A great brand delivers a lot, not just to lovers of the brand but also to its owner. Consider Apple’s price premiums and multiple brand extensions beyond its initial MAC computers. GE Health, through its R&D and savvy acquisitions, built a compelling brand with huge scale versus niche competitors. Service, sales and pricing advantages result. Its scale buys market protection as well, as many start-ups exit with a GE acquisition. And who, as a TOM’s Shoes employee, wouldn’t feel proud, loyal and excited to go to work? But how do we measure a great brand and compare brands’ relative strengths? What levers must those who manage brands move through their actions and investments? Deborah Macinnis of USC described three factors creating brand admiration in her webinar for Marketing Science Institute. The talk introduced Macinnis’ new book Brand Admiration: Building a Business People Love….
Capitalize on Customer Frustration with Your Industry
“What is your bank trying to sneak by you?” appeared in bold letters on my computer screen. The screen was then filled with the complex and confusing words we’ve all seen in small print documents communicating our banks’ fees and financial charge practices. I hate those documents, don’t you? In one of the cleverest business model innovations of the year, GMAC Financial Services, a $180 billion global financial institution built initially upon the General Motors’ brand, has renamed its bank as Ally Bank and redefined its value promise. Like a river seeking lower ground, Ally Bank moved right into the heart of our frustrations and forced compromises with the banking industry, offering a solution that we’ve been waiting for – a bank that’s on our side. Ally Bank’s value promise is relevant, compelling and differentiated: Bank with us and you’ll keep more of…