PR & BRAND EQUITY
Brand equity and brand positioning are both incredibly important. However, an act that gives your brand power today can bring a cloud of negativity tomorrow. Ringing the Opening Bell at the NYSE has long been a coveted photo opportunity and a chance to flaunt a brand in front of hundreds of millions of viewers. But with market turmoil and an unpredictable financial landscape, the act of ringing the Opening Bell has become an undesirable risk. Who could have ever thought that a brand could be sullied by associating with the NYSE? But, indeed, a New York Times article seems to say so.
As I have stated earlier vis a vis sponsorships, every action has a reaction, and brands have to be cognizant of the world around them before agreeing to participate in any initiative. Public opinion can shift swiftly and dramatically. The wrong association can cause it to shift against your brand. We’ve had a number of clients ring the Opening Bell in the past, when the NYSE was seen as a bastion of power and prosperity, and I am sure those days will return soon.
Ronn Torossian
