As matter of positioning strategic, Bahamian businessmen and businesswomen may have to take a serious look at branding their companies and firms, as great varieties of new products, firms and services are brought into The Bahamas and made available on our (local) marketplace… Not just as a result of institutions such as the FTAA and WTO but also as a result of the ever-expanding world wide Internet, which provide consumers with a ton of options.
Branding a company or firm, could result in a very loyal customer base; whereby consumers elect to do business with a firm because it is recognised by it’s name, signs and symbols and can be depended upon to deliver, consistently, a particular kind and quality of goods and services.
Branding, is the reason you feel you must purchase Kleenex tissues, as opposed to a generic or some other brand, the reason you shop at Super Value food stores, instead of City Markets (conversely, the other way around)… Even the reason to vote for the candidate of one political party rather than the candidate of another. Without brands, selecting a product or firm [one wants to do business with] would be done on a random – maybe even a risky – bases.
Once the idea of marketing the Caribbean as a single or common destination started to be knocked around, strategists at our ministry of tourism came up with the idea of selling our Family Islands as a brand, separated from Nassau and Freeport, realising – no doubt – the high probability of the Family Islands (our merchandising Ace) could, so easily, get lost in the confusing marketing communications language, should such an idea ever materialise.
Once again, we live in an ‘Over-Communicated-To Society’, as Ries and Trout; the “positioning” experts of the advertising industry would put it. Unfortunately, there are no signs -whatsoever – of the trend turning around anytime soon, if ever; which means that more and more products will becoming into our market place and more and more messages, each telling you why you should purchase one rather than the other.
Alvin Toffler, author of Future Shock, making his predictions of the throw-away and transient society describes a little girl who soon learns that Barbie dolls are by no means the only physical object to pass into and out of her young life at a rapid pace. Almost from birth, Toffier pointed out, back in 1970: “Diapers, bibs, napkins and towels, non-returnable soda bottles, will all be used up quickly, in her home and ruthlessly discarded”.
Back in 1970, even then, the idea of using a product once or for a brief period and throwing it away or even replacing it with another ran counter to the grain of a society steeped in a heritage of poverty. Actually, at the time, a housewife in France (for an instance) was not used to disposable products. Rather, she liked the idea of keeping things; even old things. So, when an advertising agency, representing a company that wanted to introduce a kind of plastic throw-away curtain did a marketing study, the resistance was so strong, the company scraped the idea of launching the curtains.
Such resistance has now disappeared from the face of the entire developed world. Disposable goods, even a wedding gown will be entering and leaving the marketing place so rapidly, you wouldn’t be able to keep up with the names.
Over the years, we’ve seen brand names and images dominate, one over the other; holding wide share margins for years. Market dominance, of this kind came as a result market pioneering. Eventually, however, the very success of such dominant brands have attracted competition from new products of improved or comparable quality, at lower prices.
Another factor which needs to be considered in planning a marketing position in the future is the probability that an open boarder policy – which may be adopted by our government, should we become a signatory to the FTAA – win reintroduce the suitcase company to our shores. We could experience a situation whereby, small companies within the Americas, not wanting to invest substantial sums of money before testing the market, will send us a resident or commuting sales rep. who take orders and fill them from a warehouse in the country of domicile. Just in case the point is not made clearly enough we want you to, just imagine, K-Mart in a suitcase.
Branding your company or firm just might be the only way to overcome the potential invasion – not only by name brand products (well known and not-so-well known alike) but, by share numbers of a wide range of products… Not to mention a number of new companies, which just like you, may not have to contend with customs duties on a wide range of imported products. Yes, as a Bahamian business person, you need to know that there is a very distinct probability that, a signatory to a CARICOM accord, (that body’s effort to establish economic integration in the region) know as the CARICOM SINGLE MARKET AND ECONOMY (CSME), come 2005-plus, a number of products – possibly some which now face Preferential Customs Tariff – will enter this market, free of duty and import taxes.
In order to successfully brand your company or firm, a careful, strategic plan, designed to build/command loyalty from, both, your customer and employee bases, while establishing easily recognisable signs and symbols, along with a sustained, positive public posture, with which, the publics you serve [or target] can identify.
Building loyalty among employees, for the most part, will require a new approach to training, job assignment, evaluation and compensation… Gaining the respect (in the purest sense) of employees will be key… Not one which just anyone can turn but one with a precious, Tare combination, known only to those at the highest level of the company/firm’s authority… Euphemistically speaking, of course.
To build and sustain customer loyalty you must send useful and positive messages to your publics, on a regular bases… This can be achieved through a wide variety of campaigns; including corporate or institutional advertising, management or marketing letters, consumer workshops and seminars, membership clubs, frequent-buyer programmes and a lot more… Some heavy on the advertising side. Some heavy on the public relations side.
LOCAL BRANDINGS
Two very good example of the value of company or firm branding are John Bull and Burns House.
We recall the former Starting out as a tobacco store, catering, to English residents and settlers, (Now known as Brits.) back in the late forties/early fifties, with a select few of American tourists as a secondary market. The firm systematically deepened it’s product fine to meet the demands of a growing tourist market. This was done so meticulously and conscientiously, “JOHN BULL – TOBACCONIST” became JOHN BULL; the store where you find the highest quality merchandise, from around the world, when in Nassau. JOHN BULL, located in the building, built for “The Nassau Shop (another Bahamian brand) is, today, a brand name (deliberately or by accident), at home and abroad.
Our information and recollection of the history of Burns House is not as clear but it seems to be that the late Sir Stafford Sands; “father of our Tourism Industry”, lawyer, businessman-extraordinaire (and some associates) bought the (wholesale/retail) packaged-liquor store from a merchant or group, out of Bermuda. Using his extraordinary gift promotion and his vision for the retail value of food and beverage, in an expanding consumer market, Sir Stafford went about building a chain of retail store under the banner (or brand, if you like), especially in the lobby of our major hotel; taking the advantage of huge difference between the price of a bottle whisky in Nassau and the price, almost anywhere in the United States and Canada.
Later, Sir Stafford went on to form a liquor conglomerate (mainly for the purpose of increasing his buying power and obtaining discounts, which widen his profit margins). The conglomerate, called ‘Bahamas Blenders (because it now bought in bulk and bottled) reigned supreme in a Bahamas liquor distribution and retailing industry, for many years.
Today however, after a long, vigorous and trying time; experiencing many changes – in both name and character – in it’s successful corporate history, the company brands itself with the name it started with, back in the late 1930’s, at the comer of Bay & East Streets… Burns House Limited.
Branding! It could be a source of marketing salvation for your company or firm.
David A. Clarke is a practicing media consultant based in Nassau and can be contacted at kewturks@Yahoo.com or Tel. 322-4430.
