Brand Disasters of 2010
Brand Disasters of 2010
Brand Keys pokes some “fun” at brands that participate in brand bungles and marketing misdemeanors year-round in our blog The Keyhole.
We are unfailing in our belief that brands should be the beneficiaries of their branding and marketing efforts, and see positive consumer behavior in the marketplace: Sales; Profitability – things like that. Happily, we have metrics that provide a consumer’s eye view of the categories in which brands compete and because those metrics are emotionally-based they are predictive of what will happen, good or bad, in the months ahead.
When it came to 2010’s brand and marketing disasters, we reviewed the balance sheet and offer the following:
1. BP
The brand fell from 1st to 7th (of 7) on the Brand Keys Customer Loyalty Index when the well exploded. UK’s YouGov polls indicated no negative affects to the brand, while the financials suggest the brand has lost all of its value in one year.
2. Toyota
The recalls – and attendant negative PR allegations that top execs knew, but failed to do anything – and liability suits resulted in a loss of nearly one quarter of the brand’s value.
3. Johnson & Johnson
Recalls can kill a brand, especially when you’re talking about medicine for infants and children, having to shut down plants, and stop distribution of your biggest names. Harder to swallow is a brand hit of nearly 30%.
4. Blackberry
Once the darling of businesspeople and of Wall Street, the brand has lost out to the iPhone, Android-based phones, and Samsung’s and LG’s (very) smart phones. Bottom line: brand value down nearly a third.
The best thing about these lists is it’s the end of the year, and brands can put it all behind them – but only if they can get out in front of consumer expectations.
December 16, 2010