Page 32 - Branding Yourself and Your Business

28 ROBERT DRAKES

Again, this is what did in the big three automakers. Originally, the
different makes or brands from General Motors, Chevrolet, Buick,
Pontiac, Cadillac, and Oldsmobile were all distinguishable from each
other. However, over time the different makes and models started to
look so similar that consumers could not recognize what the make
was. This led to consumers losing interest in what General Motors had
to offer and before General Motors realized what they were doing to
their brand it was too late. Japanese automakers were smart and
chose a different strategy. Nissan and Toyota both released new
brands of luxury automobiles but were adept enough not to call them
Nissan Plus or Toyota Prime. They called their new brands Infiniti and
Lexus, respectively. This separated the luxury brand from what most
consumers see of Nissan and Toyota as automobile companies that
sell moderately priced cars and trucks but it remained under the
respective company’s umbrella.

When you make the decision to introduce another brand under
your company umbrella there are some steps that you can take that
will help you succeed. First, make sure that you keep it simple,
what-ever category your product is in, stay in the same category
and build upon the success that you have already had. Second,
pick one attribute for the new brand and stick with it. Look back at
Darden Restaurants, all they did was change the theme. It was still
in the restaurant business, the restaurants cater to the same
market, and there are minimal price differences between their
establishments. Third, make sure that the new brand is distinctive
and can stand alone. Finally, make sure that the parent company
maintains control over any new brands that are introduced to the
market. This will negate any rivalry between the parent company
and the new brand and with the parent company in control; they will
be able to make sure that the brands stay distinctive of each other.