Wednesday, November 9, 2016

[Branding] Karhoo closes shop

In a sudden turn of events, British taxi-hailing start-up Karhoo, announced that it was shutting down citing financial woes. This comes just two weeks after its team met taxi operator ComfortDelGro to discuss the launch of its service here.
 
While the closure took some by surprise, we are CW Fong & Associates (CWFA) were not. This is because money and branding will not guarantee a business' success. Branding must ultimately be based on a strong USP that fulfills a market meet. In the case of Karhoo, their product/ service was not sufficiently unique and thus they could not set themselves apart from the crowd. This then resulted in them not having a compelling proposition for prospective clients to choose them over their competitors.
 
branding lessons singapore karhoo
 
This is why, as part of our proprietary framework, CWFA first develops our client's USP. We believe that it is only with a strong and clear USP in mind, that any social media marketing campaigns succeed.

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