Stages of development of well-knows brands.
- Stories of famous brands.
- Famous companies that have gone a bankrupt.
Developing a well-known brand is a challenging yet rewarding task. A brand is not just a logo or a name but the value proposition that it represents. It takes years of hard work, dedication, and commitment to building a brand that resonates with the consumers. A brand must evolve and adapt to the changing market trends to stay relevant and successful. In this essay, we will discuss the stages of development of well-known brands.
Stage 1: Brand Identity
The first stage in developing a well-known brand is creating a brand identity. A brand identity is the visual representation of the brand, including the name, logo, and design elements. It is important to create a brand identity that is distinctive, memorable, and reflects the values and mission of the brand. This stage involves market research and identifying the target audience. Understanding the target audience is critical in creating a brand identity that appeals to them.
For example, Nike’s brand identity is the swoosh logo, which is simple yet distinctive. The logo represents the brand’s commitment to excellence and performance. The brand identity has been successful in creating brand recognition and loyalty.
Stage 2: Brand Awareness
The second stage in developing a well-known brand is creating brand awareness. Brand awareness is the extent to which consumers recognize and recall the brand. This stage involves creating brand visibility through advertising, promotions, and other marketing strategies. The goal is to increase the exposure of the brand to the target audience.
For example, Coca-Cola’s advertising campaigns have created brand awareness by featuring the brand in various mediums such as television, radio, and print media. The company’s advertising campaigns have focused on creating emotional connections with the consumers, which has been successful in building brand loyalty.
Stage 3: Brand Association
The third stage in developing a well-known brand is creating brand association. Brand association is the link between the brand and the consumer’s perception of the brand. This stage involves creating a positive image and reputation for the brand. The goal is to create a perception of the brand that is desirable and valuable to the consumers.
For example, Apple has created a positive brand association by focusing on product innovation, design, and quality. The brand has become synonymous with creativity and innovation, which has been successful in creating brand loyalty among consumers.
Stage 4: Brand Loyalty
The fourth stage in developing a well-known brand is creating brand loyalty. Brand loyalty is the extent to which consumers are committed to the brand and are willing to repeat purchases. This stage involves creating a positive experience for the consumers and exceeding their expectations. The goal is to create a loyal customer base that advocates for the brand and recommends it to others.
For example, Amazon has created brand loyalty by providing exceptional customer service, fast shipping, and a wide range of products. The company’s focus on the customer experience has been successful in creating a loyal customer base that recommends the brand to others.
Stage 5: Brand Extension
The fifth stage in developing a well-known brand is creating brand extension. Brand extension is the process of leveraging the brand’s equity to introduce new products or services. This stage involves identifying opportunities to extend the brand into new markets or product categories. The goal is to create new revenue streams and strengthen the brand’s position in the market.
For example, McDonald’s has successfully extended its brand into new markets by introducing new products such as McCafe and McDelivery. The brand’s strong position in the fast-food industry has allowed it to extend the brand into new markets, creating new revenue streams.
Stage 6: Brand Management
The final stage in developing a well-known brand is brand management. Brand management is the process of maintaining and protecting the brand’s image and reputation. This stage involves monitoring the brand’s performance and making adjustments as necessary. The goal is to ensure that the brand remains relevant.
Stories of famous brands.
History about Nike.
The brand Nike has a rich history that dates back to 1964 when it was founded by Phil Knight and Bill Bowerman. Originally known as Blue Ribbon Sports, the company started as a distributor for Japanese athletic shoes, which were then known for their superior quality and design.
In 1971, the company rebranded as Nike, inspired by the Greek goddess of victory. This new name symbolized the company’s commitment to excellence and performance. The iconic Nike logo, known as the “swoosh,” was also introduced in 1971, and it has since become one of the most recognizable logos in the world.
Throughout the 1970s and 1980s, Nike focused on expanding its product line and marketing efforts. The company introduced the first Nike-branded shoe, the Nike Cortez, in 1972, which became a best-seller. In 1979, Nike introduced the first air-cushioned shoe, the Nike Tailwind, which revolutionized the running shoe industry.
