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| Opportunities & Exposures: Marketing |
Star Crossed
Robert Passikoff
06/01/2006
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Yet even very famous spokespeople need to be more than just
famous. Their association with the brand they are pushing must first and
foremost reinforce that brand’s meaning. Madonna was a disaster for Versace. She
had reinvented herself as a performer-author-mother-celebrity so many times that
she did not communicate any single, easily understood value.
Some retailers forget how their brand strength needs to be
measured in the 21st century. It has nothing to do with awareness. Many
retailers are already as well-known as their celebrity spokespeople. They need
to be relevant. But relevance–a surrogate for meaning–is a measure that comes
from understanding what meaning the customer attributes to the brand. This comes
from understanding how the consumer views a category, compares offerings and
behaves positively toward the brand.
Retailers and potential investors should understand that convenient locations
and reasonably priced merchandise that is neatly presented and civilly sold in
stores are only the table stakes. They are not good enough reasons for
individuals to patronize or invest in such retail entities. Category placeholder
retailers, like Gap, are increasingly facing the danger of turning into
commodities. And in this sector, commodities do not represent the best possible
investment.
Robert Passikoff, PhD, is founder and president of Brand Keys, a
New York brand and customer loyalty research consultancy. |  |
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