I thought: 'Great. You bombed at playing German ... so now you're trying to be Japanese?' Then my alter ego (allegedly the smarter one) muscled in: 'This is great. It's brave, determined and full of confidence.' He has a point. This is brand building.QQ] Brand building is one of the most successful routes through a recession. The likes of Millward Brown, PIMS International and even Procter & Gamble have been telling us this for years. Alan Lafley, chief executive of P&G, once said: 'When times are tough, you build share.'
OK, it may not seem cost-effective at the time. But it usually pays off in the end. Brands investing in a downturn invariably resurface stronger when the skies brighten. I would even argue that it pays off during the merely cloudy times as well. A strong brand gives consumers confidence and belief. Companies with brands in the BrandZ Top 100 have significantly outperformed those in the S&P 500.
Amid all the budget cuts, it's a breath of fresh air to see a client invest in a rebrand on this scale. Well done, Citroen.
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