Branding Strategies for Success (Collection)

Truth 13. Corporate ego: Danger ahead

Confidence is great. Confidence supplies the fortitude to forge boldly ahead. Overconfidence and hubris, though, can result in many bad branding and marketing decisions.

Overconfidence and hubris can result in many bad branding and marketing decisions.

Wal-Mart has seen great success—providing basic goods to millions of Americans at affordable prices. Wal-Mart no doubt employs many bright and educated people charged with making sound decisions to move its business ahead. These bright and educated managers are not, however, immune to judgment clouded by overconfidence. With intent to expand its customer base, Wal-Mart began to move into more upscale fashionable clothing. This move failed—that is not ...