The Bigger Picture
P+P: What is the industry’s biggest struggle, and can it be fixed?
GM: In my humble opinion, our industry has a branding challenge. We are not viewed by many—in both the industry and government—as a valuable resource the way other advertising and branding solutions (e.g., television, Internet, newspaper, magazine and billboard advertising) are viewed. In order to fix it, we may want to look at another product that had a branding problem: the Patagonian toothfish. The Patagonian toothfish is a species of codfish. It was available in abundant supply, but not much in demand. In 1977, a fish distributor renamed the fish “Chilean Sea Bass.” Sales took off. Today the Chilean Sea Bass is one of the most expensive and over-fished species in the world. The Patagonian toothfish had a name problem. Perhaps, the “promotional product”/“advertising specialty” industry has a name problem. I think we need to consider rebranding our industry.