CORPORATE BRANDING & DESIGN 2011

CORPORATE BRANDING & DESIGN 2011

University of Applied Sciences of Utrecht

Jos Ramn Lpez Carnero

beating

in the
heart of

NYC

Contents
1. Corporate Design Objectives! ! ! ! ! ! 5

2. Visual Competition Analysis! !

3. Design Effectiveness! !

15

4. Advisory Report! !

19

Appendix! !

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1
Corporate Design Objectives

passion listed on NASDAQ

Looking for a technology brand

In 2011 NASDAQ celebrates its 40th anniversary. The key message for this celebration is: NASDAQ OMX leads the charge in creating thriving global economies. Imagine what the next 40 years will bring. This claim gives us the idea of what NASDAQ is trying to show to its potential target through the visual identity and branding.

NASDAQ wants to be more than a nancial brand

Fourty years ago, NASDAQ was the inventor of the electronic trade platform for the modern share-trade markets. This revolutionary technology was created in 1971 and since then, NASDAQ is world known like a revolutionary stock-market, leading the development of the equities-trade platforms. So the rst word we can get from that is Technology. But this technology is not only outsourced from its way of trading. The most of the business listed here are the leader technological companies enterprises all around the world. Internet leaders like Google and Amazon; computers software and hardware creators like Apple or its main rival Microsoft as well as Intel and a lot of state of the art technology developers companies are listed in this market. We can say that the NASDAQ is the Silicon Valley of the nancial markets. In fact, the most of the business headquartered in the well known Californian valley are listed here. Now technology is not only a word behind a brand; it is the real soul of NASDAQ. But, what can we nd behind the spirit of both the NASDAQ and the Silicon Valley business? We nd all of them in the Visionaries campaign made by McKinney & Silver in 2004. In that work, some CEOs of the main companies listed on NASDAQ told personal stories about their own inspiration, focusing every spot in one word: Vision, Entrepeneurship, Passion, Future... achieving a Humanizing effect. Most of its competitors are unable to show these facts. The most important among them is its crosstown rival New York Stock Exchange (NYSE, owned by NYSE EURONEXT), who is specialized in industrial companies as well as banks and other nancial corporations. We can say the same about the second world competitor: The London Stock Exchange (LSE). So, what can we nd out in its rivals? Finance, Banks, Industrial, and maybe Crisis... In order to hold coherence between the brand and the main words that NASDAQ wants to be looked by its target, the main aim of the NASDAQ brand is to create and hold a perception in relation with:

Vision

Technology

Innovation Leadership

Passion Effort

Entrepeneurship Future

Creativity

Inspiration

This is the difference between NASDAQ and the other stock markets in the world. NASDAQ is the stock market of the technology. Because its main rivals are unable to ll the gap in this difference (technology), these are the words in which NASDAQ focus its branding effort. Here is where NASDAQ has no rival.

vision listed on NASDAQ

Corporate logo for the holding group:

Corporate logo for the main brand:

Description of the graphic identity design

Almost all of the NASDAQ communications are made in digital media like pdf les and its main website, not being almost necessary printed matterials, apart from business cards and some annual reports in order to inform its investors once a year. The rst thing that catches your attention when you have a look at the NASDAQ logo is the easily recognizable colour. The turquoise colour is not usualy used in the nancial companies. Instead of that the most of the companies work with blue or red colours. On the one hand, we can take this like a sign of young and/or an alternative way to reach its target, but on the other hand, this colour could be took as sign of money (turquoise is a mix of blue and green colours, the most used for the money bills). If that relations runs, it is not bad in order to reach possible investor, but it is in order to hold a more ethic image faced to the general public with no links with the investment market (and sometimes prejudiced against that). In contrast, the font used in the logo (similar to the used by Microsoft) evokes the technology in relation with the kind of companies listed there and the NASDAQ itself. Do not forget that NASDAQ is the stock exhange that invented the electronic trade. In fact, it is easy to be mistaken about what is the NASDAQ. Is it a nancial company or is a technology or internet related company like Microsoft, Google, Oracle or Dell?

