Every marketer is haunted by fear of missing out. As trends are identified and balloon, the decision to ignore or capitalise becomes more urgent. How do you decide what to pay attention to and what do you let pass you by?
If your brand is taken over by another company or your company takes over other brands, either as a stand-alone buy or as part of a broader merger and acquisition, what aspects of your current brand should stay as they are and what might you look to change?
Apple’s recent stand-off with the FBI refocuses the dilemma of what to do when someone has used your product in a way that was never intended. What should brands do to influence or change how their products are used?
One of the hardest judgment calls for brand managers is relevance. Brands must change to stay consistent yet they must also remain recognisable in order to preserve brand equity. So what should you change, and when?
There’s a lot of things that brands keep doing that can turn their value south. By way of a checklist, these are the things I see happening far too often.
The rules for developing and managing brands are laid out in a range of principles and frameworks developed by extraordinary marketing minds. Time and time again, we’re told brands follow these rules to achieve success. But every so often, you encounter a highly successful brand that seems to defy the theory. And there are lessons for all of us in that success as well.