No. 1 BrandsLessons on Being (and Staying) No. 1

Marshall Strategy

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Kodak 1976: 90% share of US photo film market 2011: Bankrupt

RIM (BlackBerry) 2009: More than 20% global smartphone market 2014: Less than 1%

Wang Laboratories 1982: Supplied office equipment to 80% of the 2,000 largest corporations in the US

1992: Bankrupt

Few No. 1 Brands Stay at the Top

Once dominant companies that failed “ … stubbornly clung to what they thought they were instead of what they needed to be.”

– Joe Nocera, “How Not to Stay on Top”

The New York Times, Aug. 19, 2013

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How Not to Stay on Top

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How Do Top Brands Fail?

They stick to what’s worked in the past.

They freeze their identity instead of evolving it.

They miss (or ignore)warning signs.

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Warning Signs

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• Your industry is being disrupted by new technology or competitors

• Your organization is growing complicated or fragmented by acquisitions, subsidiaries, spin-offs or silos

• You are being misperceived by key audiences

• Growth is slowing

How should a brand adapt to change to stay No. 1 and relevant? “The best way to predict the future is to invent it.”

– Alan Kay

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The Key to Success

1. Acknowledge your past, but look to the future

Are you spending enough time anticipating what’s coming next so that you can be present in the future?

How to Stay No. 1

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2. Don’t confuse equity with relevance

Heritage is important, but it’ll take more than that to keep you at the top.

How to Stay No. 1

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A brand's power derived from the goodwill and name recognition that it has earned over time.

Brand Equity Brand Relevance

The alignment of a brand – its attributes, identity and personality with the primary needs and wants of its target audience.

www.businessdictionary.com www.montanabranddevelopment.com

3. Focus on what customers love about you

Kodak was loved for making memories, not for selling film. What makes you matter?

How to Stay No. 1

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How to Stay No. 1

Acknowledge your past, but look to the future

Don’t confuse equity with relevance

Focus on what customers love about you

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What gets you to the top won’t keep you there, but these tips will help.

We work with a number of brands that are No. 1 in their industries (Google, Caltech and many others). Our clients continuously want to improve. They recognize that what got them to the top won’t necessarily keep them there.

Please contact us to learn more about our work in identity and brand strategy: info@marshallstrategy.com

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© Marshall Strategy 2014