Finally, the most important and spectacular way to reach its target is its market site in Times Square. This building is a mix of a studio and a large ad-screen that tells to the world what is NASDAQ and what they do, as well as the relation with the technology brands listed on that market site.

Aspects to improve
For every global brand like NASDAQ, a very important objective is not to lose the coherence between the corporate brand in all the countries in which NASDAQ operates. The most important of them are Scandinavian regional and the North America areas, which consist of countries with different cultures that NASDAQ must respect. But not only it should maintain a consistent global brand. This coherence must be related to the companies listed there in order to hold its same characteristics. The perfect examples and models for NASDAQ are far from being in its same market. NASDAQ must be focused in the graphic identities of companies like Apple, Google, Oracle or Starbucks instead Northern Rock, Bank of America or (going worse) Lehman Brothers. Finally, regarding to the general public, NASDAQ should maintain a graphic identity away from relations with the nowadays nancial world, which is really frowned upon in the wake of the nancial crisis that began in 2007. It is a priority to avoid any kind of subconscious relation with these companies and this world, at least from the view of that target.

2
Competitors Analysis

effort listed on NASDAQ

Main facts of the NASDAQ brand

On a rst sight, maybe it draws the attention the strange sound of the word NASDAQ. Unlike its main global rivals, NASDAQ does not use the wide extended form of a city name followed by the words Stock Exchange. At the beginning, NASDAQ was an acronym standing for National Association of Securities Dealers Automated Quotation. Today this word is took as a conventionalism and a brand itself.

NASDAQ tries to avoid unwanted mind links with the concept of seriousness

Following this appreciation, the second fact that seems an obvious difference with other nancial brands is the usage of the turquoise/cyan colour, near to the light blue. Usually, nancial brands use colours like red or dark blue for its corporate graphic identity, those colours with a strong association with safety and seriousness. In fact, this is what we look for when we decide to entrust our money to someone. Except NASDAQ, the unique nancial brand that uses this colour is one of the best well known English bank, the Barclays bank:

As an interesting data, the Barclays Capital headquarter are located in the former main ofces of Lehman Brothers, only two hundred meters far from the NASDAQ market site. Both buildings use a spectacular show of videowalls in its facades.

Graphic identity of its main competitors

Corporate logo for the NYSE Euronext holding group, shown in its operations in mainland Europe (Paris, Amsterdam, Brussels and Lisbon Stock Exchanges):

Main corporate logo used in the New York Stock Exchange market site:

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technology listed on NASDAQ

Corporate logo for the London Stock Exchange (LSE) holding group, shown in London and Milan Stock Exchanges:

Main corporate logo for the LSE as shown at the London Stock Exchange market site:

NYSE background
NYSE is the share-trade market leader. The crosstown NASDAQs rival is the world largest Stock Exchange by market capitalization and by daily trade, the most important rates in that market. As result of the merger of the New York, Lisbon, Brussels, Amsterdam and Paris Stock Exchanges, the holding group NYSE Euronext was formed in 2007.

Unlike its graphic identity for the USA market, NYSE uses a second colour on the European market: a light blue very similar to the used by NASDAQ; as well as it can be see getting a rst look NYSE also uses also a very simple font, similar to arial. This colours has a stronger link with the concept of seriousness. On the other hand, and unlike NASDAQ, the NYSE uses a combination of colours that comes from the dark blue. LSE uses two main colours in both logos: Grey for the fonts and blue for the coat of arms, just adding a blue line (same blue colour that the coat of arms) and the word Group to the holding corporate logo. At the same way that NYSE, this combination tries to show a condent and securely way to make business with its clients, but the seriousness concept reappears on a stronger way with the use of grey colour. Unlike NYSE, in the LSE case these links seem to be wanted by the use of the coat of arms. The coat of arms used by LSE was given by the King of the United Kingdom, George V, in 1923. At the bottom of that we can read the motto of the company, Dictum meum pactum, a Latin phrase that means My word is my bond. Perhaps, the most important difference between NASDAQ and its global rivals are the use of its main market site building to reach a wide range of people in order to connect the brand with its desired mind links. This brand activity comes from the thought at the NASDAQ board that the common people are part of the stakeholders group, so they must try to reach them.

