Rebranding Greece

Brand Greece certainly has a perception problem. While other EU countries have worse economic indicators regarding debt and fiscal discipline,  Greece  easily is considered Europe’s top laggard and a  prominent member in the PIGS club. Greeks are the ones that according to Eurostat are  working more harder in EU (30% more that the Germans and the others in the European North … not included the usual second unregistered job sometimes ) and are consider lazy !! So who to blame about that? The answer is ..Zorba, according to  Peter Economides, a prominent branding guru. Peter Economides is a Greek  brand strategist with a global perspective. Owner and founder of Felix BNI based in Athens, Peter is a former Executive Vice President and Worldwide Director of Client Services at global advertising agency McCann Erickson Worldwide and Head of Global Clients at TBWA\Worldwide. You can see the relevant slide presentation here and watch a  recent video  with his speech about ‘ Brand Greece’ and some other  big misconceptions here. 

Towards the customer obsessed brand?

Welcome to the Age of the Customer and invest accordingly says Josh Bernoff  of Forrester Research , author of a new report titled "Competitive Strategy In The Age Of The Customer". According to the report, previous sources of dominance (ie  manufacturing, distribution, even information mastery ) are now just table stakes. This is the age of continuous disruption. Your relationship with customers is the only thing that enable you to survive that disruption. Companies must be more than customer focused, they must be customer obsessed. A customer obsessed company focuses its strategy, its energy, and its budget on processes that enhance knowledge of an engagement with customers, and prioritizes these over maintaining traditional competitive barriers. An interesting piece of work. Find more here.

Restoring Confidence in Brands: What’s your Big Idea?

”Business (and brands ? ) is a necessary evil in society… only the worst sorts of people are involved”, Plato,  the ancient Greek philosopher used to say.

Corporate power, accumulated by the “Arrogant Capitalism” of the inequalities, is dramatically deteriorating, also as a result of the economic crisis. “Disaster Capitalism”(see Naomi Klein’s latest book) and the School of Chicago failed. Now  “Nice Capitalism” is wanted (see at Amazon Costas Kataras latest book here). Long before the crisis, a number of studies showed a growing lack of trust in business and their leaders,. For example, only ¼ of the public trust them. Further on, brand importance goes also steadily down. For example, brand loyalty today is only 9%, from 40% some years ago. The crisis also showed that the notion of “Powerless State” is a myth. Society is now pressing harder for a new “corporate social contract “ and the new issues for the businesses are endless, including: regulation, environment, unions, privacy, safety, off shoring, civil society, governments as owners, consumer activists, NGOs and others. How modern corporations and brands could respond to these strategic and organizational challenges, beyond simplistic CSR, “Green Wash” practices and the recently invented by brands concept of “social missions in the supermarket shelf? . And this, at a moment where “shareholder value is growing increasingly irrelevant as government and society take a larger role in shaping business and industry. This discussion is about sharing ideas. So I am very pleased to ask you what is your big idea on how to restore confidence in brands. Please join the conversation by providing your best idea by sending an email at: costas@costaskataras.org

Arrogant Brand? You're Dead To Me!

It’s almost three years now, and before the economic crisis, that I wrote my book “ Nice Capitalism- A Secret Journey to the Death of the Arrogant Brant”. Since then, continuously and steadily new research data and studies are confirming my theory. Recently, I was very pleased to read an article in S+B magazine presenting fresh data from a survey in the context of Young & Rubicam’sd Asset Valuator (BAV) . According to the article “among the once-prized brand attributes that declined in this period were:“exclusive” (down 60 percent), “arrogant” (down 41 percent), “sensuous” (down 30 percent), and “daring” (down 20 percent). On the opposite side of the scale, the brand attributes Americans found more important as they began to sense the impending recession and then suffered through the crisis were: “kindness and empathy” (up 391 percent), “friendly” (up 148 percent), “high quality” (up 124 percent), and “socially responsible” (up 63 percent). But if the Death of the Arrogant Brand is an inevitable reality, which are the new emerging species in today’s Brand Ecosystem? The book explains why a number of emerging forces could have devastating effects on brands and lead to the rise of a new species of brand, “Nice Brands” and “Nice Capitalism”, two developments that are clearly interrelated, as the book explains, which usually lead to happier people and more “Happy Nations”, particularly in Europe. Find more in my book here!

Desperate Brands (…for Media )

Media fragmentation—and its resulting complexity of choices—remains the biggest challenge facing Unilever and its agencies. Brands can be part of the answer, by connecting media channels in an organized and compelling way, according to Weed. After all, as he sees it, brands simplify life and can simplify the media scene as well. To Weed, the chief marketing and communication officer at Unilever, modern marketing embraces the convergence of entertainment, media and brands. He reiterated that point several times during an interview at the 4A’s Transformation 2011 conference in Austin, Texas. See more here.

