Although many brands aspire to resolve problems with the status quo, only a minority achieve their goal with any measure of success. Challenges often stem from companies’ inabilities to understand customer expectations, readapt, and appropriately brand themselves to the marketplace. Think Borders and Toys R Us—both plummeted due to online shipping—and Kodak who failed to transition to digital cameras in time.
The phrase “A rose by any other name” was coined by William Shakespeare in Act-II, Scene-II of Romeo and Juliet. Juliet says “What’s in a name? That which we call a rose, by any other name, would smell as sweet” in reference to her family, and the family name of Romeo. In essence, she says a name cannot affect what something actually is. This line is, in reality, very profound, suggesting that a name is just a label to differentiate and distinguish one thing from another.
Because TV spots and other forms of traditional advertising are no longer the primary medium to reach consumers, marketers are being challenged to craft a bigger story. In the past, a commercial could easily provide a 20 to 45-second narrative. Today, you need to showcase a cohesive brand personality, across multiple forms of social media, in ads, and on your website.