Category Archives: brand image

October 2, 2024 · 10:56 am

Dress, Scent, and Charisma: The Secret Weapons for Success

By James D. Roumeliotis

In the competitive world of business and personal relationships, first impressions can make or break opportunities. While skills and knowledge are crucial, the often overlooked elements of dress, scent, and charisma play a significant role in how others perceive and interact with us. Let’s explore how these secret weapons can elevate your path to success.

The Power of Dressing Well

Studies show that it takes only seven seconds for someone to form a first impression, with over 50% of that impression based on appearance alone. Dressing well isn’t just about following trends; it’s about presenting yourself in a way that commands respect and attention.

Tips for Dressing for Success:

  1. Understand your industry’s dress code and elevate it slightly.
  2. Invest in well-fitted, quality clothing.
  3. Pay attention to grooming details like clean nails and polished shoes.
  4. Choose accessories thoughtfully and sparingly.

Remember, “dressing for the position you want” can actually accelerate your career progression. The confidence boost from wearing professional attire can positively impact your performance and how others perceive you.

The Subtle Impact of Scent

While often underestimated, the right fragrance can leave a lasting impression. Our sense of smell is directly linked to emotions and memory, making it a powerful tool in creating positive associations.

Choosing the Right Scent:

  1. Consider the occasion and environment.
  2. Opt for subtle, clean scents for professional settings.
  3. Match your fragrance to your personality and style.
  4. Remember, less is more – avoid overpowering scents.

A well-chosen fragrance can enhance your presence without overwhelming others. As one expert notes, “fragrance is felt. It lingers in the memory, making it one of the most potent tools in your arsenal.”

Cultivating Charisma

Charisma is that intangible quality that draws people to you. It’s a combination of confidence, warmth, and presence that can be developed and honed.

Enhancing Your Charisma:

  1. Practice active listening and genuine interest in others.
  2. Maintain good posture and eye contact.
  3. Develop a warm, authentic smile.
  4. Work on your public speaking and storytelling skills.

Charismatic individuals often use hand gestures to emphasize their points, making them more relatable and trustworthy. By focusing on these non-verbal cues, you can significantly enhance your personal magnetism.

Putting It All Together

The synergy of appropriate dress, a subtle scent, and cultivated charisma creates a powerful personal brand. This combination not only boosts your confidence but also influences how others perceive and respond to you in professional and personal settings.

Remember, these elements should authentically represent who you are. As one style expert advises, “It’s not solely about trends or high-end items; it’s about understanding and celebrating who you are.”

In conclusion, while skills and knowledge form the foundation of success, don’t underestimate the power of dress, scent, and charisma. These secret weapons can open doors, create opportunities, and leave lasting positive impressions that contribute significantly to your personal and professional success.

By mastering these elements, you’re not just dressing for success – you’re embodying it.

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August 1, 2023 · 9:45 am

How to Create Artificial Scarcity for Exclusivity, Cachet & Stellar Profit Margins

By James D. Roumeliotis

Creating artificial scarcity with products is a shrewd marketing strategy that aims to increase demand and perceived value by limiting the availability of a product or service. It can be used to generate excitement, urgency, and a sense of exclusivity among consumers.

However, to earn respect and steadfast clientele as a “prestigious” brand, it’s essential to approach this strategy ethically and transparently. Here are some methods to create artificial scarcity with products:

  1. Limited Editions: Offer limited editions of your products, making it clear that there will only be a fixed number available. This can create a sense of urgency among customers who want to own something unique and exclusive.
  2. Time-Limited Offers: Implement time-limited offers or flash sales, where the product is available at a discounted price for a short period. This encourages customers to make quick decisions to avoid missing out on the deal.
  3. Pre-Orders and Waitlists: Launch products with pre-order or waitlist options. By allowing customers to reserve a product before it’s officially released, you can create anticipation and interest in the item.
  4. Seasonal or Holiday Releases: Introduce products that are specifically tied to certain seasons or holidays. This creates a sense of urgency as customers know the product will only be available for a limited time.
  5. Controlled Distribution: Control the distribution of your product to specific regions or stores, making it harder for customers to access it, and thus creating a perception of scarcity.
  6. VIP Access: Offer exclusive access or early release to a select group of customers, such as loyal customers, members of a loyalty program, or influencers. This can make others desire the product even more.
  7. Limited Time/Quantity Promotions: Run promotions where a specific number of units are available with added benefits (avoiding discounts). Clearly communicate the limited quantity or time frame to create urgency.
  8. One-Time Reissues: If you have an older product that was well-received but discontinued, consider reissuing it for a limited time. This could create a surge in demand from customers who missed out on the initial release.