Nice Brands Finish First ? - The Emergence of New Species in the Brand Ecosystem

Analysis is showing that brands today, contrary to what is widely believed are forced both off the market and out of the hearts and minds of people. A number of emerging forces or "known unknowns" have been identified that could have extreme and devastating effects on brands. This leads to the emergence of a New Species in the Brand Ecosystem and the rise of "Nice Brands", a clear winner in the new "brandscape" in comparison to their "Arrogant Brands" counterparts. How to address this colossal corporate threat is a huge challenge for modern corporate leaders and the "Nice Way" strategy proposed could create a clear competitive advantage in our turbulent times. The above was the key massage of the presentation by Costas Kataras at BRANDNEWDAY Conference in Brussels few weeks ago, at the Royal Flemish Theater. At the event were presented new platforms, the shift towards social, content marketing, conversation management.The integration of new media with the classics and the ever changing redefinition of life values by consumers make it both interesting and tough to truly understand the needs of the consumer and to act on them. What's the future of brands and what kind of role does advertising play in it, was a common theme in most discussions. Some of the marketing world's foremost thinkers and talkers concerning this future minded topic presented, including Sir Martin Sorrell, Chief Executive Officer of WPP Group, as opening key-note speaker. To learn more about the Nice Brand paradigm in the emerging new brand ecosystem download for free and read the book “Nice” Capitalism- A Secret Journey to the Death of the Arrogant Brand” click here . If you want a copy of the presentation by Costas Kataras send an email at: info@costaskataras.org or click here. For a Darwinian approach to the essence of the “Nice” Paradigm, see a video series by Richard Dawkins titled “Nice Guys Finish First” here.

When the Social Media Bubble Burst

The social media bubble is about to burst says Axel Schultze, social media practitioner, author of “Channel Excellence”. People are recognizing already that the endless hours of watching the incoming streams from Twitter and Facebook or all the status updates on LinkedIn are hours wasted. All the paid tweets and people or agencies, who have been hired to tweet are not going to contribute to the bottom line. And the fan pages people build to get "fans, followers, connections" are just hopes that it will do something for the business – but it won't.

Axel seems to have a lot of supporters. "Despite all the excitement surrounding social media, the Internet isn't connecting us as much as we think it is. It's largely home to weak, artificial connections, what I call thin relationships", says Umair Haque, author of The New Capitalist Manifesto: Building a Disruptively Better Business, in the Harvard Business Review .During the subprime bubble, banks and brokers sold one another bad debt — debt that couldn't be made good on. Today, "social" media is trading in low-quality connections — linkages that are unlikely to yield meaningful, lasting relationships, says Umair. Further on, Social Media Advertising it seems that is in early infancy, too: represents less than 1% of global industry total, says a recent Deloitte report. Despite the fact that social networks look likely to surge through the 1bn user mark in 2011 and will deliver 2trn advertisements, Deloitte predicts that advertising revenue will remain at a US$5bn, or US$4 per member. It says this represents less than 1pc of the global industry total.“That’s a slow start for the technology sector’s next big thing which has promised greater rewards. The decade-old phenomenon of search advertising and perhaps the billions of stated 'likes' on social networks does not translate into tangible purchases. It is early days for this fast-growing sector which could yet be used as e-commerce spaces or payment platforms while the strong trust element that social networks command amongst users could be harnessed by advertising companies and their clients,” explains the report.

Fashion and Social Conscience: Prestige vs Practices of the Brand.

Most of us have an inherent need to be accepted and will alter the way we present ourselves and our buying habits accordingly, says Yoan Massie in an interesting article about the world of fashion. Over history, the following of fashion and trends has been more about personal validation, self-expression and social acceptance rather than practicality or economy. Today, is this still the case? In the present economic climate, there appears to have been an adjustment of values from the everyday consumer. The onset of the global financial crisis (GFC) has been a driver for shifts in the ‘luxury vs. necessity' boundaries. And Mr Massie continues: “Business guru and author, Costas Kataras points out: "Brands are no longer about products, services or experiences but have risen to a ‘pseudo-status'. There is deep engagement of the human psyche with brands. The consequence of the human encounter with brands by far exceeds the simple transaction at the shop, and affects the future of society and its well-being." In an economy fuelled by uncertainty, cash-strapped consumers are favouring simple pleasures, frugality and conservation over extravagant indulgences. Materialistic culture has been rejected and even people who have the money to spend, appear much more hesitant about showy displays of cash. It seems the latest essential fashion accessory is a social conscience. ‘Eco-chic' is a term that has become increasingly prevalent. Defined as combination of trendiness and environment, being eco-chic is not just a look, but a mentality. Nowadays it seems as though purchase decisions have less to do with the prestige of the brand and more with the practices of the brand. Read the fuel article by Yoan Massie “The Death of the Bling” with clear reference to Costas Kataras’s book and the “The Death of the (Arrogant) Brand” .

