|
So why all the hubbub? What is it about the Missoni Brand that caused a ‘fatal brand attraction,’ and mud on the face of Target executives for not projecting such ferocious demand.
While our world of Consumer Packaged Goods isn’t exactly the same as a fashion icon, there are certainly branding parallels we can take away from this experience:
1. Brand Definition – Missoni is a highly distinctive brand, characterized by bold colors, high-contrasts and their famous zig zag pattern. Are you acutely aware of what drives your brand’s appeal? Once you understand its’ unique strengths, you can leverage those strengths in advertising, promotion, and new product platforms.
2. Brand Quality – Even at mass-market prices, Missoni executed a quality line. What drives quality in your category? By having a clear idea of what characteristics are considered the gold standard of quality in your category, you can leverage these insights in product formulation work and in marketing communications.
3. Brand Value – Missoni hit a home run at Target, by maintaining Brand Definition and Brand Quality while also delivering superior Brand Value. Is your brand considered a good value for the money? Value doesn’t have to mean it’s the lowest price on the shelf. But it does mean that having strong Brand Definition and Brand Quality based on desired, relevant attributes, boosts perceived Brand Value.
|
