January 20, 2009
Some Brand Naming Stays Fresh Through Reinvention
There are many things to be learned from brands that have the ability to expand and reinvigorate in today's market.
One prime example comes from Chattem, which owns Gold Bond, a hundred year-old cream that has been a staple in American medicine cabinets for so long that we've almost forgotten about it. They now have a lip balm and over two dozen other Gold Bond offerings, including Icy Hot pain reliever and Selsun Blue, along with Kaopectate and Balmex which they recently picked up.
After acquiring these well-known names, Chattem simply adds a catchy tagline or slightly repositions them. One example is Selsun's "Never Wear Black Without the Blue" ads, which doubled the shampoo's sales.
The key to the company's success is in selecting small, isolated, but nonetheless well-known brand names that seem to have the durability to stand the test of time.
There are two other great examples I would like to mention that seem to be getting a new lease on life by refreshing popular brands.
The Electric Company TV show is back and set to be just as hip as its 70's counterpart. And the luxury stalwart of the 1980s, the Sharper Image, has been reborn as a more downmarket and affordable licensor (the shops are gone for good).
These brand names seem to have the ability to hang on through even the toughest of times because they are well-known, well-positioned, and fondly remembered by customers despite lackluster performances in the past.
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