Some investments aren’t meant to make a profit.

The business of.. business isn’t only about profit. It’s about people. Particularly people who have made a difference. We often meet these people at moments when they feel at their most vulnerable or helpless. But it’s in such moments that the human spirit can shine through. That’s what this story is all about. The “ You Are The Big Picture” campaign pays tribute to these people in giant portraits designed to match the size of their compassion, resolve, determination or integrity. A great communications campaign by Aviva.

What's Wrong with Drug Marketing Communications ?

Prescription drugs have brought many benefits for many people, but their marketing is mired in controversy. Weak government regulation and inadequate industry codes mean that drug companies are using irresponsible marketing to push their pills on doctors, the public and patients. Consumer International's (CI) Marketing Overdose Campaign is all about highlighting the unethical and irresponsible marketing practices of drug companies around the world. Get the latest updates from this blog.According to CI the winner of the Marketing Overdose Award for rampant promotion for 2008 goes to...Eli Lilly. According to CI "the company has run foul of marketing regulations in the promotion of it's erectile dysfunction(ED) drug Cialis on a number of occasions".With sales of over $1.1 billion, Cialis is one of Lilly's biggest sellers and the company only for 2007 spent $152 million on marketing communications and promotion.The company , according to CI, has been "officially censured by British and Australian authorities no less than three times in the past few years"

Top 3 most listened podcasts for 2009 in The Engaging Brand

The Engaging Brand (TEB) site announced the ranking of the most popular shows (podcast ) produced in 2009, series of interviews of Mrs Anna Farmery with global business and marketing personalities . The interview with Costas Kataras, Are We Facing the Death of the Brand? ranked No 3 for 2009. TEB produces The Engaging Brand podcast , that was nominated two years running for the Best Business podcast . The show interviews a wide range of people looking for creative ideas of how to develop business. More info, including the top 5 list, here. Also in other blogs.

Trends That Will Drive Consumer Thinking in 2009

JWT, one of the world's largest advertising agencies, has released its fourth annual year-end forecast of key trends that will drive or significantly impact consumer behavior in the year ahead.

According to JWT, major trends for 2009 include the energy race, which will heat up as nations, corporations and research institutions compete to find cheaper, renewable and more eco-friendly energy sources; simple pleasures, which cash-strapped consumers will favor over extravagant indulgences; and a new "we over me" attitude toward addressing social problems.
Other key trends cited in the report "10 Trends for 2009" include:

• Redistribution of Power: 2009 and beyond will see widespread power-structure shifts in the political, economic and social spheres.
• The Mobile Device as the Everything Hub: As the availability of wireless broadband expands and the cost of advanced phones drops, the mobile device will become the preferred hub for digital communications.
• The Small Movement: Everything is getting smaller, from stores to cars to mobile technology to packaged goods.

Socialism, Capitalism and... Brands

An interesting perspective of the ideas presented in Nice Capitalism, are discussed in Conscious Images a blog marketing the social economy. "These are huge ideas that seem supported by the evidence we see now of the impact on U.S. brands of capitalism gone bad" notes . Anna Farmerly of The Engaging Brand commenting adds : "I think Costas makes some fantastic points in his book that really make you think about the future of brands..it is a great book for making you think harder about the role of brands in society".. Join the discussion here. (Photo C: Louis Vuitton)

Are we Facing the Death of the Brand?

Anna Farmery of The Engaging Brand "in a talk with Costas Kataras who has written a fascinating new book called Nice Capitalism which asks are brands dead". The talk is about:
Are brands in decline?
What do we mean by the death of a brand?
What is the significance of the rise of own labels?
Have brands developed personality disorders?
Why do many of the global brands come from small countries?
How employee engagement relates to creating a brand.
Evolution of brands towards fragmented brands.
Impact of depression as a major illness and how effect depression and their role in coping with depression.To listen the podcast click here. (In the photo :Anna Farmery)

Advertising Spend During a Downturn

Back in 1990 Stephen King published a study on advertising spend during a downturn.His conclusion: that businesses which cut advertising would be long-term losers.
During recession, the data showed that only a third of companies cut their advertising spend - by an average 11 per cent - while two thirds increased it; Around 60 per cent of those increasing spending did so modestly, by an average 10 per cent; the remaining 40 per cent made a big increase, average 49 per cent. All the businesses saw a reduction in their ROI during the recession, albeit it was slightly greater (-2.7 per cent) for the big spenders, than for those who cut their advertising (-1.6 per cent). This caused King to note: "...businesses yielding to the natural inclination to cut spending in an effort to increase profits in a recession find that it doesn't work."
King summed up these findings as follows: "In general, virtually all businesses see reduced profits when their market is in recession. But businesses that cut their advertising expenditures in a recessionary period lose no less in terms of profitability than those who actually increase spending by an average of 10 per cent.

