If logos had always been more simple, without hidden messages or clever abstract symbols, what effect do you think it would have on brand recognition today?
As I looked through the logos on the website that Melissa shared, I kept thinking how simple,yet clever these logos were. I also thought about how these clever logos actually made me want to utilize the product or service that these companies were providing, even though I hadn't even heard of a lot of them. With their hidden messages and clever abstract symbols I found that these logos were extremely memorable.
I believe that without hidden messages or clever abstract symbols brand recognition would not be the same today. Of course we will remember the logos of really large, popular companies such as the McDonald's Golden Arches, but for brand recognition smaller companies need to get whatever competitive edge they can. If these companies didn't use hidden messages and clever abstract symbols they would be easily forgettable. Had the logos on the website not have been so clever I wouldn't have thought twice about them. But, because these companies took the time to make clever logos they have made themselves memorable. People take an extra second to look at the logo and understand it. If it's funny sometimes they show others. The logo then becomes recognizable to them because it made an impression. Without the clever logos small companies may not be remembered.
What is a company that has made a lasting impression on you with a hidden message or clever abstract symbol in their logo? Even if that company produces a product or service that wasn't quite as good as the competition, were they more memorable to you because of their logo?
Wednesday, February 27, 2013
Hyundai Assurance Buy-Back Program
In class this week we discussed how Hyndai had successfully created the Hyundai Assurance Program. The program went on for 26 months and helped increase auto-sales for New Hyundais during the recession. It helped assure people that it was okay to buy a new car because if they lost their job they would be covered. Although this program only lasted for 26 months in 2011 Hyundai started a new assurance program.
Hyundai's latest assurance program is the Hyundai Assurance Buy-Back Program. Where before Hyundai guaranteed that they would take your car back if you lost your job, they are now assuring the price of your car for a trade in 2-4 years from now. They give you a projected residual value for a later date when you go in to buy your new car. When you actually go to trade in your Hyundai they view the actual residual value and the one that they projected when you bought the car and you get the higher of the two. The only catch? You must keep your car maintained at the Hyundai authorized dealer.
These programs that Hyundai has created has increased their sales above the market's increased sales. Other factors that have also increased Hyundai's sales are better designs, better reliability, and better mileage than before.
I found an article from CNBC describing the program called Hyundai's Latest Assurance Program Could Be Trouble for Competitors. The following link can bring you to it to read more if you are interested,
http://www.cnbc.com/id/42748675/Hyundai039s_Latest_Assurance_Program_Could_Be_Trouble_for_Competitors.
What other companies have taken on programs like this? Were they successful? Why or why not?
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