It is difficult to avoid politics these days. Right now, both political brands are becoming parties that do not stand for anything but stand against everything or stand for everything. Having a relevant, differentiated brand promise applies whether you are a political entity or a packaged goods offering.
Probably no surprise to those who chronicle our fractured behaviors, we have become unwilling to compromise. As uncompromising consumers, we want benefits that contradict and complement at the same time. We want brands to consistently deliver a paradox promise.
Recently, Bloomberg ran an article about Dr. Bronner’s. If you are unfamiliar, Br. Bronner’s Wikipedia page states: “Dr. Bronner’s Magic Soaps is an American producer of organic soap and personal care products headquartered in Vista, California. The company was founded in the late 1940s by Emanuel Bronner and continues to be run by members of the Bronner family. The company’s products are known for their text-heavy labels and the variety of their advertised uses for a single product (e.g., one soap advertises eighteen uses, from toothpaste and shampoo to toilet scrubber and insecticide).”
Why would a brand give up on a winning brand promise? Why not contemporize that winning brand promise? Why decide it is best to copy strategies from other brands when you already have a winning strategy that just needs some modernizing?
Macy’s last earnings call (August 2024) showed a second-quarter adjusted earnings of 53 cents. Analysts’ estimates were only 30 cents. That beat did not positively affect Macy’s stock price. Macy’s concerns about “ discriminating” consumers soured the analyst community and Wall Street denizens, according to financial newspaper, Barron’s.