Building cachet

Building cachet in a product or service is a strategic approach used by businesses to create a perception of prestige, exclusivity, and desirability. It involves enhancing the brand image and reputation to attract a select target audience willing to pay a premium for the perceived value and status associated with the offering. It requires consistent messaging, attention to product quality, and a clear understanding of the target audience’s desires and values.

Cases in point: Nike vs. Hermès; Diamond industry; Prime energy drink

Hermès is not the world’s biggest fashion label ─ it’s Nike, followed by Louis Vuitton (LVMH group), Gucci (owned by Kering), Chanel, Adidas and finally Hermès. But Hermès appears to be the most desirable brand. Recently, the stock price of the French leather goods company, founded by harness-maker Thierry Hermès in 1837, soar to more than €2,000 per share. It raised Hermès’s market cap to €210 billion, even surpassing that of Nike. Hermès is primarily owned by the Hermès family, which through its holding company, H51, holds the majority of the company’s stake, and one of the few luxury brands that remained independent.

Much of Hermès’s magnetism comes from positioning itself as an exclusive brand by creating scarcity over its two priciest best-sellers ─ the Birkin, starting at €15,000 and produced in small numbers (artificial scarcity, thus waitlists) and the Kelly bags. These two alone accounts for €2 billion in annual sales.

A notable industry which in its entire history has created artificial scarcity is the diamond sector. It controls supply to manipulate prices. On top of extreme ethical violations, leaders in the diamond industry are extremely clever in limiting the supply of the clear and glitzy rocks. Despite diamonds being numerous, fake scarcity keeps prices extremely high. The estimates on markups are broad, but most of the reliable sources indicate that at least 300% is the usual markup. 

Prime Hydration is a line of fruit-flavoured sports drinks fortified with vitamins and minerals. It was launched by rapper and boxer KSI and YouTube content creator Logan Paul in January 2022.  It’s so popular worldwide that in places, such as the United Kingdom, grocery stores have had to ration it. In the U.S. and Canada, it retails online for about $10 per 500 ml (16.9 oz.) bottle. So, what gives with this particular product?

  • FOMO (Fear of Missing Out): Scarcity triggers the fear of missing out, and consumers may be more motivated to purchase an energy drink if they believe it won’t be available for long.
  • Collectability: Limited-edition or rare energy drinks can become collectibles, appealing to enthusiasts who want to own and preserve unique products.
  • Social Media Buzz: Artificial scarcity can generate buzz on social media platforms as consumers share their excitement about the limited availability of the product.

In the final analysis

Remember that while creating artificial scarcity can be an effective marketing tactic, it’s essential to maintain transparency with your customers. Be clear about the limited nature of the offer and avoid deceptive practices that may undermine trust in your brand. Additionally, be mindful of potential backlash if customers feel manipulated or misled. Artificial scarcity should be used ethically and as part of a well-rounded marketing strategy.

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March 3, 2023 · 8:03 am

The Distinction Between CPG Brand Management and Luxury Brand Management

By James D. Roumeliotis

Brand management is the process of creating, developing, and maintaining a brand in order to achieve business goals. It involves establishing a brand identity, building brand equity, and ensuring that the brand remains relevant and competitive in the market. However, brand management strategies can vary depending on the type of brand being managed. In this article, we will explore the differences between managing a consumer-packaged goods (CPG) brand and a luxury brand.

What is CPG brand management?

