YOU ASKED FOR IT

Never pick a fight with an ugly person.They’ve got nothing to lose.

—Robin Williams

August 27, 2014FISHING, FOOD AND FRETFUL SHOPPING

BRAND OBSERVATIONS OF THE DAYFrom my random collection of info sources, here are some highlights related to the brands of our times...

• Wahl Clipper recently released findings from a survey on hairstyles and how they were linked to success in the workplace. The hairstyle commanding the highest salaries? Men sporting a “side part” were 35% more likely to see an annual salary of $100,000 or more. The survey did not discuss those who have very little or no hair to part...which would have been even more interesting for some (yours truly included).

•Good news for brands like Zebco and Larson Boats... Adology featured findings from a 2014 Special Report on Fishing showing that more women are trying out the sport. Next thing you know, we’ll be seeing signs that say, “Your husband called and he said it’s OK to buy a boat!”

• Burger King bought Tim Hortons this week and announced that the newly formed global company will be headquartered in Canada. Warren Buffett helped finance it with a cool $3 billion. With other Buffett companies, maybe Burger King can now make a real attempt at finally beating McDonald’s. I can see the new Burger King menu now...Tim Horton’s coffee, exclusive Coca-Cola products, and maybe some Dairy Queen branded treats to finish the meal off.

• Yankee Retail reports that its Home Decorating Company ecommerce site saw a 17% better conversion rate when they improved page loading time by an average of 2 seconds. Think web shoppers are patient? Think again.

JIM HUEBNERj i m h @ h u e b n e r p e t e r s e n . c o m

C E L L U L A RT E L E P H O N E970-420-3382

Hmmm.

Brought to you by popular demand of a client, my mom, and some folks I met at a church potluck

From the remaining gray matter of Jim Huebner

Information that will make you smile, groan or think...

Not that I haven’t bought something I didn’t need before, but...

© 2014 Hmmm by Jim Huebner

I scream, you scream, we all scream for BRANDing

...and on its way to the HuebnerPetersen blog...! PAGE2

A couple of weeks ago, I found myself where many might find themselves on a Monday night at nine o’clock in South Bend, Indiana...7-Eleven.

It had been a long, hot summer day and I was looking for some relief in the form of ice cream. So I made my way over to the freezer and was presented with two choices:

OPTION 1:Ben & Jerry’sChocolate Chip Cookie Dough at $5.49.

OPTION 2:The 7-Eleven brandedChocolate Chip Cookie Dough at $2.69.

That was quite a price discrepancy, and it had me curious. I first wanted to see if the Ben & Jerry’s product was a hands-down better tasting product and simply worthy of a 104% higher price. When I arrived back in Colorado, I went to the local 7-Eleven and purchased one carton of each. I put them in separate bowls, and had eleven different people blindly taste each of the treats and tell me which one they liked best. Not incredibly scientific, but enough for an indication.

The results? It was a split decision. Seven people picked the 7-11 brand. Four picked Ben & Jerry’s. And for those who understand the power of branding, it was no surprise.

It’s not that products don’t need to be good. They do. In fact, the consumer today EXPECTS quality. But often it

only needs to be incrementally better when it has great marketing behind it.

Great marketing that builds the brand consistently, day-in and day-out, yearafter year.

A guy in my office summed it up best yesterday when he said, “If I’m just taking it home, I’ll buy the 7-11 brand. But if I’m going to a party or need to impress or persuade someone with my purchase, then I’ll buy theBen & Jerry’s.”

And that, my friend, is what we refer to as a “premium brand.” The best case scenario is a brand that’s unlike anything else on the market—when the manufacturer maximizes pricing because they’re the only game in town. But Ben & Jerry’s is a good example of a premium brand in a crowded marketplace that’s still able to command a higher price based on perceived value and a higher sense of satisfaction with that brand.

So how does a brand get to the “premium brand” level? Through these four basic steps:

1) Positioning - a well-positioned brand with a good story to tell makes it a brand of interest. Think of Ben & Jerry’s story. It’s been unique...and interesting...from day one.

2) Consumers only become familiar with an interesting brand when it’s promoted. It might happen through P.R., social media, or paid advertising, but they must hear the story consistently and often if it is going to stick.

3) Familiarity breeds trust. Once a brand is trusted, it becomes a brand of preference, whether you’re on the dealer’s lot or in the grocery aisle.

4) Over time—and as trust is anchored in consistent experiences with the brand—an opportunity to charge a premium price and maximize profits is realized.

It’s not easy to become a premium brand. It takes commitment, resources, and time. But like Ben & Jerry’s, the pay-off can be worth more than the investment. 104% more, to be exact.

Jim Huebner is President of HuebnerPetersen Integrated Marketing.The firm was established in 1989 and specializes in making companies heroes to their distribution channels through strategic brand positioning, integrated marketing, and front lines marketing services. You can reach Jim at jimh@HuebnerPetersen.com or on LinkedIn. For “Hmmm” archives, CLICK HERE

WORDS TO

LIVE BY

The crucible is for

silver and the furnace

for gold, and each is

tested by the praise

accorded him.

–Proverbs 27:21 (NASB)