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Brand Failures of all times

f you believe that innovation is a way to help your brands grow, think again. You do not want to risk yourself like these brands

COLGATE-COLGATE PACKAGED MEALS

Inspired by the success rate of Lunchables or the static number of brand extensions, Colgate in 1983 came up with a new product ‘Colgate entrees’. Colgate entrees were a range of frozen products which not only failed to hit the limelight but also were capable of pulling down the sales of the brand to a considerable number. With the original brand being positioned as a product for oral hygiene, a little bit of research on brand extension would have saved the brand a lot of money.

COCA COLA-THE NEW COKE

In a desperate attempt to curb the rising demand for Pepsi products among young generation, coke in1985 came up with a new product ‘new coke’. The taste of the new cola was claimed to be ‘smoother, rounder yet bolder’ than the original version. Even though the product did get a great entry into the market, it didn’t stay for a long time. Causes of the failure of the new product can be attributed to the brand trying to change the entire ‘taste’ of coca –cola at once.

FORD-EDSEL

When ford introduced Edsel into the market on the ‘E- day’ in 1957, it was successful in creating a lot of curiosity in the air. Even though Edsel had some excellent innovation such as ‘rolling dome’ speedometer and its ‘teletouch’ transmission shifting system, a vacuum was felt in many areas of marketing. Edsel was released with a sky scoring price when America was having a recession period moreover the look of the vehicle failed to appeal to the eyes of the customers who found it more similar to something sucking on a lemon.

Looking at some of the greatest brand failures, it can help gain some insights on what NOT to do when thinking of creating a brand and/or introducing a brand. Lot of market research, studies and audience generation is needed to create a lasting brand.

4 tips to execute a good branding strategy

Whether it is launching a new brand or rebranding the existing one, execution of the brand strategy is the toughest part. Effective execution of brand strategy mainly fails due to companies not having adequate knowledge about the process. Here are some of the important factors which must not be overseen while devising your branding strategy.

To have a clear Brand vision

The vision that you create for your brand acts as one of the powerful drivers in implementing the brand strategy. Being able to clearly draw a line between what you want to achieve and where you want to get it from helps in effective moldings up your strategies

Planning the strategy

Planning helps one to understand where to and how to concentrate your efforts. Understanding what is to done helps one to identify the contingencies and take necessary action as to prevent it. A well planned out project will help you to understand how far it’s viable and what needs to be worked on.

Designing the strategy

When designing, keep it simple and alive. Do not go for complicated designs as they will choke your branding strategy leaving it unclear and messy. Moreover complicated designs are hard to replicate and heavy on the money. Take it simple and keep your attention to details.

Emphasis internal communication

Be sure to get every department actively participates in the process. Employees have different motivation and hence it is important to address them differently. Take into consideration opinions from the entire department and treat them with due respect. Keep in the track of the people who work on the projects daily and make sure you notify them of the goals.