Thursday, February 12, 2015

Protecting the brand

Company acquisitions happen every day. We usually only hear about the big ones like American Airlines buying US Airways, Fiat buying Chrysler and Kraft buying Cadbury, but lesser-known companies are bought and sold all the time. As smaller companies become part of larger holding companies or investment firms, they run the risk of losing their luster, along with their brand equity. In the face of competitive and consolidating markets, protecting brand value is more important now than ever before.

Protecting a brand is how you build long-term value in a business. It goes beyond the tangible assets, the bricks and mortar, of a company to something that translates to so much more. It’s a fact that companies with well-known brands can sell their products at a much higher margin. The greater a brand’s equity, the larger the value at which a company can sell its products. And the greater the value of the brand, the greater the value of the entire company.


Barry LaBov
LABOV Marketing Communications and Training
www.labov.com

Wednesday, February 4, 2015

What's the idea?

There’s a lot of idea generation going on in the world today. Some ideas end up changing life as we know it. Others never make it off the ground. The process for coming up with those ideas is widely varied. Alex Osborn popularized the term brainstorming in his 1953 book Applied Imagination. While he established rules to follow during brainstorming sessions, there’s really no one right way to do it. There are hundreds of different idea generation techniques you can use. And sometimes applying several different techniques to a particular challenge can yield the greatest results.

One of the most important elements of a successful brainstorming session is to have fun. There’s nothing more cringe-inducing than a brainstorming session where you could hear a pin drop and the energy level is non-existent. Make up your own brainstorming technique or use one that already exists, but by all means, have fun when you’re doing it. The next great idea is just around the corner. 


Barry LaBov
LABOV Marketing Communications and Training
www.labov.com

Thursday, January 29, 2015

Re-igniting the brand signal

Established, respected manufacturers who’ve been around for decades, even centuries, can lose their brand signal. Their uniqueness and everything they do that makes their company and products special can get lost when it’s not consistently leveraged. After all, when you’ve been in business for years and years, shouldn’t everyone already know what makes you special? It’s a risky assumption considering industry newcomers can gobble up market share by more aggressively touting their advanced technologies, the products they’re developing or the streamlined processes they’re using. All the while, they can make long-standing companies look like dinosaurs.

Brand re-engineering can be a powerful tool in re-igniting a company that has lost its brand signal. Customers, employees and stakeholders want to feel confident in a brand’s vision. That means companies must leverage everything they do that makes them special in the marketplace. That un-named process that makes a product far superior to others; that million dollar investment in new technology; that cutting-edge manufacturing method—they all have great potential, if leveraged correctly, to help a long-standing company retain its place at the top of the industry and exponentially increase its success.


Barry LaBov
LABOV Marketing Communications and Training
www.labov.com