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1 Minute Advice: Danger Signs for Legacy Brands

In retail, the once great legacy brand, Sears, is virtually gone now. In the CPG world, the renowned legacy brand Gillette is struggling. While the reasons may vary, these and other legacy brands are in danger in today's volatile brand world, according to professors at the Wharton School.

Professor Santiago Gallino thinks "...these brands are breaking up with the customers. I think that at some point the customer decides to pack up and leave. To me, it looks like the brands are consistently giving the customer the signal that they are done with them, that they are not going … to give them what they expect from the brand and what they used to offer.”

Professor Barbara E. Kahn sees digital marketing as another reason: "...digitally native vertical brands go to millennials with an emotional, branded story that speaks to their lifestyles. Legacy brands didn’t see the change and didn’t change fast enough.” Still, she thinks it's possible for legacy brands to leverage the relationship they once had with consumers: "I think nostalgia will always be around. People tend to become more nostalgic during recessions; they long for the good old days and have a positivity bias about the past. They only remember the good things, so you see it in advertising, and market share of nostalgic brands picks up in less prosperous times.”

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Have you heard about the book, Boomer Brands?

1 Minute Advice: Is "Showrooming" Still a Problem for Retailers?

Brick-and-mortar retailers are always concerned when they see store visitors taking out their phones. Some of these shoppers are "showrooming" when they are in a traditional retailer. That means they have come to the store with the intent to check out a product's attributes but then look it up online to see where they can buy it at a lower price.

New research from Google is somewhat encouraging; it suggests that, while some mobile shoppers are indeed showrooming, others may actually be searching for more information about the store itself. In fact, Google has discovered "that people no longer follow a predictable and straight path to purchase." More shoppers are using mobile search before they even go to a store to look up hours, locations and other details. Google has found that " shoppers continue to hunt for deals while they’re in-store, and search online for things like '[retailer name] + in store coupons'..."

More good news regarding in-store mobile search, according to Google: "In-store shoppers are 4X more likely to search on Google for the retail brand of the store they’re currently in compared to the next highest competitor, and there are 6X more Google searches for the retailer than for 'amazon." The bottom line is that retailers need to be sure all relevant store and product information is easy to find online -- and also create a positive in-store shopping experience.

This post is brought to you by 123eGuides.com. 123 eGuides are a series of authoritative guides about branding, marketing and small business published exclusively in electronic format to provide maximum value at minimum cost.

Have you heard about the book, Boomer Brands?

1 Minute Advice: Keeping a Brand Fresh with Gen Z

Research suggests that members of Gen Z (ages 8 through 22) are more oriented toward advertising-free experiences, and that they sometimes don't even respond to traditionally branded products. That's why Doritos has launched an unusual and unconventional campaign that actually excludes the product's brand name and logo. Instead an "anti-ad" created for YouTube features the triangular-shaped snack and an unbranded bag. In a tweet, the company said, "It's the chip so iconic...we don't need to name it."

The brand, which is owned by PepsiCo, is confident the Gen Z audience will recognize the shape of the Doritos chip and connect with the campaign. While it could be a risky strategy, it could also stand out and differentiate the brand. Only time will tell.

This post is brought to you by 123eGuides.com. 123 eGuides are a series of authoritative guides about branding, marketing and small business published exclusively in electronic format to provide maximum value at minimum cost.

Have you heard about the book, Boomer Brands?

1 Minute Advice: Hotel Brands Proliferate

One category of brands seems to be exploding non-stop: hotel brands. According to The New York Times, hotel brands add brands at a blistering pace to differentiate their offerings and appeal to different audiences. As of June 2018, reports hotel research firm STR, there were 180 hotel chains with more than five U.S. properties.

Major hotel chains have brands across many segments, from budget to luxury. For example, Hilton and Hyatt each offer 17 brands. Marriott now has 30 brands after its acquisition of Starwood hotels in 2016. Some of Marriott's brands actually compete with one another, but they've retained them all. “We were able to push these brands apart and continue to provide varied experiences,” says Tina Edmondson, Marriott's global brand officer. Phil Cordell, Hilton's global head of brand development, warns, “If brands get too focused on a specific segment, that’s where things can run off the rails in the longer term...“The more you have, the more you have to be incredibly disciplined in ensuring that difference is there. Bigger isn’t always better.”

This post is brought to you by 123eGuides.com. 123 eGuides are a series of authoritative guides about branding, marketing and small business published exclusively in electronic format to provide maximum value at minimum cost.

Have you heard about the book, Boomer Brands?

1 Minute Advice: McKinsey's Considerations to Modernize Marketing

Marketing innovation is proceeding at a blistering pace, particularly when it comes to digital marketing. This requires marketers to keep up with modern demands. Consulting firm McKinsey shares six "governing considerations to modernize marketing" that could help organizations' marketing function excel:

1. How to centralize guidance and oversight
2. How to bring together marketing and IT (heart and brain)
3. How to build collaboration and agility
4. How to reinvent HR to meet talent demands
5. How to build flexibility into resource planning
6. How to make cultural change a continuous task.

According to McKinsey, "Modernizing marketing is a process that relies on multiple factors for success. Only by understanding what these are and by focusing on how to address them can marketers hope to get real value from digital."

This post is brought to you by 123eGuides.com. 123 eGuides are a series of authoritative guides about branding, marketing and small business published exclusively in electronic format to provide maximum value at minimum cost.

Have you heard about the book, Boomer Brands?