In the 1980s, Nike’s marketing efforts became increasingly influential. The company collaborated with basketball star Michael Jordan to create the iconic Air Jordan line, which launched in 1985. The Air Jordan line was a huge success and helped establish Nike’s dominance in the basketball shoe market.
Nike also started sponsoring high-profile athletes, including tennis player John McEnroe and runner Steve Prefontaine, which helped boost the company’s reputation and image.
In the 1990s, Nike continued to innovate and expand its product line. The company introduced the first cross-training shoe, the Nike Air Trainer, in 1987, and in 1990, it launched the first Nike Air Max shoe, which featured a visible air-cushioning unit.
Nike’s marketing campaigns continued to be a major driver of the company’s success. The company’s “Just Do It” campaign, launched in 1988, became one of the most successful advertising campaigns of all time. The campaign’s message of empowerment and inspiration resonated with consumers and helped solidify Nike’s position as a leader in the athletic shoe and apparel market.
In the 2000s, Nike continued to expand its product line and marketing efforts. The company introduced new technologies such as Nike+ and Flywire, which allowed for greater customization and performance. Nike also continued to partner with high-profile athletes, including LeBron James and Kobe Bryant, and expanded its sponsorship of sports teams and events.
Today, Nike is one of the most successful and recognizable brands in the world. The company continues to innovate and push the boundaries of athletic shoe and apparel design, while also focusing on sustainability and social responsibility. Nike’s commitment to excellence and performance, combined with its iconic branding and marketing campaigns, has made it a dominant force in the athletic industry for over five decades.
History about McDonald’s.
McDonald’s is a multinational fast-food chain that has become one of the most recognizable brands in the world. The company was founded in 1940 by brothers Richard and Maurice McDonald in San Bernardino, California.
Initially, McDonald’s was a simple drive-in restaurant that served basic menu items such as burgers, fries, and milkshakes. However, in the 1950s, the company began to expand and franchise its operations, leading to a rapid growth in popularity and profitability.
One of the key innovations that helped propel McDonald’s to success was the development of the “Speedee Service System,” which streamlined the cooking and serving process and allowed for faster service and greater efficiency. This system helped McDonald’s become known for its quick, convenient, and affordable food, which appealed to busy Americans.
In the 1960s, McDonald’s began to expand internationally, opening restaurants in Canada, Puerto Rico, and Europe. The company also introduced new menu items such as the Big Mac, which quickly became a customer favorite.
Throughout the 1970s and 1980s, McDonald’s continued to expand its operations and diversify its menu. The company introduced breakfast items such as the Egg McMuffin and expanded into new markets such as Asia and Latin America.
However, in the 1990s, McDonald’s faced increased competition from other fast-food chains and criticism from health advocates who accused the company of contributing to the rise in obesity and other health problems. In response, McDonald’s began to introduce healthier menu options such as salads and grilled chicken sandwiches, and started to focus on marketing campaigns that emphasized the quality and freshness of its ingredients.
In recent years, McDonald’s has continued to evolve and adapt to changing consumer preferences and trends. The company has expanded its menu to include vegetarian and vegan options, and has introduced new technology such as self-service kiosks and mobile ordering to enhance the customer experience.
Despite the challenges and controversies that it has faced over the years, McDonald’s remains a global icon and one of the most successful and recognizable brands in the world. The company’s commitment to innovation, convenience, and affordability has helped it maintain its position as a leader in the fast-food industry for over 80 years.
Interesting facts about McDonald’s:
McDonald’s was originally a barbecue restaurant: When the first McDonald’s opened in 1940, it was actually a barbecue restaurant owned by brothers Richard and Maurice McDonald. It wasn’t until a few years later that they switched to selling burgers, fries, and milkshakes.
The company’s iconic Golden Arches were introduced in 1953: Originally, the Golden Arches were simply a design element on the building’s exterior, but they soon became synonymous with the McDonald’s brand.
The first McDonald’s franchise opened in 1955: The first franchise was opened by businessman Ray Kroc in Des Plaines, Illinois. Today, there are over 38,000 McDonald’s restaurants in more than 100 countries.
