This is done for almost all popular brands whose leaders are not familiar with basic product and brand management knowledge. Failure and adherence to the strategic brand of a company will make it possible for the brand to grow and think itself without thinking about how it can lead to its failure or at least some unplanned transformation.
The way to lose your way is usually to something like this. The brand starts with a spotlight that is often the same. He then creates a small but faithful follow up, stimulates momentum in the mouth and the marketing world, becomes more and more popular, is growing in status, appears in special shops, becomes more and more popular, moves to more and more mainstream, loses some of his cache to make Wal- Everyone will be present and will be a commodity, and now only another shelf for the consumer. And your original customers are probably gone.
Now, it's great if you're on the shelves you want to reach Wal-Mart or Target (shelves). But this is not so great, for example, if you originally wanted to see the highest quality service providers that can only be stored in Neiman or Chess. But somewhere along the way, luring a lot of money with a massive exposure is often too much to resist, and companies leave any strategy and only find another element on the wall.
This is best done. Do you remember when Columbia Sportwear was considered a small status brand? When was Eddie Bauer considered high quality? If an Ironman is 140.6 miles? There is no right or wrong here, only choice. Do you want Calvin Klein to sell your products in TJMaxx or just rent them in higher-order stores?
Does it seem like a silly conversation? No. There is a value in the position of consumers. Which one would you choose? Chevy or BMW? Are Baume & Mercier or Seiko? You will probably pick up BMW and Baume & Mercier. But why? In fact there is a little bit of difference in what you buy. They will both tell you what time it is and get to where you want to go. In fact, Chevy and Seiko are likely to have much better experience from the point of view of reliability and cost. But we still love our brands.
Do not underestimate the name of the name. From a marketing point of view, a name accelerates the process of informing consumers. A brand name or trademark allows the company to communicate with a simple name or logo. From an economic point of view, this efficiency reduces transaction costs. From the point of view of marketing, it reduces noise and allows the clarity of the message.
A good example of this is to look at Apple. At a glance, their logo is able to communicate with everything they have worked on in creating a brand. Look at the Apple logo and think about quality, iPad, uniqueness, cutting-edge design, modern, reliable, expensive Steve Jobs, iPhone, market leadership, etc. there are a lot of important information in that little piece of fruit.
So after the little marketing review behind us, I turn to the World Triathlon Corporation (WTC). Most people have never heard of such an organization, but most people have at least heard their most popular brand; Ironman. Ironman meets all the criteria that are considered a bottom-up story. As noted in How Did This Ironman Thing Ever Started, this small, local event in Hawaii at the end of the 70s has changed to a mega marketing device that carries everything on watches and running shoes. However, as the name grew, it seems to have lost its way. The Ironman brand or product or just one event – or all three? The fact that you are in conversation has to say that there is a problem.
WTC has become Ironman's brand and product ever since. This is perfectly acceptable as many companies start this way and forever connect to their first product. Your favorite soft drink is a good example of this. When new products were developed in the 40s and 50s such as Fanta and Sprite, new brands were created. They were not sold as Coke Fanta or Coke Sprite. You can imagine that the confusion of the grocery store looked at the walls of products that they called Coke. The message would be recorded by everyone. There is no doubt; of course there is a lot in the name.
So where's the problem going? The WTC was a very clever thing when they reached the traditional 140.6 mile Ironman and created a shorter distance of 70.3 miles. Half as in marathon madness, it opened up a whole new audience for ultra-distance triathletes and introduced many athletes to Ironman's brand. And another positive step for the growth of sport, the WTC has set up a plan that has created an Olympic long distance race series.
Of course, this is not from the goodness of their heart. The WTC allows millions of contests, franchises, entry fees and television contracts with NBC / Universal Sports. I'm all looking for money and money for the WTC to take full advantage of this opportunity. However, a strange thing happened on the way to the bank. The brand has lost its way.
It is possible that the simple reason for the prospect, or perhaps the exploitation of the brand's popularity, the WTC has named the 70.3-mile "Ironman 70.3" series. So now things are common, such as: What is Ironman? How far is Ironman? Why is Ironman called? – Oh, you were in Ironman Florida – did not you do one of Ethel's in Orlando last weekend? Ironman's name has diluted and now provides tiny, accurate information that even triathletes need to pause in a conversation and clarify what differences are being discussed. All Ironman. It's like the copy that Coca-Cachen has in each drink. He lost the punch.
So is anyone really interested? When buying a brand; I care. For the same reason, he would not change his BMW logo on a Yugo tag. And if you handle a brand, take care of it. Inadequate attention by WTC to the Ironman brand is a dangerous area that WTC has given to the Ironman brand and is a dangerous area for the organization that is heavily tied to over-appreciated entry fees and the brand's healthy position and strength.
This disconnection was aggravated by the two marketing mistakes of WTC. First, they tried to sell special access to services through a program that had little real value and raised it to $ 1,000 each year (this program fell a few days after the complaints were over). Secondly, the lack of control of the brand was fully visible when the 2010 Miami Ironman 70.3 ran out of the race at the start of the race, changing the train path just before the start of the race and launching cyclists on busy crowded Miami roads with little supervision. The WTC replied that it was not their fault. They sold the name to a local tournament manager who did a bad job at the tournament. WTC 2011 offered IM 70.3 free entry, but I doubt it will help many people who have been doing this event for most of the year.
The brand loses its cache position in the triathlon community. I have already seen that. From hardcore athletes to week-end warriors are experiencing disturbances that point to growing dissatisfaction with the brand, as they point to serious trade, bulk marketing, and lack of parenting of major clients and products; the real Ironman long distance athletes. These athletes (Ironman's main customer) are starting to look for non-Ironman events. Essentially, they look for the old Ironman experience.
Some of the damage has already taken place, but there is a way to redemption. The first thing to create independent brands at different distances (product families) is to handle them. Lexus customers expect a different experience than those who buy Toyota. The WTC must recognize that each and every group of athletes wish to contribute to a specific event. If you use the Ironman brand in all races, you deny everyone the enjoyment. Full Ironman distance athletes dazzle themselves because the brand is shorter in short term races. Likewise, the 70.3 long distance drivers have to keep explaining that they did not actually make "Ironman", a half-year Ironman and so on … very annoying.
Maybe the repair is in the works. I've already seen a single version of the name and logo of the new Olympic Games and not called Ironman (thanks to God). The "5150 Triathlon Series" circuit was replaced by "I" by Ironman instead of 5150. Hopefully they will avoid the use of M-Dot and will maintain a premier event at the 140.6-mile Ironman distance.
The next step to redemption is to rename the 70.3 mile race. I do not have bones with these species. In fact, I like this distance and I'm doing it myself. But 70.3 is not Ironman. I'm not the name of events, but I suggest using the same logic for the 5150 series. Let's say something completely different and passively connect the master brand. Anyway, and I'll tell you again, find a new naming agreement because 70.3 miles is simply not Ironman.
The Ironman brand is both grown up and away from Hawaiian roots. There is no doubt that there is no line that promotes sport by using the brand and causes deceptive steps and overexposure. Hopefully, the 5150 series is the start of the right way to handle this coveted name.