreHow Newly Energized Millennial Activists Are Shaping Brand Choices
Already in 2018, we have witnessed traumatic events that have galvanized a surge of activism from three sources which heretofore have been either dormant or ineffective with their voices for change: (1) primarily Millennials, led by Generation Z students from the Parkland, Florida massacre who are initiating a broad movement against pro-gun politicians tied to the NRA, (2) noteworthy brands taking a stand against NRA positions, and (3) the women’s growing movement against sexual harassment ( e.g. #MeToo initiative). The ultimate goal of...
read moreThe Emerging Challenges For Managing Brand Risk
Last year was a watershed year for business and our society, where rising populism, Trump’s polarizing accusations and various socio-economic trends have made the topic of “brand risk” a top priority concern for every marketer. Traditionally politics has always been avoided by business leaders as it could lead to unpredictable problems, with no assured benefit for their brands or corporate reputation. Today it is almost impossible to avoid taking a position on many political and socio-economic issues, especially with social media ready to...
read more