CPG brands are typically everyday products that consumers use on a regular basis, such as food, beverages, personal care products, and household items. CPG brand management is all about creating a brand that appeals to a broad range of consumers and maintaining that brand in a highly competitive market. CPG brand managers need to focus on product innovation, pricing, packaging, distribution, and marketing in order to succeed.

The focus of CPG brand management is on creating a consistent and reliable product that consumers can trust. CPG brands often have lower profit margins than luxury brands, which means that cost control is critical to their success. CPG brand managers need to carefully balance the cost of producing their products with the price they charge consumers in order to maximize profits. Additionally, CPG brands need to be marketed in a way that appeals to a broad audience and drives sales volume.

What is luxury brand management?

Luxury brands, on the other hand, are products or services that are associated with high levels of quality, exclusivity, and status. Luxury brand management is all about creating a brand that conveys a sense of prestige and luxury to consumers. Luxury brand managers need to focus on product design, craftsmanship, exclusivity, and marketing in order to succeed.

The focus of luxury brand management is on creating a sense of exclusivity and rarity that appeals to a select group of consumers. Luxury brands often have higher profit margins than CPG brands, which means that their pricing strategy can be more flexible. Luxury brand managers can charge premium prices for their products, and they often use scarcity and limited availability to create a sense of exclusivity.

Luxury brands are also marketed in a way that is different from CPG brands. Instead of appealing to a broad audience, luxury brands target a niche market of high-net-worth individuals who are willing to pay a premium for quality and exclusivity. Luxury brand managers often use celebrity endorsements, event sponsorships, and other high-end marketing techniques to build brand awareness and create a sense of exclusivity.

Key differences between CPG brand management and luxury brand management:

  • Target market: CPG brands target a broad audience, while luxury brands target a niche market of high-net-worth individuals.
  • Product features: CPG brands focus on creating a reliable and consistent product, while luxury brands focus on exclusivity and rarity.
  • Pricing strategy: CPG brands typically have lower profit margins and need to balance the cost of production with the price they charge consumers, while luxury brands can charge premium prices and use scarcity to create a sense of exclusivity.
  • Marketing strategy: CPG brands are marketed in a way that appeals to a broad audience, while luxury brands use high-end marketing techniques to build brand awareness and create a sense of exclusivity.

In conclusion

While both CPG brand management and luxury brand management involve creating and maintaining a brand, the strategies used to achieve these goals can be very different. CPG brands focus on creating a consistent and reliable product that appeals to a broad audience, while luxury brands focus on exclusivity and rarity to appeal to a select group of high-net-worth consumers. Understanding these key differences is essential for developing effective brand management strategies in either context.

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February 1, 2021 · 9:52 am

How to Blemish Your Well Established and/or Prestigious Brand and How to Prevent It

By James D. Roumeliotis 

A business invests time, resources and money building a brand over the years. Its image and reputation are sensitive matters which should be kept top of mind as they form perceptions on the mind of the consumer. This in turn drives revenues and noteworthy profits. Thus, it goes without saying that a brand is core to a company’s success. Moreover, the leadership behind it should be making methodical decisions to retain the brand’s reputation through diligent decisions and actions. Surprisingly, this is not always the case with some brands ─ primarily the people behind it, the brand custodians, along with their organizational culture.

So, What Gives?

The main reasons why a company may be neglecting its brand image includes:

  • Bad products or service;
  • Below average post sale service;
  • Not delivering on promises or lying and over-hyping the features & benefits offered;
  • Mixing and associating politics, race, religion, sensitive causes, and rogue individuals;
  • Overexposure including not carefully vetting the licensees;
  • Not delivering on a positive and effortless total customer experience;
  • Lack of employee training, empowerment, motivation and not everyone being on the same page or common goal with customer centricity throughout the organization;
  • Paying little attention to the noise and discussions made about the company/brand over social media.

