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Join Date: Feb 2009
Location: Currently in Perth, WA
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| | Re: Little known fact about marketing
Once your brand name is deemed to legally be a common-use word, this means that all your competitors can use in in their advertising, whereas you can't use their brand names in yours (generally). Thus, through sheer overuse in areas you can't control, the recognition value of the brand is watered down until people don't even associate it with your company or product any more.
In the worst cases, people may even forget you exist, because you don't have a brand name worth spit any more.
"We need a Xerox machine. Anyone know the name of a copier company?"
If you've poured a lot of money into that brand name, it can cost enormous amounts to either rebrand under a new moniker or 'take back' the name via advertising campaigns.
Of course, if you can manouver your competitor into this position, thus forcing them to waste money on retaining/revamping their market brand, that puts you ahead.