The Name Game – Brand Equity and Chrysler

Corolla, Civic, Altima, E-class, 3 Series; Everyone knows these names and the vehicles they describe. Why? Simply put, it is brand equity. Start small, and build on it. Keep building on it. Improve each generation, build loyalty to a nameplate and a company.

I don’t know how many generations of Corolla there are, or 3 Series, or Golf. It doesn’t matter. What matters is that these Companies have made continuous improvement to the same nameplate for several generations. The result is brand loyalty, and repeat business, for the nameplate and the company.

Why is this so hard for the domestic manufacturers to understand? By changing your nameplate with every new incarnation of vehicle you suggest that the last one wasn’t worth preserving – ergo, your company makes throwaway vehicles, not built to last, not here for the long haul, not worth being loyal to. This creates a perception of low quality, quick turnover, and a lack of respect for the people purchasing your product. Are these not the same qualities ascribed to the domestic three?

To be fair, the truck divisions of all three have got it, finally we have generational truck lines. Still not so in the car lines, though, with a few exceptions. What does Caliber mean to me, or Compass? Give me a third gen Neon, or a Valiant, or a Fury. I would like to buy something with some history and longevity.

Chrysler and Dodge are finally looking to their heritage to build equity, but so far they are trading on past glory. They need to commit to a long term development of specific vehicles and to stick with it. To show some serious commitment to their own products and history and drop the faddish name changing. It hurts your reputation, and the public perception of your product.

Take the 300 for example. Why ‘C’, when it should be ‘N’. That would make a believer out of me. Why cheapen the 300 nameplate with base 2.7 V6! That’s what killed it the first time around. ‘Banker’s Hot Rod’, was the term, fast, beautiful and expensive. You’ve arrived baby! Revive another name for a lesser car and keep the letter cars exclusive. That is brand equity. The Imperial was Chrysler’s technology leader, and competed with the best in the world, do it again, right this time.

Don’t drop the PT Cruiser, make it better, same with the Pacifica, you were first out with the crossover, brag about it, then go whup the competition’s butt with the next one. Bring back Plymouth, whatever the cost, it’s your bread and butter. Now is your chance to fix perhaps the biggest mistake DaimlerChrysler made and reintroduce Chrysler’s economy brand.

I know people who are on their third Corolla, fourth Civic, and other than the minivans, I can’t think of a single third generation Chrysler product. (trucks excluded) How can you build owner loyalty with a constantly changing nomenclature? It’s a simple answer; pick a name and a product and develop it over time. Stop throwing out the baby with the bathwater!