Brand Failures
Brand Failures Brand Failures
278 Brand failures ‘was that they kept thinking of themselves as a camera. But the “[brand] vision” process taught us something: Polaroid is not a camera – it’s a social lubricant.’ If Polaroid had concentrated on the unique ‘sociable’ aspects of the brand, rather than the unique technological aspects, it would have certainly been less vulnerable when technology overtook its core product offerings. But by the end of the 1990s it had left it too late. Debts were mounting, and the brand was by that point associated with the Polaroid camera. The terrorist attacks of 11 September 2001 caused a slowdown in travel, and consequently a decline in demand for cameras and films. These bleaker market conditions proved too much. By that time Polaroid had amassed debts of almost US $1 billion, and the company’s share value slipped from a high of US $60 in 1997 to a low of 28 cents in October 2001. That same month, the company filed for bankruptcy. Lessons from Polaroid Be quick. Polaroid was slow to anticipate and respond to future trends, such as digital photography and one-hour photo shops. Don’t be over-protective. In forcing Kodak out of instant photography, Polaroid was defending its brand at the expense of the market. Very few brands can sustain a product category single-handedly over the long-term. Polaroid therefore went against ‘The Law of the Category’ as formulated by Al and Laura Ries. Namely, that ‘leading brands should promote the category, not the brand.’ Focus on values, not products. According to Kevin Roberts, the US chief executive of Saatchi and Saatchi, for a brand to be truly successful it needs to become a ‘lovemark’ rather than a ‘trademark’. In other words, the brand needs to inspire passion. Roberts cites Coca-Cola, Nike and Harley Davidson as classic lovemarks. In order to create a lovemark, Polaroid would have needed to focus on its value as a ‘social lubricant’ (to borrow John Hegarty’s phrase). This would have helped to increase Polaroid’s elasticity (see below). Be elastic. Branding author Jack Trout observed that companies are limited to one idea per brand. When that idea is the product itself, as opposed to the values it represents, brands become inflexible.
Tired brands 279 Feel it, don’t fight it. Polaroid’s early brand vision was to establish instant photography as a serious artistic medium. However, by the 1970s this vision was undermined by pop artists who loved its fun and frivolous associations. Polaroid resisted this image for too long, just as it resisted other external factors that impacted on the brand. Stay relevant. ‘Brands that don’t keep up can get lost quickly,’ says Peter Post of Canadian marketing firm Cosette Post in a brandchannel.com article by John Kavolefski. ‘They first become irrelevant, then invisible, and then they’re gone.’ Instead of exploiting the opportunity offered by digital photography, Polaroid was concentrating on developing a 35mm colour print film. Stay creative. ‘A lot of these older brands start to lose any kind of creativity in their strategic thinking,’ says marketing consultant, Bruce Tait in the brandchannel.com article. ‘The whole idea should be to insert originality into the strategic process, and push to be relevant and differentiated. There’s too much belief in marketing as a scientific process. People have too few ideas. The leads to sameness in strategy and that’s why brands die.’ Be essential. With the arrival of digital photography there is no longer a need for Polaroid’s style of instant photography. For instance, whereas building site managers used to rely on Polaroid in their professional life, they now use digital cameras to take on-site pictures. The only exception is in the legal field, as Polaroid film remains the only thing certain courts accept as evidence because it cannot be altered.
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- Page 276 and 277: 268 Brand failures 91 Ovaltine When
- Page 278 and 279: 270 Brand failures 92 Kodak Failing
- Page 280 and 281: 272 Brand failures tive strategy if
- Page 282 and 283: 274 Brand failures 93 Polaroid Live
- Page 284 and 285: 276 Brand failures launch of its SX
- Page 288 and 289: 280 Brand failures 94 Rover A dog o
- Page 290 and 291: 282 Brand failures 95 Moulinex Goin
- Page 292 and 293: 284 Brand failures 96 Nova magazine
- Page 294 and 295: 286 Brand failures The cycle of lau
- Page 296 and 297: 288 Brand failures As with most bra
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- Page 300 and 301: 292 Brand failures to the stores in
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- Page 304 and 305: 296 Brand failures market is 18-24
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- Page 308 and 309: 300 References
- Page 310 and 311: 302 References Malmsten, E, Portang
- Page 312 and 313: 304 Index candour see honesty Capit
- Page 314 and 315: 306 Index ideas failures 71, 82 hea
- Page 316 and 317: 308 Index and extension 93 New Coke
- Page 318: 310 Index Taiwan 163 tampons 137-39
Tired brands 279<br />
Feel it, don’t fight it. Polaroid’s early brand vision was to establish instant<br />
photography as a serious artistic medium. However, by the 1970s this<br />
vision was undermined by pop artists who loved its fun and frivolous<br />
associations. Polaroid resisted this image for too long, just as it resisted<br />
other external factors that impacted on the brand.<br />
Stay relevant. ‘<strong>Brand</strong>s that don’t keep up can get lost quickly,’ says Peter<br />
Post of Canadian marketing firm Cosette Post in a brandchannel.com<br />
article by John Kavolefski. ‘They first become irrelevant, then invisible,<br />
and then they’re gone.’ Instead of exploiting the opportunity offered by<br />
digital photography, Polaroid was concentrating on developing a 35mm<br />
colour print film.<br />
Stay creative. ‘A lot of these older brands start to lose any kind of creativity<br />
in their strategic thinking,’ says marketing consultant, Bruce Tait in the<br />
brandchannel.com article. ‘The whole idea should be to insert originality<br />
into the strategic process, and push to be relevant and differentiated.<br />
There’s too much belief in marketing as a scientific process. People have<br />
too few ideas. The leads to sameness in strategy and that’s why brands die.’<br />
Be essential. With the arrival of digital photography there is no longer a<br />
need for Polaroid’s style of instant photography. For instance, whereas<br />
building site managers used to rely on Polaroid in their professional life,<br />
they now use digital cameras to take on-site pictures. The only exception<br />
is in the legal field, as Polaroid film remains the only thing certain courts<br />
accept as evidence because it cannot be altered.
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