Can having an established brand ever work against me?
Can having an established brand ever work against me? Well, not really. To most, an established brand would be the goal. But there are a few situations where being an unknown can be an advantage. If your business is of a sensitive nature, (Cambridge Analytica springs to mind, or an abattoir for example) you probably wouldn’t want to become a household name – you might become the face of something perceived as a “bad thing”. But for 99% of businesses, an established brand results in increased turnover. Simple as that.
There is also the issue of being known for one thing at the detriment of others – but that can be sorted with good brand strategy. An example of this might be Euro Car Parts, who also sell all other car parts (bad name in hind site – should have planned it better)
One potential issue to watch out for is standards slipping, bad customer experiences and scandal – An outbreak of salmonella could be a PR disaster for an established – restaurant the bigger the brand of restaurant the more people will hear about it. It takes one bad review to bring down a chain of restaurants or BP and the Gulf Oil disaster.