Consumer Distrust Cost US Brands $756B

..Did you switch brands last year? 41% of consumers did costing U.S. brands $756 billion! The main reasons were poor personalization and lack of trust. 

According to this study by Accenture, it’s catch-22 because consumers 
are frustrated when brands fail to deliver relevant shopping experiences but are also concerned about personal data privacy.

Here’s the article in Mediapost.

 

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Disecting the Forbes Valuable Brands Report

Screen Shot 2016-05-13 at 9.38.07 AM..This is the latest authoritative report from Forbes.
A report with winners and losers. Can a strong brand never fail. What makes these brands so special? Why are brands important and why does America dominate?  Here’s what
I discussed with Michelle Makori on CCTV News.

To be honest I was surprised to see that Apple is so high as number one as the brand is under a lot of pressure from even Apple loyalists. And I’m not certain
if it is really credible for a list of the world’s most valuable brands published
in 2016 not have a single Chinese brand in it?

Would love to hear your thoughts on this.

Why Brand?

Open roadWhy Brand? There’s a lot of confusion about what brand can do for a business. It’s key to recognize that brand is a a reservoir of cash that’s not yet on the income statement and a promise that represents a set of values that are capable of motivating the public, employees and customers.

These values reach far beyond the bounds of what function the product or service actually performs. Instead they are anchored in human concerns, emotions and aspirations.

Of the Fortune 250 over half of their market value is tied to intangible asset-values (like brands). Some of the most valuable companies have 3/4 of (their) value tied to intangibles with approximately 25% of that value is brand.”

A McKinsey report found that: “Marketers can no longer simply depend on a product’s functional attributes to shape its identity. . . Marketers now carry a greater burden to present a consistent and strong image – an impression that must be carried from print to t.v. to Internet to social to retail,” What are the benefits? Why brand?

Here are 15 commercial reasons why:

A brand creates a preference. Think Warby Parker

A brand is an emotional bond that builds loyalty. Think Disney

A brand is a shortcut for decision-making. Think Caterpillar

A brand is a unifier of an organization. Think GE

A brand is an assets which adds financial value. Think Apple

A brand helps support higher margins. Think Vitamin Water

A brand helps insulate against competitive pressure. Think Burberry

A brand helps attract and retain the best talent. Think Google

A brand delivers efficiency to marketing/ sales efforts pre/post launch. Think Microsoft

A brand delivers efficiency. Think McDonald’s

A brand communicates a unique position in the market. Think FaceBook

A brand builds powerful global presence. Think Android

A brand represents global strength. Think NYSE

A brand facilitates alliances and partnerships. Think Olympics

A brand generates revenue. Think Tiffany

How To Bust A Category…

 

Four foundations to accomplish stand-out in a category:Innovation and Evaluation

 

 

Dean Crutchfield: In the Press I

Dean Crutchfield insights on marketing and brands across a variety of media and press: McDonald’s, Post Office, Docks, Starbucks, Ad agencies in down turn, Superbowl, Humor in advertising,

A Brand new day

Kamau High, October 2008, Billboard

http://www.billboard.biz/bbbiz/search/article_display.jsp?vnu_content_id=1003839362

Ad agencies, already lean, are cutting their payrolls

Suzanne Vranica, October 13th 2008, The Wall Street Journal

http://online.wsj.com/article/SB122384687637226819.html

Striving for balance between losses and laughs
Stuart Elliott, October 14th 2008, The New York Times

http://www.nytimes.com/2008/10/15/business/media/15adco.html?ref=business

Super Bowl Hit, recession fears blitzing ad industry showcase
Holly Sanders, February 8th 2008, New York Post

http://www.nypost.com/seven/12012008/business/super_bowl_hit_141680.htm

A new look for McDonald’s
Matt Vella, December 8th 2008, Business Week

http://www.businessweek.com/innovate/content/dec2008/id2008123_918813.htm

TV campaign is culture shift for Starbucks

Stephanie Kang, November 17th 2007, The Wall Street Journal

http://marketinganalyst.blogspot.com/2007/11/tv-campaign-is-culture-shift-for.html

