Developing &
Promoting Family
Brand Identity
James Cretan
Rodney Walton
Facilitated by: Justin Craig
Family Business Australia Conference 2007
1
Introductions
www.bond.edu.au/acfb
2
Agenda
Introductions



Research: Latest Trends & Developments
Insights: Brand and the Family Business
Life Cycle Case Study: Generational Life
Phases of the Family Business & Brand
Opportunities and Options
Distill “Take Homes”
3
What Are We Talking About?
BRAND
The use of a name, term, symbol, or
design (or a combination of these) to
identify a product or service
4
What Are We Talking About?
BRAND IDENTITY
Important intangible asset…arguably a primary basis for
competitive advantage (Aaker 1991).
Represents a set of promises that, for the buyer, implies
trust, consistency, and a defined set of expectations (Davis
2000).
Refers to the set of associations that link customers with
the brand. Such brand associations—attributes, benefits,
and attitudes linked to the brand—have the potential to
influence customer decision making (Keller 1993).
5
What Are We REALLY Talking About?
FAMILY BRAND IDENTITY
Resource-based View of the Firm: VRIN
 A valuable, rare, imperfectly imitable, non-substitutable
resource that could vest competitive advantage (Carney 2005;
Habbershon and Williams 1999; Habbershon, Williams, and

McMillan, 2003)

A contributing resource and capability that provides family
businesses a potential advantage by highlighting their distinctive
‘familiness’ (Habbershon & Williams, 2003).
6
Our Research
Action Research



O’Reilly Family (JSBED, 2002; Elgar, 2006)
Smith Family (FBR, 2005)
Dennis Family (FBR, 2002; FBCJ, 2004)
Observations





S. C. Johnson (FBN, 2002)
Australian Family Businesses
Oregon Family Businesses
A. B. Jenson & Son
Hendersons & Daughter
7
Research Questions
that are Relevant
How does the promotion of family-based
brand identity influence competitive
orientation (customer service versus
product differentiation) and firm
performance in family businesses?
8
Findings and Implications
Family businesses benefit by ensuring
that they communicate truly unique and
relevant family-brand values to their
customers.
In other words…


Introducing family business-centric aspects
to brand identity is important
Continuous and intentional communication
to customers is paramount to effecting
performance
9
Family Brand Identity is a

Valuable
Rare
Imperfectly Imitable
Non-substitutable Resource

That highlights distinctive familiness




…and that our research empirically
establishes contributes positively to firm
financial performance
10
James Cretan: INSIGHTS
11
Brand and the Family Business
Communicating Shared Values
 Trust
 Honesty
 Passion
 Good old fashioned service
 Longevity
 Social conscience
 Stability
 A commitment to not compromise but
strengthen family values
12
Brand and the Family Business
Where does the ‘Family Business
Brand’ (FBB) currently sit?
What can the FBB do for a family
business?
Some thoughts about the best way to
use it
13
Brand and the Family Business
What is the status of the generic ‘Family Business Brand’?
Strengths







Trust
Honesty
Passion
Good old fashioned
service
Longevity
Social conscience
Stability
Weaknesses





Old fashioned
Staid
Boring
Conservative
Irrelevant
14
Brand and the Family Business
What can the FBB do for a family business?


Branding is now a science
 Ideally synergistic with the brand of your business
 Alignment with market values
 = The value proposition
The political environment
 Social benefits
 Regional benefits
 Employment
15
Brand and the Family Business
What is the best way to use the FBB?

Understand what it is and where it sits
 Ask yourself and your employees
 Ask your market

Is there alignment?
 Distill the common elements

Does it drive value?
 Pricing premium
 Simply a reason to choose your business
ahead of others
16
Rodney Walton
17
Options
Include the family name
Exclude the family name
Include the family
Intentionally include family in
marketing
Actively engage family members in
community
May be possible to divide “options”
into actions and activities
18
Potential Opportunity
Macro approach/benefits

Legislators will take notice of family business
‘movement’ if they see their constituent
companies branding themselves ‘family
business’
Global partners may be attracted to
common values of Australian firms that
label themselves family businesses
19
“Take Homes”
1. Your ‘familiness’ is a VRIN resource
2. Your Family Brand Identity is valuesdriven
3. Continuous and intentional
communication to your customers is
vital if your intention is that your family
business is…
20
‘Built to Last’
Thank You
…and let’s continue discussion
over lunch
21
www.bond.edu.au/acfb
22