Brands. What are they?
Many of us envision brands by their name: who they are, what they sell and of course the popularity of the brand as a whole. Most of you I am sure have heard of brands like Target, Starbucks, Dicks Sporting Goods, McDonalds… Yes, those are just a few. But even within those few, there are other brands that live as a part of them so yes, brands are all around us whether we like it or not.
Brands have fluctuated through many different phases. Generations went from loving anything with a logo or name on it to getting rid of all of those clothes to have nothing on them back to loving store brands all over again. It’s really a love hate, no hate love, no wait… love love? I can’t even tell you anymore given how many times this jump has been made in our recent society. With the ever changing power of social and digital media, I am sure soon enough we will hate brands again for no apparent reason or maybe just because it is yet again another new trend.
Brands however really are a powerful marketing hub which can drive sales, provide equity for a company and even help to position themselves as an industry resource. A strong brand can make or break a company and what it represents as a whole. Everyone knows that a strong mixture of reputation and visibility is the recipe for for your brands strength in the market. But we also know not all brands can maintain themselves as the powerhouse they once were.
Many prominent brands tend to jump the gun when trying to become THE BRAND in their field. Problems such as not knowing exactly who you are as a brand, negative public interaction and neglect to a strong mobile and digital web presence are all recipes for killing your brand. The first brand on my mind… Polaroid. A brand who dominated the market until the early 2000’s with cameras and all sorts of different “cutting edge” media. Well.. They struggled and by 2001, they filed for bankruptcy. So what did they do wrong? Resistance to change? Lack of acknowledgement for new technology? Well you could say it was a combination of the two and other factors… but I will leave that up to you.
I will leave you with this. Think of it this way, how do you view yourself as a brand? I mean have you even really thought about it? Are you trustworthy or confident? Timid or outrageous? I think everyone is their own brand in some way but it really is interesting when looking at it through yourself rather than some logo on a billboard we drive everyday.