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Monday, April 12, 2010

Financial Profits - It's in the Brand

This past week I visited Disney Theme parks along with numerous others around the world.  As I enjoyed the shows and the Magic of returning to my childhood I began to theorize the finance role in profitable business is critical - with a sale.  The marketing of the Disney brand is phenomenal and while I gladly paid for the entertainment, it was apparent that pricing structure was less of a driver as the marketing which has created a brand experience.

5 key drivers are the following:

  • Sell more to existing customers.  The up sale was alive.  Once in a park, you were there to live the experience.
  • Service and Management.  World Class delivery to the customer.  The service delivers the brand to the market and continuous to promote it.  Management effectively aligned the theme through out.
  • Continuous Promotion.  The promotion is with us every day.  It's on our televisions, radio, web, and part of the culture we live.  
  • Always improve and add to your offerings.  While I have visited on numerous occasions, the themes were fresh and new through out.
  • Tracking Business.  Successful business know there business.  There is no substitute and all employees within the organization need to live and breathe the culture.
David Ogilvy states, “You now have to decide what 'image' you want for your brand. Image means personality. Products, like people, have personalities, and they can make or break them in the market place.”  People create the brand and delivery and effective management is a key to delivery.