LSE Background
Located in the city of London, the LSE is the fourth largest Stock Exchange by market capitalization and the largest one in Europe, operating the London and Milan Stock Exchanges.

Similarities and differences with its competitors

The three of them use monolithic identity structure, with an easily recognizable logo in each case. That seems to be because the stock exchanges are taken as a sign of globalization, far away from the local operations and easy to be reached for any investor from anywhere in the world. It is very easy for any investor to purchase shares from a local company that do the same from a company listed on NASDAQ. In fact, could it be easier do it from those companies than in the local ones.

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future listed on NASDAQ

The famous and historic NYSE building in Wall Street has not desired links between the NYSE brand itself and any objective. In fact, although the building is one of the most famous landmarks of New York, it can be seen both as a sign of the USA economy powerful (in the same way that the bronze bull statue not many meters far from there) and a more negative perception link with the currently nancial crisis or the investors avarice. The large USA ag hanged on the building facade can be seen as a sign of americanism of the economy, not being recommended for an institution in which many non-US companies are listed. In the LSE case, it is not even easy to nd any kind of link (desired or not). The head ofces and market site in Paternoster Square (near to the St Pauls Cathedral in the City of London) were designed only with the objective of provide the LSE a more modern facilities than the former ones (an old and grey skyscraper). Much unlike its rival, NASDAQ has two different buildings. The main ofces (and quite less famous) are located in Wall

Street, while the second and most famous one is the market site, located in the popular Times Square, heart of New York City. This building is used to show the open and close of the market every day through a TV studio located on the down oor and broadcasted by the main nancial and business channels around the world. On the same way that the most of the agship store of many retailers chain (for instance the Virgin or the M&Ms agship stores), and with no other practical function, the building is the way through NASDAQ tries to reach a larger and wider target than its competitors: the common people with no relations with the nancial markets, but with a personal view of every popular company. Do not forget that is a very important matter due to the nowadays nancial crisis. The use of many screens as well as the large one in the facade makes a stronger link between the company and the cosmopolitan and technology concepts (instead of the nance one).

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3
Design Effectiveness

entrepeneurship listed on NASDAQ

As every company around the world, NASDAQ must to focus on target groups in order to reach its potential clients. This focus will make their branding and advertising communications more specic, having a higher rate of return and feedbacks that if it did not as well as the advantage of saving costs. Any company can afford not to focus on a potential or currently group of customers, and NASDAQ is not an exception.

NASDAQ must reach two main target groups

Target groups
There are several target groups for the NASDAQ branding actions. Those can be distinguished by his relatively importance: First group (the most important) consist of: - Companies able to be or currently listed in the market. - Currently investors or able to purchase shares from companies listed on the market. Second group consist of: - General public, wanted them to change his perception of the company. - Current investors as well as possible future ones of the NASDAQ own company. - Advertisers which want to put his ads in the NASDAQ websites. - Applicants for job offers in NASDAQ.

