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The Test of Time
You've heard us talk before about how "brands are like living, breathing things". No, we're not nuts, we just like to make the point that brands must constantly evolve in order to be successful. Problem is, most brands don't change much even though the environment in which they compete is constantly moving and shifting.
Take a close look at your brand. Is your customer base contracting? Are there new competitors in the market? New, emerging trends, technologies? What about your company...do you have new skills, capabilities?
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Fast Forward
Reinventing the brand requires care and patience. The last thing you want to do is change a brand that doesn't need fixing. Remember New Coke? Many brands have evolved smartly over time.
Take Converse and the basketball shoe Chuck Taylor helped invent some 80 years ago. "Chucks" were a true breakthrough in 1923, but as the sport evolved, the flimsy shoe became hopelessly inadequate for the power game of today. The style game is different, so add color, change the brand image, consumer target and distribution strategy... and now you're in 3-point range!
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