The beginning of the presidential electoral campaign has not only evoked curiosity among the general public, but those related to the brand Trump as well. And to much dismay, the beginning of presidential race has witnessed 26 per cent decline in the favorability of brand ‘Trump’, as per a survey by CNBC.
Many other surveys have also suggested that the brand has lost some of its sheen during the campaign and the reports of slashed rates at trump’s hotel at Washington DC and decline in bookings are a testimony to it. Moreover, negative sentiments towards Trump’s Real Estate and other assets have grown among the wealthy class of the society that has been the driving force behind the brand. While Trump believes in "there's no such thing as bad publicity" the experts are of opinion that the glossy and plush Trump brand has become tarnished, perhaps irrevocably.
Ever since Donald Trump began his incendiary run for the US presidency, the Trump brand, glossy and gold and superior to anything else, as he would have it, has become tarnished, perhaps irrevocably. Trump is a believer in "there's no such thing as bad publicity" and has used his presidential campaign as one big marketing opportunity for his brand. Trump has built his brand on being a successful businessman and television identity which has been ‘the brand’ in licensing fraternity, but the election campaign has put that business model under intense scrutiny.
Travel Weekly, a trade publication, reports there has been a 61 per cent slump in travel agents recommending Trump hotel properties to their clients. Donald Trump's volatile presidential campaign may be hurting the real estate mogul's business and brand, said one Trump biographer D'Antonio. He has been the author of The Truth About Trump and Never Enough: Donald Trump and the Pursuit of Success.
In words of D'Antonio, people may still vote for Trump, but this is really doing long-term damage to his businesses. It is said that one can't visit New York without coming face to face with the Trump brand somewhere. His business model has a majority to owe to brand licensing agreements under his name to real estate and other projects rather than investing in or developing those ventures.
Even in India, Lodha Group is developing an ambitious Real estate project Trump Towers in Mumbai. The business mogul notably self-described the value of his last name at $3 billion. Even if Trump had exercised a more careful control of image both on and off the campaign trail, it is not clear if his business would have been able to save face, given the numerous sexual assault accusations that have come to light.
Regardless of if Trump will rule the White House or not, it’s clear that the damage to his established properties will have impact that will last long past election season. And his company is clearly aware of the brand hit and is already adjusting and/or dropping the Trump name for its new real estate project. The developer of the Trump International Hotel has been asked by the mayor of Vancouver to change the hotel's name. Even Trump’s newest hotel project is named ‘Scion’ with ‘Trump’ nowhere in sight. Scion, which has nine hotels in the pipeline, is a lifestyle hotel brand, targeting a younger market than the Trump hotels, so it is reasonable that it has its own brand name and image.