It is one thing to develop an emerging brand in a booming economy but another altogether to maintain the brand into the long term.
With the state’s economy in the midst of a boom, there’s a perception that certain industries are not taking measures to protect their brand when the inevitable downturn takes place.
According to Marketforce Chairman and CEO John Driscoll, the property market was just one example of this trend, with a number of housing companies cutting back on advertising due to the fact they can’t meet market demand.
“There are stories of customers or potential customers having a bad experience at the moment and that has the potential to damage the companies’ branding,” he said.
It was a similar story in the building sector, Mr Driscoll told WA Business News.
“I would suggest that very few of them are investing in their brand to build a brand that will come out of the other end of the boom as a market leader,” he said.
Mr Driscoll said branding was not just about the good times but also about reinforcing a brand for the future and putting some security around it.
“I don’t think anyone is really doing that [at the moment]. I see that as an issue in the industry.”
