Some brand advice for those bidding on Chrylser
As investors line up with bids for Chrysler, I’d like to offer a bit of advice from a brand perspective. While the company has many fine autos on its assembly lines, I’d hazard a guess that there are few consumers who could tell you exactly what the Chrysler brand stands for. Mention that Chrysler is introducing a new model and ask people what they expect it to look like, who it might appeal to, and how it would drive, and you’d most likely get a blank stare. Blank stares are not good when it comes to branding.
The first rule of building a successful brand is to simply and crisply define what you want it to represent in the minds of consumers. If you can’t clearly define what makes your brand different, you’re never going to have a brand that’s worth more than an “Oh yeah. I think my uncle owned one of those.”
Second, once the new owners of DaimlerChrysler establish a differentiated meaning for the Chrysler brand, they’ve got to focus relentlessly on bringing it to life. The way Chrysler automobiles are engineered, the way they drive, the way they look. This means being ruthless about examining the entire portfolio of current offerings and determining which deliver on the Chrysler brand and which don’t. While PT Cruiser, Sebring, Town and Country, and Crossfire are all nice cars with nice names, nice doesn’t win in the brand game. If these sub-brands don’t have what it takes to drive home the Chrysler name they’re not worth having on the lot. Those who bid for Chrysler must be willing to put every dollar behind defining and supporting the Chrysler name, and the Chrysler name only.
While this advice is a lot easier to offer up than it is to achieve, it’s essential that those reaching for their checkbooks take heed. Before considering a bid for Chrylser, they must figure out what they’re going to do with it once they own it. The most powerful brands on the planet succeed because they stand for something different and relevant. Just as all the advertising in the world can’t help a brand with an identity crisis neither can the deepest investment wallet. Spend - and brand - wisely.