Brand Challenge: Renovate Before It’s Too Late
Published 2/13/2009
Author: Fred Geyer
Fred Geyer is a Partner with Prophet (www.prophet.com), a leading global consultancy specializing in helping Fortune 500 clients and their senior executives more effectively use brand, marketing, innovation, and design to drive profitable growth.
Summary
Stories of marketing heroes who transform poorly performing brands never fail to enthrall us. Dove’s transformation into an empowering brand. McDonald’s shift to healthier eating. Hewlett Packard’s rebound in the PC market. These are among some recent successes.
But they beg the question: Why do brand leaders wait until their brands are at the breaking point, and at risk of joining such brands as Radio Shack, 7Up, or the GAP, for which renovation may be too late?
Unheralded marketing heroes renovate their brands while they are strong and growing. They spot changing market dynamics and address them as opportunities before they have time to develop into threats. Their reward is faster, profitable growth without the negative headlines. Here are some of the best practices in brand renovation that have been identified in working with many businesses across a range of markets.
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