Marketing 2.0

BP's Negative Brand Equity

Here's a good post I came across from the Branding Strategy Insider. The author defines negative brand equity - the phenomenon that is occurring right now for BP. That's when the brand actually has a negative impact on the business. Right now, BP is the poster child for the evil corporation based on the ongoing spill in the Gulf, along with the Obama Administration's efforts to vilify the company and deflect any criticism that might come their way. Speaking of which, Pres. Bush was publicly crucified for not effectively completing the Katrina recovery efforts in the first week or two after the storm. Pres. Obama waited over 50 days to meet with BP and received very little criticism. The difference? Obama had more positive brand equity working in his favor along with a fawning media. You see the same phenomenon with Apple and Steve Jobs. The antennae problem with the new iPhone could have become a big crisis, much like the unintended acceleration issue for Toyota. Apple and its CEO got relatively little heat in comparison because of the company's incredible brand equity and Jobs' image as the iconic master of cool technology. So, the message for companies, CEO's and Presidents alike is that brand equity really matters. It's especially important in a crisis situation. The positive equity that you've built up with customers, the public, and the media can make all the difference in surviving the crisis.

Negative Brand Equity: A BP Death Sentence?: Branding Strategy Insider: "

Facebook's 500 million strong

Facebook recently achieved a milestone of 500 million users. Here are some fun facts about the makeup of that massive social network courtesy of Macworld.

Fun facts about Facebook's half-billion users | Social Media | Macworld: "

YMCA to Become Simply ‘the Y’

In an effort to simplify their brand name, the YMCA will now be known simply as the Y. This is not exactly a radical change as most people already referred to them by this name. Radio Shack shortened its name to the Shack last year and corporate villain British Petroleum became just BP a few years ago. In the case of the Y and BP, consumers already used these names so the change was evolutionary. Marketers have to be careful not to sacrifice brand recognition and awareness. When I hear the Shack, I think of a bar or restaurant — the Crab Shack or something on that order.

Following a Trend, YMCA to Become Simply ‘the Y’ - NYTimes.com.

Wenlock the Walking Willie?

 Today's questionable design features the 2012 Olympic Game's official mascot. The branding strategy insider comments that Wenlock (the mascot's name) resembles a certain part of the male anatomy. What do you think? If there is a connection maybe Cialis could become an official sponsor.

Brand Design: A Penis For London's Olympic Games?.