Ben Wise on Branding

Watching the world through the lens of the brand

Everybody Hates Goldman Sachs…Almost

with one comment

I recently asked someone for an example of a bad brand. Without much hesitation, the answer was Goldman Sachs. Without a doubt, the Goldman brand has taken a beating in the past month or so in light of the investigation with the SEC.

But this individual claimed that the Goldman brand was in trouble far longer than that. As one of the top Wall Street banks, Goldman Sachs was vilified by the general public as everything that is wrong with corporate America. It was the greed of Goldman and others like them that brought the global financial system to its knees, creating the worst recession in decades.

At least this is how the general public views Goldman Sachs. But does that matter?

Focus on Your Target

Goldman Sachs, or any other investment bank, doesn’t sell anything to the general public. The public perception of Goldman isn’t an indication of the health of their brand. The real value of the Goldman brand is in the minds of CFOs at large companies around the world. And among this group of potential customers, Goldman is seen as the cream of the crop.

If someone isn’t your customer and doesn’t have much of an impact on your customers, then their perception of your brand isn’t terribly important. What matters is how your target market views your brand, and here Goldman continues to thrive (admittedly less so in recent weeks, but I think the point still stands).

What do you think? How healthy is the Goldman Sachs brand?


Written by benwisebranding

May 4, 2010 at 9:23 pm

One Response

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  1. SEC fine = 2 wks of profit at Goldman. Slap on the wrist?


    The Worden Report

    July 20, 2010 at 2:40 pm

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