Now, presented for your consideration, here are five brand winners and losers for 2024:
Brand Winners:
1. Donald Trump
This brand is a no-brainer for most branding experts, whether one likes Trump or not.
Even the antagonistic Time Magazine declared Donald Trump their "Person of the Year."
After overcoming his numerous lawsuits to impeachments through his incessant criticism from the mainstream media, this personality brand did the unthinkable — winning the popular vote, and the Electoral College needed to secure the 2024 presidential election.
2. Tesla/Elon Musk
The bromance between Trump and Musk cannot be understated. This positive personal development between Trump and Musk is underscored by his appointment with Ramaswamy to the newly formed Department of Government Efficiency (DOGE), whose charter is to reduce government waste.
The Musk magic is apparent even though Telsa car sales have been sluggish in 2024.
In a recent column in The New York Times, Dec. 27, 2024, "Tesla Investors Are Still Bullish. Can Elon Musk Deliver?" it was noted: "Tesla's sales of electric cars have stalled. But Wall Street investors don't seem to be worried. The company's share price has risen 90 percent since early November as investors have taken an optimistic view of the company's progress in autonomous driving and bet that its chief executive, Elon Musk. . . "
3. Amazon
Amazon's robust logistic network, continuous investment in technology AI (Artificial Intelligence), and Prime Services' ability to keep up with customer services make Amazon the 2024 brand winner. Their diverse product offerings help attract expanding audiences — prime membership growth with free shipping and exclusive deals, all of which enhance customer loyalty.
Their technological innovation, which includes advancements in AI, logistics, and cloud computing through AWS (Amazon Web Services) is another reason for their status as a brand winner. Other factors include their sustainability initiatives, and global expansion, which has led to a strong brand recognition, and their "Customer-Centric Approach," contributing to Amazon's status as a brand winner in 2024.
4. Netflix
Netflix's strong subscriber base and powerful entertainment brand make them a 2024 brand winner. Their movement toward original content expansion and heavy investments in original programming, producing high-quality series, films, and documentaries which attract global audiences.
5. Beyond Meat
Beyond Meat is a leader in plant-based food interested in health and sustainability — their partnerships with major food chains and retailers to expand market reach.
Additionally, Beyond Meat has consistently introduced new and improved items that mimic the taste. This and their strategic partnerships with McDonald's and Taco Bell have allowed them to introduce their products to a broader audience, increasing visibility.
Brand Losers:
1. Kamala Harris
This is a brand who couldn't get it right. Whether it was her "word salad" speech pattern, inappropriate laugh-cackle, or insincere personality, this brand couldn't do it, as evidenced by her minimal and controlled interview with the media.
Political scientists will study this campaign as a case that one should never duplicate.
2. Boeing
One can't help but be reminded of this brand's losing moniker and think "astronauts still in space." The Boeing Starliner gave astronauts another mission extension. Their multiple changes in return dates have only reinforced the perception that this brand is in trouble. Add to this the infamous 737-800 aircraft, whose problems never seem to go away.
The grounding of the 737-800 aircraft following two fatal crashes severely damaged Boeing's reputation." (Krishna, Dec. 23, 2024).
3. Huawei
Allegations of data privacy reputational challenges in Western markets, and geopolitical tensions between the U.S. and China have made Huawei a 2024 brand loser.
Trade restrictions by the U.S. government are declining market share especially in Europe and North America.
Competitors like Samsung and Apple, along with a poor brand reputation, e.g. including security concerns, have led to consumer hesitation in purchasing Huawei products.
4. The Main Stream Media
Marketing 101 is a course that the mainstream media failed to take seriously since 2016.
With their know-it-all bias and inability to process anything but what their "groupthink" colleagues profess, simply calling balls and strikes for this group was not an option.
The result was a loss in audience, readership, and market share due to the failure to adhere to its brand attributes — veritas or truth.
5. Peloton Product Safety Issues Chat Box
Post-pandemic demand decline was only one reason for the decline of this once-branding darling of the last five years, Peloton had experienced a surge in demand during the COVID-19 pandemic.
Additionally, financial struggles, which included declining revenues and increased losses, have led to cost-cutting measures, including layoffs and price reductions, which negatively affected its brand image.
Product recalls and safety concerns resulted in product recalls, including a significant recall of its Tread+treadmill. Along with this variable, increased competition from NordicTrack, Echelon and others have introduced affordable alternatives.
Dr. John Tantillo is a Marketing Professor at Lander College For Men at Touro University and the author of the popular book, "People Buy Brands Not Companies." Read More of his Reports - Here.
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