The catastrophe brutalizing the banking industry is at the forefront of both the news and main street conversations around the world. A Gallup survey measuring consumer confidence in banks taken in late September showed an unprecedented drop from 40% in mid-July and is the lowest level in thirty years. Only 21% of consumers polled are confident in U.S. banks today. This erosion of confidence (more…)
Choosing a Name is deceptively difficult.
Many think coming up with a name for a company or product or service should be simple. Some may even think it’s not even very important, convinced there are “bigger’ issues than “naming” to wrestle with when launching a company or product or service.
The issues surrounding the naming of Houston’s new major league soccer team, however, highlight a fact that is all too frequently overlooked. Choosing a new product, service or company name can be extremely important. The process is a surprisingly delicate balance of art and science. (more…)
It’s about connecting with fans. It’s about communicating. It’s about building a brand.
Fans want a team to rally around, a team we can be proud of, and believe in, and support, a team that is relevant to who we are as a group. Fans want to be loyal.
The penalty that businesses pay when they ignore the power and value of strategic branding is usually fatal, especially when facing savvy competitors. This is true even if they are the category leader.
Attention Kmart Shoppers! The bankrupt discounter is ending its 40-year presence in Houston, closing all 17 area stores and eliminating hundreds of jobs as the nationwide chain sheds low-performing stores. The giant retailer, formerly one of the best known in the U.S., announced this past week it would shutter another 326 stores and lay off 37,000 workers nationwide. It is a classic example of a company failing to comprehend the critical need for competitive positioning in a highly competitive economic environment.
