Success By Association
Updated: Dec 4, 2019
What do race cars and Swiss watches have in common? Nothing, until someone decided to associate the two.
Formula One and Rolex have a long history of partnership. It takes a lot of money to have a successful F1 team (and it takes almost as much money to have an unsuccessful F1 team). Building a well-made watch is expensive as well, but not nearly as expensive as building a car that can go 200mph.
The Circuit of the Americas in Austin yesterday was full of reminders that successful branding involves understanding one's audience and finding the best ways to associate products or services with their interests and desires.
Someone decided that racing and Rolex fit together. Formula One caters to an audience that is wealthy and worldly. Rolex too. Heineken 0.0 is drafting on the international F1 audience to expand sales in countries where consuming alcohol is prohibited or frowned upon.
Brand association is a conscious decision to succeed with others.