What's your name – the WTC and the Ironman brand
Appears for almost every popular brand whose leaders are not familiar with basic product and brand management skills. By developing and keeping a company's strategic brand vision, the brand is able to evolve and develop on its own, without thinking of ultimately how it can lead to its downsizing or at least some unforeseen transformation.
The cycle of how to lose your way is usually usually something like that. The brand starts with a spotlight that is often the same. He then creates a small, but loyal tracking, generates momentum in the mouth and marketing world, becomes popular, grows in status, appears in special stores, becomes more and more popular, moves into more and more mainstream, loses some of his cache now that everyone finds it, Mart, becomes a commodity, and now I'm just another pole for the consumer. And its original buyers probably left it.
Now, it's great if your target is on shelves shelved on Wal-Mart or Target. But this is not so great, for example, if you originally wanted to see the highest quality service providers found only in Neiman or Saki stores. But somewhere along the way, the fraud of large-scale massive exposure often means too much resistance and companies leave any strategy and only find another element on the wall.
It's one of the best. Do you remember when Columbia Sportwear was considered a small status brand? When was Eddie Bauer considered high quality? When did an Ironman report 140.6 miles? There is no right or wrong here, only a choice. Would you like Calvin Klein to sell your products at TJMaxx or just in the upper stores?
Does it seem like a silly conversation? It is not. There is a value that attributes status to consumers. Which one would you choose? Chevy or BMW? Are Baume & Mercier or Seiko? He would probably pick up BMW and Baume & Mercier. But why? In fact, there is undeniably little difference in what you buy. They will both tell you what time it is and get to where you want to go. In fact, Chevy and Seiko are likely to have much better experience from the point of view of reliability and cost. But we still love our brands.
Do not underestimate what your name is. From a marketing point of view, a name accelerates the process of informing consumers. A brand name or trademark allows the company to communicate with a simple name or logo. From an economic point of view, this efficiency reduces transaction costs. Marketing sense reduces noise and allows clarity of the message.
A good example of this is to look at Apple. At a glance, the logo can communicate with everything they have been doing in brand creation. Look at Apple's logo and think about quality, iPad, uniqueness, cutting-edge design, modern, reliable, expensive Steve Jobs, iPhone, market leadership, and more. there are a lot of important data in that little fruit.
So, with the small marketing overview behind us, I turn to the World Triathlon Corporation (WTC). Most people have never heard of such an organization, but most people have at least heard their most popular brand; Ironman. Ironman meets all the criteria that are considered a bottom-up story. As was the beginning of How Did This Ironman Thing, this small, local event in Hawaii at the end of the '70s changed to a mega marketing device that carries everything from watches to running shoes. However, as the name grew, it seems to have lost its way. The Ironman brand or product or just one event – or all three? The fact that you have to talk, you have to say that there is a problem.
From the start, WTC was the Ironman brand and product. This is perfectly acceptable as many companies start this way and forever connect to their first product. Your favorite soft drink is a good example of this. When new products were developed in the 40s and 50s such as Fanta and Sprite, new brands were created. They were not sold as Coke Fanta or Coke Sprite. You can imagine that the confusion of the grocery store looked at the walls of products that they called Coke. The message would be recorded by everyone. There is no doubt; surely many of his names.
So where's the problem going? The WTC was a very clever thing when they reached the traditional 140.6 mile Ironman and created a shorter distance of 70.3 miles. Half as in marathon madness, it opened up a whole new audience for ultra-distance triathletes and introduced many athletes to Ironman's brand. And another positive step in the growth of sport, the WTC has put in place a plan to create an Olympic long distance race series.
Of course, this does not come from the goodness of their heart. WTC licenses competitions, commodities, entry fees and television contracts with NBC / Universal Sports competitions. I'm all looking for money and money for the WTC to take full advantage of this opportunity. However, a strange thing happened on the way to the bank. The brand has lost its way
Perhaps a simple defect, or perhaps exploiting the popularity of the brand, WTC named the 70.3-mile "Ironman 70.3" series. So now things are common, such as: What is Ironman? How far is Ironman? Why is Ironman called? – Oh, you were in Ironman Florida – did not you do one of Ethel's in Orlando last weekend? Ironman has diluted and now provides small, accurate information that even triathletes need to pause for a conversation and clarify the distances they talk about. All Ironman. It's like a copy of each beverage consumed in the retail trade. He lost the punch.
So is anyone really interested? When buying a brand; I care. For the same reason, he would not change his BMW logo on a Yugo tag. And if you handle a brand, take care of it. WTC's weaknesses in the Ironman brand make it worse, and this is a dangerous area for an organization that relies heavily on over-priced entry fees and the brilliant position and power of the branded products.
The breakthrough has been aggravated recently due to two marketing mistakes in the WTC. First, they tried to sell special access to services through a program that had little real value and then raised it to $ 1,000 each year (this program was pulled out a few days after the complaints were overrun). Secondly, the brand check was incomplete when the 2010 Miami Ironman 70.3 ran out of the water at the start of the race, changed the runway before the race and started cycling on the road to the Miami Roads with little control. The WTC replied that it was not their fault. They sold the name to a local tournament manager who did a bad job at the tournament. WTC in 2011 offered free admission to IM 70.3, but I doubt it will help many people who have been there and have been training for most of the year.
The brand loses its cache position in the triathlon community. I have already seen that. From hardcore athletes to week-end warriors are experiencing disturbances that point to growing dissatisfaction with the brand, as they point to serious trade, bulk marketing, and lack of parenting of major clients and products; the real Ironman long distance athletes. These athletes (Ironman's main customer) are starting to look for non-Ironman events. Essentially, they look for the old Ironman experience.
Some of the damage has already taken place, but there is a way to redemption. The first thing to create independent brands at different distances (product families) and handle them properly. Lexus customers expect a different experience than those who buy Toyota. The WTC must recognize that each and every group of athletes wish to contribute to a specific event. If you use the Ironman brand in all races, you deny everyone the enjoyment. Full Ironman distance athletes dazzle themselves because the brand has decreased in smaller distance races. Likewise, the 70.3 long distance drivers must keep explaining that they did not actually make "Ironman", half a million and so on … very annoying.
Maybe the repair is in the works. I've only seen one version of the name and logo of the new Olympic distances, and not Ironman (thank goodness). "5150 Triathlon Series" is replaced by "I" from Ironman instead of 5150. Hopefully they will avoid using M-Dot and their premiere event will be 140.6 Kilometers Ironman Distance
The next step to redeem is to rename the 70.3 miles race. I do not have bones with these species. In fact, I like this distance and I'm doing it myself. But 70.3 is not Ironman. I'm not the name of events, but I suggest using the same logic for the 5150 series. Let's say something completely different and passively connect the master brand. Either way and again, find a new naming convention because 70.3 miles is simply not Ironman.
The Ironman brand is both grown up and far from Hawaiian roots. Of course, there is a good line between using the brand to promote sport and damage the wrong steps and overexposure. Hopefully, the 5150 series is the right way to handle this coveted name.
Source by sbobet th