When their brands fail companies are always taken by surprise. Because they have had faith in their brand from the start, otherwise it would never have been launched in the first place. However, this brand faith often stems from an obscured attitude towards branding, based around one or a combination of the following brand myths:<\/p>\n
This is blatantly untrue. In fact, good products are as likely to fail as bad products. Betamax, for instance, had better picture and audio quality than VHS video recorders.<\/p>\n
Wrong. Brands fail every single day. According to some estimates, 80 per cent of all new products fail upon introduction, and a further 10 per cent die within five years.<\/p>\n
This myth can be dismantled with two words: New Coke. No company is big enough to be immune to brand disaster.<\/p>\n
Advertising can support brands, but it can\u2019t build them from scratch. Many of the world\u2019s biggest brand failures accompanied extremely expensive advertising campaigns.<\/p>\n
There may be a gap in the market, but it doesn\u2019t mean it has to be filled. This lesson was learnt the hard way for RJR Nabisco Holdings when they decided to launch a \u2018smokeless\u2019 cigarette. \u2018It took them a while to figure out that smokers actually like the smoke part of smoking,\u2019 one commentator said at the time.<\/p>\n
This may have once been the case, but now the situation is reversed. Strong products now help to protect brands. The product has become the ambassador of the brand and even the slightest decrease in quality or a hint of trouble will affect the brand identity as a whole.<\/p>\n
Thank you for reading on Branding Myths<\/strong>, if you have questions or comments feel free to add them below<\/p>\n","protected":false},"excerpt":{"rendered":" Read below or watch our video to learn about grand failures and associated branding myths When their brands fail companies are always taken by surprise. Because [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":4313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[346,1,304],"tags":[482,284,495,481],"class_list":["post-4312","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-branding","category-expert-wordpress-developers","category-marketing-advertising","tag-brand-issues","tag-branding","tag-branding-myths","tag-branding-myths-exposed","post_format-post-format-video"],"_links":{"self":[{"href":"https:\/\/xtremefreelance.com\/wp-json\/wp\/v2\/posts\/4312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xtremefreelance.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xtremefreelance.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xtremefreelance.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xtremefreelance.com\/wp-json\/wp\/v2\/comments?post=4312"}],"version-history":[{"count":0,"href":"https:\/\/xtremefreelance.com\/wp-json\/wp\/v2\/posts\/4312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xtremefreelance.com\/wp-json\/wp\/v2\/media\/4313"}],"wp:attachment":[{"href":"https:\/\/xtremefreelance.com\/wp-json\/wp\/v2\/media?parent=4312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xtremefreelance.com\/wp-json\/wp\/v2\/categories?post=4312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xtremefreelance.com\/wp-json\/wp\/v2\/tags?post=4312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}