The Big Mac was introduced in 1968: The Big Mac, which consists of two beef patties, special sauce, lettuce, cheese, pickles, and onions on a sesame seed bun, quickly became one of McDonald’s most popular menu items.
McDonald’s is the world’s largest toy distributor: Through its Happy Meal program, McDonald’s has distributed billions of toys to children around the world. In fact, the company is the largest distributor of toys in the world, even surpassing toy giant Hasbro.
McDonald’s sells over 75 burgers every second: That’s right – according to the company’s website, McDonald’s sells over 75 burgers every second. That’s over 2.3 billion burgers per year!
The McRib was originally created as a limited-time menu item: The McRib, a boneless pork sandwich, was originally introduced in 1981 as a limited-time menu item. However, it has since become a popular seasonal item that is periodically reintroduced to the menu.
McDonald’s employs over 1.7 million people worldwide: With restaurants in over 100 countries, McDonald’s is one of the largest employers in the world. In fact, the company employs more people than the entire population of some small countries.
The company’s famous “I’m Lovin’ It” jingle was written by Pharrell Williams: In 2003, McDonald’s launched a new marketing campaign featuring the catchy “I’m Lovin’ It” jingle, which was written and produced by musician Pharrell Williams.
McDonald’s has its own university: Hamburger University, located in Oak Brook, Illinois, is McDonald’s corporate training center. It offers courses and programs on various aspects of the fast-food industry, including restaurant management and operations.
History about Lego.
Lego is a Danish toy company that produces interlocking plastic bricks, as well as other construction toys and accessories. The company was founded in 1932 by Ole Kirk Christiansen, a carpenter who started out making wooden toys.
Initially, Lego produced a variety of wooden toys, but the company began producing plastic toys in the 1940s. The company’s first plastic product was a simple plastic duck, but soon after, Lego began producing interlocking bricks, which became the company’s signature product.
The first Lego bricks were introduced in 1949 and were made of cellulose acetate. However, in the 1960s, the company began producing bricks made of acrylonitrile butadiene styrene (ABS), which is a more durable and long-lasting plastic.
Throughout the 1950s and 1960s, Lego continued to innovate and expand its product line. In 1955, the company introduced the “LEGO System of Play,” which included a range of sets and accessories that could be combined to create a wide variety of structures and designs. The following year, Lego introduced its first themed sets, including a castle and a train set.
In the 1970s and 1980s, Lego continued to grow in popularity, and the company expanded into new markets, including the United States and Japan. Lego also introduced new product lines, including the popular “Technic” line, which featured more complex and sophisticated sets with motorized and movable parts.
In the 1990s, Lego faced increased competition from other toy companies and a decline in sales. In response, the company introduced new product lines, including licensed sets featuring popular characters such as Star Wars and Harry Potter.
In the early 2000s, Lego underwent a major transformation, with a new CEO taking over and leading the company through a restructuring process. The company focused on its core product line of interlocking bricks and introduced new innovations such as the “Mindstorms” line of programmable robots.
Today, Lego is one of the most successful and recognizable toy companies in the world, with a range of products and sets that appeal to children and adults alike. The company has also expanded its brand beyond toys, with theme parks, movies, and other forms of entertainment. Despite facing challenges and competition over the years, Lego has remained committed to its mission of inspiring creativity and imagination in children around the world.Interesting facts about Lego:
The word “LEGO” comes from the Danish words “leg godt,” which mean “play well.”
Lego is the world’s largest tire manufacturer: While Lego is best known for its plastic building bricks, the company also produces a variety of other products, including tires for toy vehicles. According to the company, it produces over 318 million tires each year, making it the world’s largest tire manufacturer.
The first Lego minifigure was introduced in 1978: The minifigure, which stands about 1.5 inches tall and has moveable arms and legs, quickly became a popular addition to Lego sets.
Lego bricks are designed to last for generations: According to the company, Lego bricks are designed to last for at least 50 years, and many bricks from the 1960s and 1970s are still in use today.
The Lego Group is one of the world’s largest toy manufacturers: According to Forbes, the Lego Group is the world’s third-largest toy manufacturer, behind only Mattel and Hasbro.
