WHAT CHANGES FIRST: THE BRAND OR THE MARKET?
EXCERPTED FROM: PERSPECTIVES ON BRANDING
Both! The market is constantly changing. So this question is a bit “chicken or egg.” A brand must stay true to its vision no matter what, while constantly evolving and taking risks to put new things on the market. Sometimes the brand will change the market; sometimes the market will change the brand.
On the one hand, people don’t stand still, and as a result, the culture and, by extension, the market don’t either. Consumers are constantly listening to each other and to buzz generated online and elsewhere more than ever before. And they’re fickle. They will change on a dime. On the other hand, brands often look inside to see if they can anticipate and launch a disruptive new product or enhancement before consumers even know they want it. The goal is to stand out, to be unique, to capture consumers’ attention, and drive their purchase behavior.
Of course, even as they seek to launch the next disruptive product, brands use research to track consumer trends and measure the impact of those trends on their position or products. As we’ve discussed, putting a great, new, innovative product on the market is not necessarily a shot in the dark, but rather involves both the art and the science of marketing.
This represents yet another opportunity to reinforce how important it is to actively manage your brand. Your customer expects new things from you; at the same time, you must constantly be focused on attracting new customers. While managing this can be tricky, you don’t want the brand to become irrelevant or stale.
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WHAT CHANGES FIRST: THE BRAND OR THE MARKET?Short URL: http://www.getperspectives.com/?p=912
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