Are You a Discounting Brand?

Recently I read a brilliant interview of Lutz Bethge, CEO Mont Blanc at economictimes.com. He was asked whether he would also resort to discounting like other luxury retailers. Here is what he said:

“That is not our way. Mont Blanc has always conveyed to customers that we create products of sustainable value. …If you have a promise from a brand that says this is the kind of product you can pass down the generations and the next day you see it heavily marked down, would you still trust the brand?”

I have enormous respect for the confidence he has in Mont Blanc. A true brand is what it stands for unaffected by the market conditions.

We too, like these brands get under pressure in challenging times. We too have the temptation to surrender our values and embrace painless choices. We forget, that’s the real test of what we stand for. If we stand by our values even in demanding times, we would rise above mediocrity and be an example for mankind to follow.

What's Your Brand Name?

Nike, GE, Philips, Fed Ex, Ferrari, Toyota, Google, Rolex--- What do these brands known for? You’d say reliability, quality, good service, value, trust, innovation etc.

How did these words flash to your mind? Most of these companies have been in business for decades and have displayed these incredible characteristics over a period of time, which have created a niche in our memory.

Does this apply to us human beings? Oh yes!

In my behavioral training sessions, I ask participants to think of five adjectives what their family, friends and relatives will put before their name. This is a very powerful exercise which gives them an opportunity to see from a different eye. You can try this too.

Each one of us has created a brand image in the eyes of others and will continue to do so. Based on which our relationship is defined. Now, it is up to you to decide what do you stand for--- trust, reliability, innovation, energy or ---?