Brands need spas too

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Brand life cycle is undergoing a drastic change, since brands are faced with interesting paradoxes. Products are lasting longer and the time in which they are being outmoded is growing shorter. Thus …

Brand life cycle is undergoing a drastic change, since brands are faced with interesting paradoxes. Products are lasting longer and the time in which they are being outmoded is growing shorter. Thus brands are wanting to capitalize on the initial bang which leads to faster fatigue & obsoleteness. To negate this, it is important that we revitalize brands through revolutionary changes, not evolutionary changes. Is your brand ready for a Spa treatment?

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  • 1. Brandsneed spas too Exploringbrand revitalizationacross categories
  • 2. “Buildings age and become dilapidated. Machines wear out. People die.But what live on are the brands.” Sir Hector Laing, CEO, United Biscuits, UK
  • 3. Why are brand ageing faster today?Brands are like human beings in a lot of ways. In manycustomer researches, a common question is “If thisbrand were a person, who would it be?”Customers are always able to personify the brand withsuch detail that you could clearly visualize him/her
  • 4. Why are brand ageing faster today?Apart from having a personality link, brands behavelike human beings even when it comes to theirlifecycles.Much like people, brands are born, theygrow, and they mature, go through a decline phaseand eventually die.Re-birth of brands is the key to success today.
  • 5. Human lifecycle is getting accelerated?Used to be, we merely wished to become younger or postpone old age.
  • 6. Guess what? Brands are going through the same seismic shifts.
  • 7. Brands are mere dominos,deeply affected by these cultural shifts.
  • 8. More often than not,brands react in a knee-jerk fashion.With promotions and price undercuts.And too much attention to short-term metrics.
  • 9. Shortening the product lifecycle…• The PLC curve is steeper than ever before indicating that an increasingly large proportion of sales occur soon after the introduction of the product• A narrow window of opportunity exists to earn profits on a new product before competition catches up and margins begin to shrink• Companies cannot afford to miss out on the initial bang, and stock-out becomes an expensive proposition• Marketers are faced with an interesting paradox – Products are lasting longer; the time in which they are being outmoded is growing shorter Life cycle in its purest form, does not exist
  • 10. The Changing Product Life Cycle Traditional S-Curve The “New” S-Curve
  • 11. The question is:How can brands makethe product life cycle theory irrelevant?What strategies are availablefor us to revitalize brands?
  • 12. #1. Reinvent to become a contemporary classic
  • 13. #2. Take on multiple avatars to cater to shorter attention spansOne brand, many lives Develop future versions to restart lifecycleDesign for a shorter life (Apple)
  • 14. #3. Be different things to different people. Or to the same person.Keeping creating “new” newsSometimes useful to make your own product obsolete before competition
  • 15. Brand X#4. The Bowling Alley strategy: Pick up different market segments one at a time Different brand lifecycles for different target segments Build critical mass and focus resources
  • 16. #5. Reinvent to make the competition obsolete
  • 17. #6. Engage inconversation andcreation Buzz marketing Co-creation Social marketing Experimentational budget
  • 18. The key lesson in all this is that brandvitalization calls for revolutionarychanges, not evolutionary changes.
  • 19. A brand vitalization scorecard • Can you say yes to at least 3 of the following 5 questions? – It has always been moderate or premium-priced (never discounted). – It has been under-advertised / under-promoted. – It has a strong, wide distribution network. – It has a long-held heritage. – It has a distinct point of differentiation. If you did say yes to at least 3 of the above, then your brand is ready for vitalization.