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Memo to the Iditarod: Stop! In the name of your brand
The Iditarod Trail Committee is no doubt busy preparing for this years race, which begins March 1. The Last Great Race attracts thousands of visitors to Alaska -- and millions of fans around the world. The ITC is also busy trying to protect its brand by threatening legal action against so-called urban Iditarod charity events in places like New York and Boston. But does sending the brand police after groups who are simply trying to help feed the hungry actually protect the Iditarod brand? I dont think so. Trust me, I understand brand value and the importance of protecting it. This past November, Forbes released its list of the worlds most valuable brands. Apple was at the top with a brand value of $104.3 billion, followed by Microsoft at $56.7 billion. Coca-Colas brand was third with a value of $54.9 billion. An organizations brand means everything when it comes to attracting and retaining customers. It is worthy of police protection and court orders in most situations. But every brand has two components, the first of which is brand identity. This is defined and controlled by the business and typically includes the companys name, logo, tagline, website, advertising, etc. Collectively, these elements symbolize the promise or commitment an organization makes to consumers. Brand identity is how a business perceives itself -- or wants to be perceived in the marketplace. Brand image is different. It forms in the minds of consumers in response to interactions with an organization -- either direct or indirect. It is the image or feeling that immediately surfaces when thinking about an business. Because brand image is at the mercy of others perceptions, it is much more difficult for a company (including its brand police and lawyers) to manage, and impossible to control entirely. The ITC is right -- and obligated -- to monitor and protect both its brand identity and image. After all, Iditarod sponsors like GCI, ExxonMobil, Wells Fargo and others pay handsomely for the right to affiliate with this world-class, Alaska event. But by clamping down on urban Iditarod groups such as Bostons, the ITC damages the Iditarods brand image without gaining anything. Posted by: Au Auric 2014-02-06 |
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