Πόση ευτυχία χωράει μια γυναικεία τσάντα ?

04/05/2008, Αν και η ευτυχία μας φαίνεται μια κοινή έννοια , η ουσία της παραμένει δυσεξήγητη ανά τους αιώνες. Μπορούμε όμως να πούμε ότι για το δυτικό κόσμο τουλάχιστον, όπου έχουν λυθεί τα άμεσα προβλήματα επιβίωσης, υπάρχουν δυο τουλάχιστον στοιχεία που συμβάλουν στην ευτυχία του ατόμου , η αγάπη και η αναγνώριση . Αν και τα χρήματα, δεν μπορούν να αγοράσουν την αγάπη (... συνήθως, αλλά...), ωστόσο σίγουρα μπορούν να τραβήξουν την προσοχή πάνω μας και να πετύχουν έστω την πρόσκαιρη αναγνώριση. Σήμερα, όταν π.χ. αγοράζουμε μια τσάντα(δείτε εδω ενα απλοικό, αλλά ισως ¨χρηστικό¨, τοπ 10), ο σκοπός μας δεν είναι πλέον να αγοράσουμε κάτι χρηστικό, δηλαδή κάτι όπου θα τοποθετούμε το πορτοφόλι μας και τα αναγκαία μας προσωπικά αντικείμενα, αλλά να αποκτήσουμε ένα σύμβολο επιτυχίας. Μια γυναίκα που αγοράζει μια τσάντα μάρκας Leiber αξίας, συνήθως, 3.000 ευρώ ( δείτε εδώ μια ενδεικτική συλλογή) δεν αγοράζει την τσάντα αυτή για τη χρήση της αλλά μέσω της τσάντας αυτής αγοράζει αναγνώριση, κοινωνική θέση, δημοφιλία, έλξη και ίσως ικανοποίηση. Βασικά ¨αγοράζει¨ ένα κομμάτι ευτυχίας. Πρόσκαιρα όμως, γιατί όπως διαπιστώνεται από τις μελέτες, όσες περισσότερες γυναίκες αγοράσουν την ίδια τσάντα - και αυτό ¨φαίνεται¨ στον δρόμο - τόσο περισσότερο αρχίζουν να νοιώθουν απογοήτευση, ματαίωση και τελικά αντί για ευτυχία, αρχίζουν να νοιώθουν δυστυχία. Μέσα από τον αμείλικτο ψυχολογικό μηχανισμό της ¨προσαρμογής¨ και ¨σύγκρισης¨, η όποια στιγμιαία ικανοποίηση εξαφανίζεται γρήγορα. Και έτσι οι γυναίκες, συνήθως, πέφτουν στην παγίδα της ¨αγορομανίας¨( oniomania ). Οι ψυχαναγκαστικές / εθιστικές αγορές (compulsive shopping) , η ¨αγοροακολισμός¨ (shopaholism), η ¨αγορομανίας¨( oniomania ), κλπ έχουν ήδη αναγνωρισθεί ως μια ¨κλινική διαταραχή¨ από έγκυρους διεθνείς οργανισμούς. Την ίδια στιγμή αναπτύσσονται κατάλληλα αντικαταθλιπτικά φάρμακα για την καταπολέμηση εναντίον της αγορομανίας ( πχ Calexa , Lexapro της εταιρείας Forest Lab που δοκιμάζονται στο Stanford University Medical Center στην Αμερική ), ενώ μια ¨θεραπεία συζήτησης¨ (talking cure ) θα μπορούσε να είναι περισσότερο από αρκετή.
Τελικά, τι μπορεί να βρει κανείς ¨μέσα¨ σε μια τσάντα….έστω και (μέσης ) αξίας 3.000 ευρώ…..
( Πάντως η τσάντα στην φωτογραφία κοστίζει όχι τρεις χιλιάδες αλλά αρκετές εκατοντάδες χιλιάδες ευρώ . Είναι το σχέδιο Precious Rose και αποτελείται απο 1016 διαμάντια, 1169 ζαφείρια, χρυσό 18κ, κλπ. Πριν την παραγγείλετε , κάντε κλικ εδώ και δείτε "The Shopping Bag Lady" . Ενα βίντεο που ...σίγουρα θα σας βοηθήσει για να αποφασίσετε!!!)
(Από αναφορές και στοιχεία απο το βιβλίο “Nice” Capitalism )