this post was submitted on 19 Aug 2024
1490 points (99.0% liked)
memes
10310 readers
1831 users here now
Community rules
1. Be civil
No trolling, bigotry or other insulting / annoying behaviour
2. No politics
This is non-politics community. For political memes please go to !politicalmemes@lemmy.world
3. No recent reposts
Check for reposts when posting a meme, you can only repost after 1 month
4. No bots
No bots without the express approval of the mods or the admins
5. No Spam/Ads
No advertisements or spam. This is an instance rule and the only way to live.
Sister communities
- !tenforward@lemmy.world : Star Trek memes, chat and shitposts
- !lemmyshitpost@lemmy.world : Lemmy Shitposts, anything and everything goes.
- !linuxmemes@lemmy.world : Linux themed memes
- !comicstrips@lemmy.world : for those who love comic stories.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Absolutely.
Look all around you and what you see in pretty much all domains is large corporations wringing every drop of brand value they can from accumulated customer brand awareness and loyalty, from enshittification of pretty much everything Internet and of electronics from brands which were previously seen as a good quality-price balance, to forced subscriptions (hi, Adobe) and even as in this case, store chains with well known brands in everything from consumer goods to fast food pushing prices up and/or quantity and quality low.
Sure, for many if not most this will trash those companies' brands, but as the C-suite at those places have been taught in their MBAs, "by the time it blows up, I'll be long gone and laughing all the way to the bank to visit all that money I made from bonuses and a golden umbrella"
Yeah they seem to think of “brand value” as loyalty akin to what people feel for a local sports team, and some brands do have that “hometown favorite” value. I know my hometown brand of potato chips definitely does taste like home. But also, they need to be thinking of it in a term that business ghouls can understand: professional reputation.
The organization of subway has a bad professional reputation. Its customers are unimpressed by its services in their transactions with it, they feel it offers a bad value proposition.
Businesses have gotten accustomed to the brand treadmill rather than just doing something well and being ok with the margins that provides. And if it isn’t an investment in growth a business should be able to reach that point where it finds stability and maintains it, providing stable profits.