Exercise 1: Banned Words
Before coming up with the three words for our brand, we thought about the words we needed to ban. After much discussion, our group came into a consensus to ban words that are often used to describe Tiffany & Co. The four words we chose were: 1. Love; 2. Jewelry; 3. Luxury; 4. Classic.
Firstly, “love” is a word that all of us in the team often relate to when we talk about Tiffany, and when consumers think about Tiffany, they always seen it as a brand for love, such as engagements rings for wedding, gifts from boyfriends to girlfriends etc. Secondly, we banned “jewelry” as it is the category that Tiffany & Co. is in. Next will be “luxury”, as many of our consumers had viewed Tiffany as a luxury brand mainly due to their expensive pricing, as well as their association with luxury and prestige. Lastly, our group decided to ban the word “classic”, as Tiffany offers many classic pieces, such as the “Lock & key” series. These words are often too commonly associated with Tiffany.
After banning the four words, we were expected to come up with a three-word phrase that describes Tiffany. We chose a few phrases such as “Growing Old Together”, “Creating Timeless Memories”, “Life’s Everlasting Moments”, and “Yes, I do.” However, after some feedback from our peers, we made a final decision to go with “Life’s Everlasting Moments” as we believe that Tiffany is not only just about true love and for couples but for every lovely moment worth celebrating in life.
Exercise 2: What We Hate
In this exercise, we came together to discuss what we “hate” as Tiffany & Co.
Exercise 3: Divide the World
In this exercise, we were suppose to come up with a strong phrase that captures what we really dislike from Exercise 3, and what should be done. market segments for our brand that contrasted. After much deliberation, we came up with, “We hate counterfeit goods (Anything Fake). So we believe that stricter regulations should be imposed and consumers should be educated because bonds between people are created out of sincerity and honesty.”
Afterwards, we were supposed to come up with two consumer segments that contrasted. We took a very long time discussing this as it is difficult to deliberately want to push away a group of potential consumers. However, it was important to focus on one particular segment which we could potentially turn into our strong brand loyalists. We eventually decided on “People who believe in expressing their love freely”, versus, “People who do not believe in expressing their love freely/ingenuine about giving”. We believe that happiness is only real when it is shared amongst those we love.
Exercise 4: What is Our Cause
This was a challenging exercise as we had to think of a higher-order cause for Tiffany & Co. After much discussion, we decided that we want to not just be a brand that encourages romantic love and the expression of it through our products, but what we want is to be a brand that grows with our consumers, always being there for them at every special moment in their life. We want to show the world that love should be expressed even if its simplest forms, and should be expressed whenever possible. Therefore, we came up with a few potential causes such as “Every Step of the Way”, “We’ll be there for you at every special moments”, “From start to end”, “Forever and Always”, and “We’ll always be there to create that special bond”. Eventually, we settled on “Creating Sincere Bonds”, a short and sweet phrase.
In conclusion, the four exercises of the Brand Frenzy really enabled our team to think about the brand’s eventual goal and higher-order purpose. We realised that it was extremely crucial to think about the four steps in order to come up with a new brand purpose whenever the brand is planning to experience some change and growth.