Post Office aims to leave yesterday’s image behind

Stuart Elliott, October 23rd 2007, The New York Times

http://www.nytimes.com/2007/10/23/business/media/23adco.html?n=Top/Reference/Times%20Topics/Organizations/P/Postal%20Service

Docks to woo women at trunk shows

Suzanne Vranica, October 1st 2007, The Wall Street Journal

http://blogs.wsj.com/runway/2007/10/01/dockers-to-woo-women-at-trunk-shows/

Dean Crutchfield: In the Press III

Dean Crutchfield insights on marketing and brands across a variety of media and press, Microsoft, Visa, GM, Coke, Pepsi, American Airlines, Olympics,

Are the Olympics worth it?
Sophia Banay, April 11th 2008, Portfolio

http://www.portfolio.com/news-markets/top-5/2008/04/11/Olympic-Sponsorship-Dangers

Beverage Bigs Battle Bottle backlash

Kenneth Hein, February 17th 2008, Brand Week

http://www.indiaresource.org/news/2008/1021.html

Tailspin gets a new meaning

Michael Bush, April 14th 2008, Advertising Age

http://www.accessmylibrary.com/coms2/summary_0286-34404513_ITM

Sinatra still the chairman with hit album

Kamau High, August 14th 2008, Billboard

http://www.reuters.com/article/entertainmentNews/idUSN2329184820080523

At 100 GM looks ahead to better days

Steve Miller, August 21st 2008, Brand Week

http://www.brandweek.com/bw/content_display/news-and-features/automotive-travel/e3iea21f1e730544128c2cdca728d337bb7

Critics say Gates-Seinfeld duo no laughing matter

Suzanne Vranica, September 8th 2008, Wall Street Journal

http://online.wsj.com/wsjgate?subURI=%2Farticle%2FSB122082676065908265-email.html&nonsubURI=%2Farticle_email%2FSB122082676065908265-lMyQjAxMDI4MjAwODgwMjg2Wj.html

Visa dangles $600 Million for Holding Co. That can help it regain identity

Rupal Parekh, September 8th 2008, Advertising Age

http://adage.com/agencynews/article?article_id=130960&search_phrase=visa

Microsoft’s new ad creates PR possibilities

Aarti Shah, September 10th 2008, PR Week

http://www.prweekus.com/Microsofts-new-ad-creates-PR-possibilities/article/116482/

Dean Crutchfield: In the Press IV

Dean Crutchfield insights on marketing and brands across the media and press, best Naming approach, effective naming strategies, Coke, WAMU, Washington Mutual, Myspace, Frank Sinatra, What’s hot in 2008, Starbucks,

Coke, Clydesdales score with the Super Bowl viewers

Suzanne Vranica, February 4th 2008, The Wall Street Journal

http://online.wsj.com/article/SB120112559156711183.html?mod=fpa_mostpop

What’s in a name? A lot it turns out

Ruth Sherman, February 7th 2008, Fast Company

http://www.fastcompany.com/blog/ruth-sherman/lip-service/whats-name-lot-it-turns-out

On the Internet, It’s all about my

David Browne, April 20th 2008, The New York Times

http://query.nytimes.com/gst/fullpage.html?res=9F00E1DC173AF933A15757C0A96E9C8B63&sec=&spon=&pagewanted=2

Going for the gold

Mitchell Peters, August 26th 2008, Billboard

http://login.vnuemedia.com/bbbiz/content_display/industry/e3icaabfeb875c91a9e674ae57e18371690

What’s hot for 08?

Kamau High, January 4th 2008, Adweek

http://www.insidebrandedentertainment.com/bep/article_display.jsp?vnu_content_id=1003689967

How to reenergize Starbucks

Matt Vella, February 20th 2008, Business Week

http://www.businessweek.com/innovate/content/feb2008/id20080220_372003.htm

Sinatra still the chairman with hit album

Kamau High, May 23rd 2008, Reuters

http://www.reuters.com/article/musicNews/idUSN2329184820080525