Classic Cases of Greed, Over-exposure, and Negligence

Pierre Cardin: When the late 98-year-old fashion designer with the eponymous name passed-away, he left behind a legacy mixed with unique creativity, yet his name was overexposed on hundreds of products, from accessories to home goods. From an icon to a blemished brand whose prestige waned to oblivion. For over seven decades, he designed unique and unconventional clothes which pushed the boundaries of the acceptable. For example, he introduced his “bubble dress,” a short-skirted, bubble-shaped dress made by bias-cutting over a stiffened base. He would experiment with synthetic materials such as vinyl, and Plexiglas among other avant-garde textiles. He also introduced unisex fashion which were indistinguishable between man and woman.

Later, Pierre Cardin developed licensing agreements with several industries which put his brand name on a vast number of consumer goods, including cosmetics, pens, even cigarettes. He once amused that, if given the opportunity, he may even put his name on a roll of toilet paper. As a result of his practice, he eventually cheapened his brand despite the wealth it afforded him. The overall effect of making Pierre Cardin appear on a variety of items was solely to make habitually non-fashionable products appear high-end.

By the mid 1990’s with about 904 licenses globally, his licensing overexposure led to the devaluation of the brand. In 2011, he attempted to sell his business. Despite discussions with several potential investors, he did not succeed in that endeavor.

So why did Pierre Cardin chase money to the detriment of his brand? He answered this question while defending his strategy by stating: “I don’t want to end up like Balenciaga and die without a nickel — then, 20 years after I’m dead, see others make a fortune from my name.“

The moral of the story is that a fashion icon brand which wanted to exploit its reputation and expand beyond its in-house offerings, required a strategy of licensing with a selective and discerning manner.  

Donald J. Trump and the family owned Trump Organization: The former US President and once renowned NYC Real Estate developer went from a hyped-up and aspiring luxury lifestyle brand to one presently looked-upon with disdain. He spent four years treating politics, diplomacy, the climate, and the well-being of his people as trivial matters, and in the process, alienated more than half-the country’s voters. The final nail in the coffin was the backlash from the Capital riot that he incited on January 6th, 2021. Timothy O’Brien, Bloomberg opinion columnist and the author of Trump Nation, on MSNBC News declared: “Trump’s brand is associated with violence, insurrection and hatred.” The headline in an Ad Week January 8, 2020 article, states: “Exclusive: Trump’s Name, Once a Brand, Is Now a Banner of Extremism.”

According to several people close to him, winning the Presidency to the WH in 2016 came unexpectedly to Donald J. Trump. He wasn’t quite up to the task for the job, other than the prestige and power bestowed upon him. While moonlighting as President of the US, Trump spent four years destroying two brands: his own and his Republican party’s. Consequently, banks, business partners, his lawyers, and political allies have distanced themselves from the former president. Much of his licensing business, which grew somewhat following the popularity of The Apprentice TV show, has reached a low point since he became president. 

Outright Reject Creating Scams and Malfeasance

Moreover, as anyone who maintains an element of morals and ethics in the business world will acknowledge, scams and malfeasance are not a good brand-building strategy. Consider the extinct Trump University: an online education scam, the Trump Foundation: a scam-packed philanthropy, and Trump Network: a multi-level marketing and devious organization.

What Can You Do to Preserve Your Brand Reputation?

  • Have a viable plan in place to build and preserve your reputation: It is not a onetime event, or a serious of occasional events but rather an ongoing process. Constantly monitor your brand. Be proactive vs. reactive to prevent issues from turning into a crisis.
  • Develop an online strategy to spot increases in negative conversation before they reach bloggers and online media.
  • Use social media to clarify customer misunderstandings, reducing overall complaints and building brand fans simultaneously.
  • Keep an open-door policy and encourage dialogue with your employees to obtain any adverse issues before they get exacerbated.
  • Apologize to customer complaints in a timely manner. 
  • Be transparent when handling client issues and avoid using pretexts.
  • Use testimonials as these can help boost any image problems.
  • Reward loyal customers and supporters by making them feel appreciated.
  • Do not associate your brand with any rogue partners. Choose the charities, sponsorships and cause marketing affiliations carefully.

Finally, avoid being entangled with religion, politics or any other sensitive subject and institutions.

Complacency and insensitivity in your business should, by all means, be avoided let alone developing and retaining a stellar brand reputation.

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