Close
 

The importance of protecting your brand

  • Opinion
  • August 8, 2017
  • Paul Keane
The importance of protecting your brand

I have often wondered at the power of a brand and its influence on whatever market it may serve. Brands that come quickly to mind typically are McDonalds, and KFC. However, lesser brands also serve their own sector of the community very well and in turn are supported.

It was with a sense of satisfaction and "loyalty" that I observed that Banks Group, a shoe store group which had originated in Wellington had gone into receivership and then been rescued by a member of the Banks family and it seems will continue trading. I remember the original store well, it was located in Lower Hutt’s high street, and it was a faithful servant to the local and wider community. Naturally it was a family business and as such, the relationship between the company and customers was somewhat personal. 

Consequently it was not really a surprise that a family member rescued the company from receivership

Brands are seriously protected both by the company they serve and the people who work under the brand, some believe in the brand however more than others, and in some cases consumers are dominated by a brand rather than the other way round as demonstrated by the McDonald's and KFC examples.

Well represented brands however particularly in publicly listed companies are essential as a relationship between the company and its performance, a recent example of which was the "Fletcher" brand affected by a decline in its profit warning. Naturally this then impacts on the shareholding value, and investors will ponder the value of the shares and the "brand" comes under scrutiny.

Another example was the similar downsizing of the profit forecasting made by The Warehouse Group

As a result negative comments emerge about The Warehouse and its performance, something the brand could do without.

Brands therefore are a key element of any business. Once a brand is created, its owner is constantly looking at ways of protecting and enhancing its representation. Happy employees who understand the culture of the brand will inevitably be the keynote to the company's success.

It isn't always about growing the brand which is what ultimately led to the collapse of the Banks Group, but rather protecting and enhancing the brand we have, protected by good corporate governance, culture, and most importantly recognising what the brand stands for by its users, employees and stakeholders. Retention of Banks Shoes as a brand is therefore important not just to its long term customers but by the traditional values that its original founders perceived at the outset back in the 1930s.

We all go to a lot of effort to develop a new brand; signage, social media and the original culture all play a key part. Sometimes it is important that we pause and consider the part played by the brand we represent whatever form of business that brand may be part of. Sooner or later, it will reap the benefits of its success or conversely its failure!

 Paul Keane is a registered property professional and has vast experience in New Zealand’s commercial property industries. He provides retail and property consultancy including development management to many New Zealand property owners, developers and city councils. This post originally appeared on RCG's blog.

​ ​

This is a community discussion forum. Comment is free but please respect our rules:

  1. Don’t be abusive or use sweary type words
  2. Don’t break the law: libel, slander and defamatory comments are forbidden
  3. Don’t resort to name-calling, mean-spiritedness, or slagging off
  4. Don’t pretend to be someone else.

If we find you doing these things, your comments will be edited without recourse and you may be asked to go away and reconsider your actions.
We respect the right to free speech and anonymous comments. Don’t abuse the privilege.

 

Military-style semi-automatics ban announced

  • News
  • March 21, 2019
  • The Register team
Military-style semi-automatics ban announced

As of 3pm on March 21, a wide range of semi-automatic weapons have been reclassified under section 74A(c) of the Arms Act as requiring an E endorsement on a firearms license. This means they can no longer be sold to those with A-category gun licenses, and their purchase now requires police approval.

Read more
 
 

Retailers gather for insights at NZ Retail and The Register's breakfast

  • News
  • March 21, 2019
  • The Register
Retailers gather for insights at NZ Retail and The Register's breakfast

NZ Retail and The Register’s sales and marketing breakfast saw dozens of Kiwi retailers come together to network, sharing tips and tricks and absorbing expert advice.

Read more
 
 

Who stole Christmas?

  • News
  • March 21, 2019
  • Kelly Withers
Who stole Christmas?

Results are starting to trickle in from Christmas 2018/2019, and for many retailers, they're a little disappointing. Paydar chief executive and co-founder Kelly Withers explores the data.

Read more
 

Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

 
topics
Concept to closet
Business coverage of New Zealand Fashion Week.
Town centres
A positive retail environment over the past 12 ...
Amazon Arrival
Keeping up with all things Amazon as it ...
The Retail Yearbook 2017
As we battle our way through the busiest ...
Hospitality enhancing retail
Some think food and integrated hospitality offerings will ...
The future is bright
We spoke with four retailers in their twenties ...
Spotlight on signage
At first glance, the humble in-store sign might ...
Red Awards 2016
The Red Awards for retail interior design celebrate ...
Auckland Unitary Plan
Auckland is changing. The Unitary Plan will decide ...
How to open a store
Sarah Dunn considers what it would take to ...
All things to all people
Kiwi retailers share their omnichannel strategies.
Rising stars
Retail's top young achievers.
Delivering on your promises
The sale isn't over until your item is ...
Retail in heartland New Zealand
Retailers keep the regions pumping, but how strong ...
Sisterhood
Women in retail help one another. We spoke ...
The changing face of retail
Shifting demographics are creating big changes in New ...
The retail yearbook
With the help of experts in the retail ...
Retail rogues
We put the spotlight on staff training. Jai ...
Here come the giants
Topshop has arrived in Auckland’s CBD, David Jones ...
Window shopping: A spotlight on social media
Sarah Dunn and Elly Strang look at how ...
From retail to e-tail
Ecommerce has become part of the way mainstream ...
Loyalty in the digital age
How are retailers maintaining loyalty? Sarah Dunn, Elly ...
The Innovators | In partnership with Spark Business
Technology is rapidly changing the retail industry as ...
 

Chinese businesspeople raise millions for Christchurch victims

  • News
  • March 21, 2019
  • Radio New Zealand
Chinese businesspeople raise millions for Christchurch victims

A group of visiting Chinese businesspeople have raised $2.35 million for victims of the Christchurch mass shooting.

Read more
 
 
News

The Retail NZ Awards: What does it take to be a winning retailer?

Take this time to shine with the upcoming Retail NZ awards, a chance to show the retail industry what makes your business stand out. No ...

 

Hunting & Fishing New Zealand voluntarily pulls military-style assault weapons from sale

  • News
  • March 20, 2019
  • Sarah Dunn
Hunting & Fishing New Zealand voluntarily pulls military-style assault weapons from sale

In the wake of the attack on Christchurch’s Muslim community on March 15, strong calls for changes to New Zealand’s gun last have been made. Trade Me was the first retailer to act, halting the sale of all semi-automatic weapons on its platform, and it has now been joined by Hunting & Fishing New Zealand.

Read more
 
Next page
Results for
Topics
Jobs
About us.

The Register provides essential industry news and intelligence, updated daily. And the digital newsletter delivers the latest news to your inbox twice a week — for free!

©2009–2015 Tangible Media. All rights reserved.
Use of this site constitutes acceptance of our Privacy policy.

Advertise
The Register

editor@theregister.co.nz

Content marketing/advertising? Email anita.hayhoe@icg.co.nz or call 022 639 3004

View Media Kit

}