Targets demographics:
According to the nasdaq.com website demographics and usage statistics page, the main demographics facts of his reached targets are: Gender, Age, Education: - 57% Male. - 13% under 35; 50% among 35-55; 37% over 55. - 54% hold a College Grad/Post Grad. - 56% of USA. Living standards: - 51% have incomes exceeding 75,000 $. - 31% have incomes of over 100,000 $. - 37% have a portfolio (worth of his shares) of over 100,000 $. - 31% have sold stocks online in the last 6 months. - 17% have taken a business trip in the last 30 days. - 51% have travelled by air in the last 6 months. Jobs and positions: - 7% are C-Level Exec/Owner. - 5% are EVP/SVP/VP. - 6% are Sr. Management. - 6% are Self-Employed. - 43% are a business purchase/decision makers w/in company. - 6% are a member of IS/IT/MIS Industry. - 6% are a member of the Finance/Banking Industry.

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creativity listed on NASDAQ

Location (this fact is not linked with the citizenship, only referring to the country of origin of the visit): - 56% from USA. - 5.6% from Canada. - 3.2% from United Kingdom. - 2.9% from Italy. - 2.3% from Belgium. - 2.3% from Israel. - 1.8% from India. - 1.4% from Netherlands. - 1.4% from China. - 1.4% from Switzerland.

The combination of three pictures that show the market sites brings to the people word like progress, wealth, culture, credit rating, cosmopolitan cities, lms, subways and tube stations,

What about the logos?

Having showed the main corporate logos of NYSE, LSE and NASDAQ to the same target groups, what we found is: - NASDAQ OMX logo relations: aerodynamic, speed, sport. - NYSE Euronext logo relations: Disorder, monochrome. - LSE Group logo relations: Power, fate, responsability, guilty, generational, classicism, elegant, trusted, mature, roots.

Does NASDAQ reach its branding objectives?

It depends on the target group, if they have (or not) relations with the investment world as well as their kind of background, specially in reference to their education. It is not the same opinion of those who have a business management education than those who do not. On a rst look to the famous NASDAQ market site, the most popular words among those who have business management knowledgement are: bustling, direct, a world dominated by the brands, endeavour and volatile. Among those who have a lack on business knowledge we can nd: Consumerism, noise, commercial beahaviour, movement, burden. On the other hand, the most common words in reference to the LSE market site (an aerial picture of the Paternoster Square took from the top of St Pauls Cathedral) are: peace, tranquility, harmony, lineal and open spaces. Finally, in reference to the NYSE market site, the most heard words among those who have business knowledge (but not investors) are: money, dollars, troublesome, target and sharks, all of them unwanted links. Among those who have other kind of knowledge, the most common adjectives are: cosmopolitan, patriotic, great urban contrast, instability, panic, suspicion, unity image and expressions like the Gates of Babylon.

Whats the results?

The NASDAQ graphic corporate identity is identied with words that means speed, movement and cosmopolitan and in relation with these concepts. Unlike its main rivals, nobody links this brand with the nancial crisis (do not forget NASDAQ is the second world largest stock exchange in the world). This unwanted link is found on the LSE and NYSE mind relations. NYSE is specially linked with the nancial crisis, while LSE is linked with words like classicism. Contrary to that, while the people see the NYSE Stock Exchange or its corporate logo, there is a predomination of unwanted relations. On the other hand, nobody set a relation between NASDAQ and technology. Instead of that we found a undesired relation with consumerism and with the excess of the rst pointed words: excess of movement, burden... Surprisingly, the combination of the three pictures brings to the people good feelings in relation with the cities where the buidings are located, but nobody sets a direct relation between NYSE, NASDAQ and New York City. It seems more difcult to set this relation in the LSE case because the main ofces and market site of the Stock Exchange are not as famous as the buildings of its main rivals.

