A Final Word on Branding

By Naseem Javed Founder, ABC Namebank International | May 19, 2010

Roy Disney said, "You need branding when your product has nothing to offer." Roy's uncle, Walt, invented Mickey Mouse and created the Disney empire. At the time, the word "branding" was reserved only for cowboys branding herds of cattle by the fiery iron.

The word "branding" is dangerously overused. Many people use branding as a cure for all kinds of problems in all kinds of businesses. To lay claim to a deeper understanding of this elementary word, branding agencies all over the world have developed some cute variations of it, from "emotional branding" to "primal," "sensory," "musical," "internal," "external," "holistic," "vertical," "abstract," "nervous" and all the way to "invisible" branding. However, to see these distinctions, you will need special 3D spectacles.

The list of branding types is almost like the three MIT wizards who took an academic conference for a ride by submitting a paper in all fake jargon: "Rooter: A Methodology for the Typical Unification of Access Points and Redundancy." Their paper was accepted.

Haphazard Branding

There are hundreds of such branding terms pointing to the same thing. Let's analyze and see how this historical process of branding ownership marks on animals got transformed into a word circus, bending the state of mind among corporations, institutions and many governments.

Branding is often presented as a culturally, emotional or lifestyle crazy, sugarcoated packaging process. Sometimes it is like rap music, with spinning colors or psychedelic pastel overtones accompanied with hip-hop idea drivers. Other times it comes with esoteric concepts to camouflage the products or services just long enough to get the customers' attention. Most of the time, it comes as juicy ideas under some new blanket term of branding that is designed to create a safe and secure feeling for the corporation while waiting for the thunder from the charge of anxious customers.

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Revenue Management has evolved into an indispensable area of hotel operations, chiefly responsible for setting forecasting and pricing strategies. Because the profession is relatively new to the hotel and hospitality industries, a clear-cut definition of what exactly Hotel Revenue Management is has only recently emerged - Selling the Right Room to the Right Client at the Right Moment at the Right Price on the Right Distribution Channel with the best commission efficiency. Though the profession can be summed up in a single sentence, that doesn't mean it's easy. In fact, it's an incredibly complicated and complex endeavor, relying on mountains of data from a wide range of sources that must be analyzed and interpreted in order to formulate concrete pricing strategies. To accomplish this, Revenue Managers rely on an array of sophisticated technology systems and software tools that generate a multitude of reports that are central to effective decision-making. As valuable as these current technology systems are, much of the information that's collected is based on past historical trends and performance. What's new is the coming of big, data-driven, predictive software and analytics, which is likely to be a game-changer for Revenue Managers. The software has the capacity to analyze all the relevant data and predict occupancy levels and room rates, maximizing hotel profitability in the process. Another new trend that some larger hotel chains are embracing is an emphasis on Booking Direct. For Revenue Managers, this is another new channel with its own sales and costs that have to be figured into the mix. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.