Month: June 2010
One of the most common refrains I hear when naming a new business is “I’ll know the right company name when I hear it.” That may or may not be…Read More
Be sure to vote now through June 30th, 2010 for a $20,000 corporate branding makeover for America’s most deserving non-profit charity. Here are the four finalists! MISSSEY Missey is one…Read More
(Excerpts) Davis adds, “When people are starting off at first, they’re so eager to get to market, to get traction, that they tend to go towards very literal, descriptive, functional names and those names end up pigeonholing them.” He even goes so far as to say that pigeonholing names are the reason why companies like Best Buy have outstripped competitors such as RadioShack and CompUSA.
Since companies tend to rebrand later in their life cycles, they often have more money than when they were first starting out. As a result, they can solicit more outside opinion in the process of choosing their names. But this isn’t always a good thing, says Davis.
“I see a lot of names get shot down that are good brand names because [companies] don’t provide context when they’re floating the name out to people,” says Davis. If you don’t tell people what your company does or what you want the name to evoke, all you can collect are random personal associations.”Read More
Build Your Identity on Core Values for Enduring Financial Success Many business owners spend much of their time, money and energy promoting their products and services instead of building their…Read More
(Excerpts) “This is a tough one — I don’t envy the tourism marketers for Arizona,” sums up Phillip Davis, president of Tungsten Branding. “In this kind of scenario, the challenge is to maintain a strategic balance between over- and under-reacting. An overly aggressive approach can come off as shrill, and actually end up adding to the controversy by getting people who weren’t even aware of or very interested in the issue involved.”
“In general, it would seem better to stay very non-political and stay on talking points about the larger, enduring ‘brand’ of Arizona — what makes the state beautiful and attractive to visitors,” Davis continues, noting that even the worst political or PR crises eventually subside. “You might want to consider adjusting or toning down certain aspects of an existing marketing campaign for the present, but it doesn’t make sense to just drop current positioning.”
While Arizona’s current “Free to Be” tagline is admittedly not ideal at present, he points to the example of Toyota — which instead of dropping its ‘Moving Forward’ tagline in the face of its vehicle acceleration crisis, just downplayed the phrase and focused on taking concrete steps to motivate consumers to buy its cars.
Davis approves of the strategy of reaching out to existing brand loyalists, or “friendlies,” during such a crisis. Trying to convert or change the minds of people who are currently angry or antagonistic toward a brand is “hugely expensive,” can take years, and is in any case likely to come off as “artificial and contrived,” he points out. “It’s easier and more effective to swim downstream, by reaching out to those existing loyalists — including those who have enjoyed visiting the region in the past.”Read More
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