Donald Trump is a billionaire and world recognized brand. He is an entrepreneur, television personality and author of many books. I have even recognized him as a world class brand in the first issue of Personal Branding Magazine, which debuted on August 1st. He has invested billions of dollars in his brand, so that wherever you journey, you will see one of his many real-estate properties, such as The Trump Plaza. Trump is so successful that he has even established Trump University, with many of his colleagues, in order to teach others how to become successful through various business strategies. Trump not only has his own clothing line, travel agency, perfume, casino resorts, golf clubs, model management, radio program, art collection, but he also owns skating rinks in NYC.
Has Trump gone too far with Trump Steaks?
Recently Trump has announced a new line of signature steaks. This collection includes the classic, resort, connoisseur and country club steaks. You can find cuts of steak such as filet mignon, porterhouse, New York strip and even steak burgers. This Trump brand extension places the quality, professionalism and class into a popular food item. For example, he uses USDA Prime, which is said to be the top of the grading scale for traits that determine beef’s tenderness, juiciness and flavor. The steaks are even packaged with style, with a signature logo box. It seems that people are purchasing these items, even at a cost of $200 a piece! They are sold specifically through The Sharper Image, which tend to be located in most malls around the country.
First, I think that the Trump name has been successful no matter where its placed, to a certain extent, so why should steak be any different? Second, I think that The Sharper Image, as their channel partner, relay’s some of the same attributes as both the steak and Trump in that they are all of high quality and distinct. If I were to play devils advocate, I would say that people are getting turned off by Trump branding overload, as well as not wanting to pay a premium price on steaks they can purchase elsewhere at the same quality level. What do you think?