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4
Advisory Report

innovation listed on NASDAQ

Although it seems that the NASDAQ brand holds a good perception among the general public, this is not a reason to stop caring for it. Instead of that, the brand must be maintained and further developed in order to lead the brand image rank among the Stock Exchanges worldwide. To achieve that NASDAQ must keep in mind the importance of the branding effort as well as where are its target groups and how are they reached by its communications:

First mission for the NASDAQ must be to make close links with its hometown and Scandinavian markets, getting stronger links to the perceptions associated with these locations

First group, consisting in other companies (specic executive ofcers among them) and investors, who are reached by the business channels broadcasts (TV ads included) and by the main website. Second group, where the larger group is the one consisting in the general public and who are reached in the same way that the rst one but adding social media and the market site communication actions. These are some corrective branding actions that NASDAQ could adopt:

1 - Strong engagement with its hometown: Beating at the heart of NYC

It is strange that, on a rst chance, nobody sets a link between NYSE, NASDAQ and the city in which they are located: New York. This is specially serious problem in the NYSE, where the mind-links are made with USA instead with the city although the own name of the city is within the trademark of the company. They are not making any link with that. New York is possible one of the main fetish cities in the world. All that comes from there is surrounded by a halo of cosmopolitan glamour. The many lms and series played there contribute to hold and expand these good feelings. There are even companies dedicated to packing the citys trash in small methacrylate boxes, selling and delivering them worldwide. Obviusly, that only can happen in a city like New York. Who does not know the most famous logo about the city and about the feelings inspired from that?

The city of New York spends a large amount of money to enhance and support tourism and international events. This image is reinforced by the immense number of series and lms shot there. NASDAQ must catch and hold these feelings linked to the city in which whey are headquartered and add them to the brand itself. So, the rst objective is to connect the NASDAQ brand to the New York City brand letting the USA link to its crosstown rival NYSE. Why do not use a motto faced to the general public like Beating at the heart of New York?

2 - Strong relations with the scandinavian market

Unlike its main rivals, who operate in the most of the European countries, NASDAQ also operates in a market with extraordinary possibilities for its branding efforts: the nordic countries in the Scandinavian market. Do not use this resource would it be a waste.

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opportunity listed on NASDAQ

The Scandinavian countries are considered around the world as an example of how to work. NASDAQ should show to the world where the larger companies of these countries are listed. This mix of condence, responsibility and hard work will develope the image of the brand faced to the NASDAQs target groups (both of them), linking the Scandinavian values with the companys brand itself.

3 - Being ethically active starting from inside

It seems that the NASDAQ brand has successfully avoided any kind of link with the nowadays nancial crisis as well as with other sort of undesired associations. Actually, it is a success; specially keeping in mind the Bernard Madoff case and its close ties with NASDAQ (Bernard Madoff was CEO of the NASDAQ for several years). That does not mean that this undesired link would could not appear in the future. It that occur, the relations with rst and second target groups could be affected. To the rst group in order to lose condence into the NASDAQ trade operations; to the second one in order of a lost of ethic values. Both effects would be fatal for the survival of the brand and the whole company. To prevent this scenario, NASDAQ must be ethically active, starting from its own staff as well as with little companies with the aim of growing in the future. Do not forget that it is different the perception of the large multinational companies and the smaller ones among the general public. While the rst ones are seen more times as economic sharks leaded by greedy boards and investors, the second one are seen like a symbol of continued work, passion and enthusiasm. These companies are like a sort of allegory of the long and hard roads that should be traveled to reach the dreams that someone proposes himself. That could be done through campuses, business education and free counseling services to start-ups companies with technological or innovative proles able to be listed on NASDAQ on the future. So, what NASDAQ wins with these kind of actions is not only future industrial customers, but also a stronger link with the general perceptions associated to the start-ups companies, letting to NYSE the links to the large industrial conglomerates. A brand may now be associated with the business practices of an organization (W.H.M. Zijm, 2005).

It is acknowledged that the reputation of an organization has positive inuence on attracting personnel (Argenti and Druckenmiller, 2003: Fombrun and Van Riel, 2004). NASDAQ should create a bond with their currently and future personnel using values and image (the branding process). It must be seen as the Google or Apple of the nancial markets, and this can only be reached through personal recognition (including wages recognizition: what the people worth is what the people receive) and allowing them to use almost unlimited creativity in order to achieve the companys objectives as well as their personal ones.

