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O P I N I O N
A strong brand: What does it take? Familiarity, loyalty, promotion, marketing investment, staff satisfaction, and corporate reputation – to achieve these things you must be consistent.
D isney is the world’s most powerful brand. The Brand Finance Global 500 report also ranked Lego and Ferrari on the No. 1 spot in recent years. Though it is a pretty tall order for an AEC firm to set our sights on this position, there is a lot these big companies can teach us about strengthening our brands.
Paul Greenhagen FIRM FOUNDATION
First, what is brand? There are many definitions, but, I like this simple version: “Brand” is what your target audience thinks of when they hear or see your brand name. When I hear the name Disney, or see its logo, I automatically associate it with a certain level of quality and experience. Other entertainment companies might do the same, but the image I get with Disney is simply different than, say, Warner Brothers. Lego brings back early memories of constructing things with my kids, and Ferrari makes me think of taking sharp corners at high speeds in absolute luxury. OK, I’ve never owned a Ferrari, but hey, a guy can dream. The point is, these are all instant and good feelings
that I get when I come across these brand names. Each of these companies works hard to instill a certain response from us because they understand the value it adds to their business and bottom line. A 2015 study by Brand Finance showed that highly branded businesses and those with strong brands can outperform the market. So, how do we “Familiarity and loyalty are the outside results we get when we make a concentrated effort to promote and market, and consistently do a good job.”
See PAUL GREENHAGEN, page 12
THE ZWEIG LETTER August 22, 2016, ISSUE 1165
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