Branding is a buzzword that’s tossed around all the time in the marketing world. I Googled the term—define branding in marketing—and came up with this definition: “The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products. An effective brand strategy gives you a major edge in increasingly competitive markets.”
Why is this relevant? I just read in the Portland Business Journal that retailer HHGregg is closing all of its 222
stores on Thanksgiving. Company CEO Bob Riesbeck said that “It’s important to us that our associates are able to be home with their families on Thanksgiving, and we are encouraging our customers to do the same – knowing great deals will be available online on Black Friday and through the weekend.”
This giant retailer is not the first company to take this path. But other companies in this space, namely Macy’s, Target and Kohl’s, are open on Thanksgiving as they try to complete with the growing online retailer community. You can argue the issue on many levels but my interest lies in the branding aspect.
Does closing its doors on Thanksgiving so that employees can be with their families make you want to shop at HHGregg and avoid Macy’s? Last year Apple launched its Apple Global Volunteer Program. Locally, Nike has its Nike Community Impact Fund. Do I now have a preference to buy products from Apple and Nike simply because they give back to the community? Maybe and maybe not, but knowing about these types of programs raises my awareness of the companies which, in turn, helps them to build a positive brand.
When your company designs marketing programs, do you take into consideration how the product or program will be viewed? Is it worth it for large retailers like HHGregg to take the financial hit by closing its doors to allow their employees to focus on family first during the holidays? The impact on the bottom line might not be positive, but the impact on your brand and your employee well-being certainly will be.