29 Apr

Google; brand numero uno and worth $66 Billion

Google beats Microsoft, Coke in the brand stakes | CNet
For some, brand is still something esoteric, but there is nothing esoteric about US$66 Billion. That is more than half of its market value of $110 Billion…
I won’t bore you with the way they calculated the $66 Billion, but there are a couple of quotes that bring it home nicely:

  1. “Google is an absolutely phenomenal brand in the sense that it is very clear what it stands for and it has perceived leadership and innovation,” Peter Walshe, global brands director at Millward Brown Optimor, told Silicon.com.
  2. David Winer notes: “Now, if you stopped a man or woman in the street and asked what Google means, what would they say? I don’t know, but I suspect they would say “The Internet.”

Simple, but powerful.

03 Apr

Jack Trout and Al Ries – the record set straight

I emailed Jack Trout to let him know about the wikipedia entry on Positioning which showed the names of Gary Sinclair and Mart Reilly as the authors of his (and Al Ries’) legendary marketing book. Between my email and my blog post on the subject, someone has changed it back to “Jacques Trout” (Jacques??) and Al Ries. Looks like it was just a bit of vandalism.
So in some ways Wikipedia works; it is self-correcting, as supporters would say.

On the other hand, how many people have seen the entry in the meantime? How long had it been like that before someone picked it up?
Is it significant? I think so. People are turning to Wikipedia in droves and use it as an Encyclopedia; for them it is the final word on a particular issue.

Here are the website traffic stats for wikipedia.org versus Encyclopedia Brittanica over three years:

graph.gif
Quoting the wrong author in your marketing essay is probably just embarrassing, but what if there is an entry on you, your firm or your product that fundamentally changes someone’s perception?

Will they check back once in a while to see if it has changed? I don’t think so. It’s a very tricky problem.

01 Apr

Jack Trout never wrote “Positioning: The Battle for Your Mind”.

Well, not according to Wikipedia anyway. This is the entry:

A product’s position is how potential buyers see the product. Positioning is expressed relative to the position of competitors. The term was coined in 1969 by Gary Sinclair and Marty Reilly in the paper “Positioning” is a game people play in today‚Äôs me-too market place” in the publication Industrial Marketing. It was then expanded into their (my bolding – dk) ground-breaking first book, “Positioning: The Battle for Your Mind”.

There is a lot of argument about the power of Wikipedia, its accuracy and what it can do to your brand. This is probably someone’s prank (as anyone can edit the page) but either way, I don’t think Jack and Al will be too impressed with this attribution. Or what it does to their respective brands. People take Wikipedia seriously after all…

PS: Scroll to the bottom of the wikipedia entry and you’ll see they are mentioned in the references,