There are over 600 billion Lego bricks in existence: As of 2021, it is estimated that there are over 600 billion Lego bricks in existence, which is enough to circle the Earth more than 18 times.
The Lego Group is one of the world’s largest employers of designers: The company employs over 400 designers who are responsible for creating new Lego sets and products.
The largest Lego model ever built was a replica of a Star Wars X-Wing fighter: The model, which was built in 2013, measured over 44 feet long and used over 5 million Lego bricks.
Lego has been featured in multiple movies and TV shows: Lego has been featured in a variety of movies and TV shows, including the popular Lego Movie franchise, which has grossed over $1 billion at the box office.
The Lego Group has a sustainable materials goal: In 2015, the Lego Group announced a goal to use sustainable materials in all of its products by 2030. The company has since made progress towards this goal, including introducing new plant-based plastic materials for some of its product.
Famous companies that have gone a bankrupt.
Bankruptcy is a legal status for a company that is unable to repay its debts. It can be caused by a variety of factors, including economic downturns, mismanagement, and competition. Even some of the most successful and well-known companies have faced bankruptcy at some point in their history. Here are a few examples:
Toys “R” Us: Toys “R” Us was once the largest toy retailer in the world, with over 800 stores in the United States alone. However, the company faced increasing competition from online retailers and struggled to keep up with changing consumer trends. In 2017, Toys “R” Us filed for bankruptcy, citing over $5 billion in debt. The company closed all of its U.S. stores in 2018.
Blockbuster Video: Blockbuster Video was once the dominant player in the video rental market, with thousands of stores around the world. However, the company failed to adapt to the rise of digital streaming and faced increasing competition from companies like Netflix. In 2010, Blockbuster filed for bankruptcy and closed most of its stores.
Kodak: Kodak was once a leader in the photography industry, known for its iconic film cameras and photographic film. However, the company failed to keep up with the shift to digital photography and faced increasing competition from companies like Canon and Nikon. In 2012, Kodak filed for bankruptcy and eventually sold off many of its patents and assets.
Lehman Brothers: Lehman Brothers was a global financial services firm that was one of the largest investment banks in the world. However, the company made a series of risky investments in the subprime mortgage market, which led to massive losses during the 2008 financial crisis. In September 2008, Lehman Brothers filed for bankruptcy, which triggered a global financial crisis.
Pan American Airways: Pan American Airways, also known as Pan Am, was once one of the largest and most iconic airlines in the world. The company was known for its luxurious planes and international routes, but it struggled to keep up with the rise of low-cost airlines and increased competition in the industry. In 1991, Pan Am filed for bankruptcy and ceased operations.
Enron: Enron was a Houston-based energy company that was once one of the largest corporations in the United States. However, the company engaged in widespread accounting fraud and financial mismanagement, which led to its collapse in 2001. The scandal led to new regulations and increased scrutiny of corporate accounting practices.
These are just a few examples of famous companies that have gone bankrupt. While bankruptcy can be a difficult and painful process, it is sometimes necessary for companies to restructure and emerge stronger and more resilient.
In conclusion, the development of well-known brands goes through several stages, from inception to maturity and beyond. Every brand has its own unique story, but there are common themes and strategies that have helped many brands succeed. These include a strong brand identity, a clear understanding of the target audience, innovative marketing and advertising campaigns, and a focus on customer experience.
Throughout history, many brands have faced challenges and obstacles, but the most successful brands have been able to adapt and evolve over time. From Nike’s early success in the running shoe market to McDonald’s domination of the fast food industry, these brands have consistently innovated and expanded their offerings to stay relevant and appeal to new audiences.
Today, as the business landscape continues to change rapidly, it is more important than ever for brands to be adaptable and forward-thinking. Brands that are able to stay ahead of the curve and anticipate changing consumer trends are the ones that will thrive in the years to come.
Ultimately, the development of well-known brands is a testament to the power of creativity, innovation, and perseverance. By understanding the stages of brand development and the strategies that have helped other brands succeed, entrepreneurs and marketers can build their own brands that resonate with consumers and stand the test of time.
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