VietnamCredit About Us Cafe€redit Contact Us
Go to cart
Branding during the crisis

Branding during the crisis

Monday 20, 01 2020
Upon hearing the news of the famous fashion brand Forever 21 applying for bankruptcy and closing hundreds of stores from October 2016, the crazy fans of this brand must be surprised.

Why did a brand of more than 35 years old, reaching out to the international level and seemingly capturing the whole world suddenly "collapse"?

The "sudden death" story of the iconic brands of the world recently is no longer a shocking story, because for the past five years it has become too ordinary. Names such as Nine West, Roberto Cavalli, Payless, Diesel, Sears, Toys R Us, ... filed for bankruptcy one after another for very similar reasons: financial difficulties. All the splendor, a reputation built in billions of dollars, suddenly has nothing to do with it, in a very heartless, extremely cruel way. Is the era of branding over? Does the brand have a different shape now? And is it time for corporations and businesses to redefine their so-called branding strategies? If the sign is like that, to avoid sudden death symptoms that are worth only a few clams shaking their heads, what could be the next journey about light?

Unknowingly, the brand began to be stirred up by the billion-dollar "extreme" inflated numbers, with the dominant landing showing the wild ego, on the bargaining chips and competitions of impractical financial institutions. And the shadow of the brand, through the "shoe-shining" campaigns, becomes shiny silver bars for sellers and buyers.

There is only one simple link that creates a brand that people quickly forget: customers, consumers, users.

A brand is a value formed and nurtured in the mind, in the mind, in the hearts of users. When it was brought out to take care of it as a weapon to make money, the most valuable, normal, but most practical thing to create is suddenly shattered. When the brand is no longer relevant, it no longer touches the emotions and fulcrums of the needs of the user, the brand does not exist. Besides, the arrogance of buying and selling on paper of huge numbers, it is impossible to save the trivial relationship with each customer, with millions of billions of tiny interactions creating the brand's intangible value.

You can play the game of buying and selling, but don't forget to come back to keep yourself involved, taking care of those who have created value for your business to buy and sell.

Perhaps it is time for all the glory of the past to be wrapped tightly in foil so that it will not escape so that the silent brand people return to the most basic things. Perhaps it is time for people to land on the ground, inquire about the most basic things that make the relationship between customers and brands, then humbly return to find the intact relationship of the original. The customers of this 21st century, they are digital consumers. They naturally expect transparency in the relationship. They have the right to know, be investigated, be questioned about what they have received from the faith they have spent. There is no need to struggle with market research to understand what they want, need, and demand the honesty of the brand's quality, safety, reputation, and conscience. Clients of the 21st century, they connect, they create influence, and possess the unparalleled power to carry the name of an individual. No paper can pack fire.

So, branding during the crisis period simply means doing the following three things.

Tell the truth, do the truth

Branding during the crisis

3P Business

When the mother Earth falls into a state of no return, and the natural ecosystem can no longer carry human desires after many years of use, humanity is in a dilemma, that is whether to exist or to run away.

Because of this, Elon Musk and many of the pioneers are studying how to disperse mankind on planets that can survive. The brand has never asked itself, in the end, build, sell, and use for what, when the survival of mankind is in a completely threatened position? Enduring brand? Is there still when this Earth it withered and fell to death? Brand development? Between life and death, who cares about branding or not branding in the media?

>>> 5 Principles To Maintain The Performance Of Elon Musk

Therefore, Profit is, of course, the eternal story of business people to survive and develop, but the last line on the financial statements of enterprises in this century must mention two other P's in 3P, which are Planet and People. Finally, what is the brand born for, if not its contribution to the sustainable development of the planet and the human world? Branding in the 3P era, so it is no longer a lipstick, polish or glossy shoes. It is a sincere commitment to deploy programs that truly benefit the planet and the community.

Open creativity

In the age of technology, the death of the old business model and the explosion of business models made with technology, the brand even though hundreds of years old was only relevant when it was associated with the changes in user behavior and approaches. What is relevant today may not be so tomorrow as new technology is introduced to bring more convenience, bring more experience, save more time and eliminate trivial inconveniences which are annoying to the user. In times like these, big and small are no longer the way to classify goods. The arrogance of the giants will be the poison to kill the perennial brand. So, the way to keep yourself involved is to get off the horse, walk, observe, and talk with talented young people who can create new technology, which can turn the tide of the years lined up.

Branding, therefore, is no longer the responsibility of the marketing and brand department. It becomes a business model transformation strategy to keep the business always relevant in relation to users. Branding is to deploy an open creative model, to drop the big ego to collaborate with technology startups, to be open to accepting creative movements from any corner, from inside out, from outside to inside, or from some other multi-dimensional space.

Branding is about raising the talent no matter how they relate to the company, whether it's free-lance, long-term collaboration, part-time, project-based, or becoming an entrepreneur in the team. They are the ones who will keep the brand relevant to this century with innovative business models. There, brands also touch customers, and opportunities to care for and build customer experiences. The longer the relationship, the longer the brand. The relationship moved to another platform and we still struggled on the tall tower, we lost them, and we lost our brand without knowing why.

There are basic, simple, morally and everyday things like that, but not every big ship turns to see the dawn. Never has this world entered a time of taking off complexity so decisively. If we do not return from the beginning, start from the very simple and honest things, the customers will leave us, the brand will be no longer, and sudden death becomes a daily thing in the district.

>>> 7 tips of self-made millionaires: Being prepared is never redundant!​

Business Skills

You may also like

“National Brands of Vietnam” - The recognition for Vietnamese products
Thursday 26, 11 2020

“National Brands of Vietnam” - The recognition for Vietnamese products

Despite the impact of the COVID-19 pandemic, 2020 has witnessed the highest...
Top 10 billion-dollar brands in Vietnam 2022
Monday 03, 10 2022

Top 10 billion-dollar brands in Vietnam 2022

Data from Brand Finance shows that the value of the top 50 most valuable...
+84 981861066