Evolve Business Advisory

Evolve Business Advisory

The Evolution Of A Brand

David Ogilvy defined ‘Brand’ as the intangible sum of a product’s attributes. Over time, brands have become more subjective. It is largely dependent on how consumers perceive the brand. In this dynamic stage, brands can and may even need to evolve to be able to relate with a larger target audience.

Need for Change

There are some businesses where brands can remain the same for decades, however, in today’s global market, there is a definite need to evolve with changing technology, international exposure, varied consumer base and increasing competition. While the foundational attributes of the brand that relate to the organization needs to communicate stability, the peripheral attributes can evolve with new products, services, markets etc.

Shifting consumer needs also calls for a change in the brand. This kind of alteration should build upon the existing positive brand image and work towards a better brand experience.

Change

Having a built-in plan for possible future brand changes is effective in implementing changes without disruption of existing marketing, sales & branding activities. Having a plan in place also ensures that these changes can be aligned with a strategic action such as new product launch, specific advertising campaigns, seasonal changes etc.

Changing for the sake of changing does not contribute positively to the brand image, however, designing strategic programs for brand evolution within the company’s marketing plan saves time, budget & increases effectiveness of relevant marketing campaigns. These programs require a definitive knowledge of what aspects of the brand needs to evolve and what should remain constant.

Communicating Change

When a change has been affected for the right reasons, the next step is to communicate this to customers in a relatable manner. This communication differs based on the need that predicated the change. If it was an introduction, then the consumer demands that brought about this new product or service can be highlighted. This way, it reiterates the brand’s commitment to its consumers. While improvements also show the brand is listening to its customers, the communication must focus on the positive outcomes of the change as opposed to its original position that needed to be changed.

It’s imperative to prepare the market for the upcoming changes in a manner that shows the brand’s innovative adaptability skills while maintaining its long-term vision.

Brands

Xerox, Pepsi, CoverGirl, Fedex are just some of the many notable brands that have evolved over time. The evolution combines product innovation, new & improved logos, taglines, customized products, services & marketing based on target market. Ensuring alignment between the uniqueness of your brand and corresponding marketing activities will help your brand to reach its full potential.

At Evolve Business Advisory, we walk together with our clients through the entire process of brand and business development, further monitoring the success and continuously implementing improvements as required. For more on how we can help your brand evolve, book your FREE consultation today.

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