5 - Developing strong links to Sillicon Valley

In the same way that the previous advice, the perceptions linked to the start-ups companies are linked with the Silicon Valley, adding to them the technological and the innovative concepts. NASDAQ should increase the presence of its brand in the San Francisco Bay Area (where the Silicon Valley is geographically located), building a very clear relation between these sort of companies and the brand itself. Why not setting up a large business incubator on this area with its name? Where will be quoted a company created in this way and in this area if it is not in NASDAQ? Where will be listed the values linked with these sort of companies? On a nal achievement, it will convey the perception of continued growth, linked with the Silicon Valleys start-ups, in order to take a position into the investors mind like the Stock Exchange where the companies with the greater growths are listed. And precisely, what is what a long-term investor looks for? Growth.

6 - Building a differenciated CVI

It is like the name of the book Differenciate or die: Survival in Our Era of Killer Competition (Jack Trout, 2000), where the main message is that the only way to survive into an open market world is to be different from the rivals. The commons die, the uncommons survive. The Theory of the Evolution. Law of life. In order to survive in a market with ongoing mergers and acquisitions, NASDAQ should hold a differentiated personality; and that is what they must show through its Corporate Visual Identity (CVI),

4 - Developing a good behaviour to its employees

It is well know that companies like Google or Facebook are the paradise for the most of the students who have just nished his engineers degrees. This fact allows them to have a highly qualied staff base over its rivals.

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achievement listed on NASDAQ

Its colours, its logos, its advertising, but also the way of communicate with its stakeholders must be unique within a market dominated by the same colours, the same sort of logos and, therefore, a common way of communication. What NASDAQ has to say with its CVI is that none of these companies use the same cyan colour or its style of dynamic logos because they manage its business in a different way that its rivals. All the visual elements of the company should convey the same message and the diverse elements should strengthem each other. A careful CVI to convey trust and condence, but also technology, dynamism and future is absolutely essential in the brand management of NASDAQ.

take over bid in February 2008 to the new one, with very similar colours and font to the NASDAQ main brand.

Until February 2008:

7 - Holding an endorsed/monolithic brand identity structure

According to the Corporate identity structure of Olin (1989) there are three kinds of Identity Structures: monolithic, endorsed and branded. Unlike companies dedicated to sell consumer products or services, the industrial companies are focused in industrial clients who must be reached with a global and almost homogeneous branding effort. The reason is that the cultural and social values are not as important when selling consumer products to the general public as in the industrial market; and, of course, the share trade is an industrial (as well as nancial) market. This industrial/nancial branding must be recognizable worldwide in order to hold a condence feeling between its clients, but avoiding to lose the condence links built by the previous companies; in the NASDAQ case the OMX company in the Scandinavian market. The best choice in this case is within the monolithic and the endorsed identity structure. This endorsed branding can be seen in the OMX logo transformation from the former one before the NASDAQs

Since February 2008:

8 - Do not forget the nancial information

Information is worthy than only money. Information is all in the nancial markets. What investor looks for is information, a lot of information. They look for that through internet services (brokers, nancial informacion services, nancial newspaper or the stock exchanges websites itself). NASDAQ should not forget the importance of a continuous ux of nancial information through its main website. The most information that NASDAQ gives, the more transparent and reliable it is seen its brand and the more clients are reached by its websites.

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Appendix

pride listed on NASDAQ

NASDAQ corporate logos:

Main corporate logo:

Main corporate logo for the holding group:

Main corporate logo with pictogram (almost not used):

OMX Logo (NASDAQ in Scandinavian market):

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inspiration listed on NASDAQ

Main rivals logos:

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Report made by Jos Ramn Lpez for the University of Applied Sciences of Utrecht under Creative Commons License with some rights (CC BY 3.0) reserved. Full-free downloadable in www.vasyt.com Utrecht, The Netherlands 2011