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Brand Evolution Is Hard—But It Doesn’t Have to Be Unnecessarily Risky
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For many global companies, brand evolution is a natural part of running the business. As consumer attitudes and lifestyles change, so must brands if they want to continue to deliver value to their customers.
But in an effort to remain relevant, companies too often hinge their brand identities on current events and passing trends rather than thoughtfully forging a path forward. In this pursuit, many companies forget to first examine their place in the hearts and minds of customers. That’s a mistake because the stakes are high if you don’t get brand evolution right. This is a lesson Tropicana learned the hard way when, in 2009, it decided to drastically change the design of its packaging—a move that resulted in swift consumer backlash and a 20% sales drop.
Packaging is just one small part of your brand identity, but Tropicana’s misstep is a cautionary tale on the potentially risky consequences of making drastic changes to your brand without engaging with your customers first. In changing markets, it’s important to be nimble, but it’s even more crucial to step lightly and purposefully to maintain a healthy brand and avoid alienating existing customers.
We get it—evolving a well-recognized global brand is hard. Staying true to your brand while keeping up with the evolving habits and preferences of consumers is a tricky balance. But why do some companies pull off this transformation successfully while others confuse their customers and lose sales in the process? Examining three brands that are currently in transition can help answer this question.
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Consumer & Retail RSS FeedGet via email
Brand Evolution Is Hard—But It Doesn’t Have to Be Unnecessarily Risky
For many global companies, brand evolution is a natural part of running the business. As consumer attitudes and lifestyles change, so must brands if they want to continue to deliver value to their customers.But in an effort to remain relevant, … Continue reading
Blue Apron’s Challenges Are Bigger Than Amazon
Market Strategies releases new data as the battle over meal kits intensifies Blue Apron (APRN) is having a really tough 2017. Just as the meal-kit delivery company went public at the end of June, Amazon (AMZN) announced its acquisition of Whole … Continue reading
Personalization Is Not a Technology Problem—It’s an Insight Challenge
Retailers that can’t deliver a personalized experience are at serious risk of becoming irrelevant soon. According to a study from Accenture, 75% of shoppers are more likely to do business with companies that recognize them by name, offer relevant recommendations … Continue reading
Energy RSS FeedGet via email
How to Manage Utility Net Promoter Score Performance
“And when you speak of me, speak well.” Bull Durham As utilities seek to evolve their customer management performance goals beyond traditional customer satisfaction metrics, utilities are evaluating updated measures and management approaches that better reflect success in the transforming … Continue reading
The Unique Value of Utility Marketplaces
It is not a secret that energy utilities need to focus on strengthening customer relationships through brand and product efforts as brands like Tesla, Apple and Google are increasingly building consumer mindshare in the energy space. The good news is that … Continue reading
Five Right Ways—and One Very Wrong Way—to Improve Value Perceptions among Utility Customers
Customers nationwide feel they are getting less value from their utility. Perceptions of paying reasonable rates for the services received from a utility are at the lowest levels we have seen since the end of 2015, as tracked in the … Continue reading
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No Longer Optional: Using Social Media to Reach Ready-to-act Investors
Insights Powered by Cogent Reports™ While social media use is the norm among affluent investors overall, recent findings reveal that ready-to-act (RTA) investors—those who plan to make a new investment in the next three months—are using social media … Continue reading
Digital Marketing to Advisors: Maximizing Effectiveness to Boost Brand Engagement
Insights Powered by Cogent Reports™ Advisor marketing is in a state of flux, evolving rapidly alongside all other types of mobile communication and efficiencies in terms of staying connected 24/7. At the same time, advisors are faced with increasing … Continue reading
Uncertain Optimism: Investors React to a “Too Good to Be True” Q4
Insights Powered by Cogent Reports™ Measuring Investor Sentiment During a Period of Unprecedented GrowthMy father-in-law had a saying, “If something is too good to be true, it is.” Yet the last quarter of 2017, which in many ways … Continue reading
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Five Ways to Improve Survey Response Rates Among Physicians
When doing healthcare research, physicians are one of the most coveted audiences. The challenges of capturing the attention of physicians are many: Increasing off-hour virtual care appointments Inundation of information and social media Gatekeepers One of the most common questions … Continue reading
Strengthening the Patient/Provider Relationship
In the rapidly evolving healthcare marketplace, the role of a primary care physician (PCP) is changing. Healthcare organizations are working to surround PCPs with broader care teams—nutritionists, mental health professionals, social workers and physical therapists—to provide PCPs time to focus … Continue reading
New Research: Pharmaceutical Companies are Overlooking a Key Audience
I never used to pay attention to anything in the healthcare industry. As someone young and healthy with no medical conditions, I rarely went to the doctor and ignored drug commercials. That all changed when I met my husband. After … Continue reading
Life Sciences RSS FeedGet via email
New Research: Pharmaceutical Companies are Overlooking a Key Audience
I never used to pay attention to anything in the healthcare industry. As someone young and healthy with no medical conditions, I rarely went to the doctor and ignored drug commercials. That all changed when I met my husband. After … Continue reading
Measuring Physician Relationships in a Changing Pharma Environment
The world is always changing, and the pharmaceutical industry is no exception. The Way Things WereCustomer experience research in pharma used to be heavily centered on sales representative performance because they were the “face” of the pharma company and the primary … Continue reading
Doctor’s Orders: Why Patient Engagement Matters
Ensuring that patients understand, accept and follow recommended treatment plans is the first step towards the best possible outcome—medically for the patient and financially for the healthcare delivery system. Similarly, physicians are in the best position to individualize this treatment … Continue reading
Technology RSS FeedGet via email
Xfinity Mobile’s Surprising Impact on the Cable Industry
Consumers now see Comcast as a major Quad Play provider, new data shows Editor’s Note: This is the final installment of a three-part blog series based on a new, independent research study called “The Xfinity Mobile Effect.” As Comcast marks the … Continue reading
The Quad Play Imperative
Success of Comcast’s Xfinity Mobile has potentially big repercussions in telecom, new research shows Editor’s Note: This is the second installment of a three-part blog series based on a new, independent research study called “The Xfinity Mobile Effect.” As Comcast marks … Continue reading
Xfinity’s X-Factor
New research from Market Strategies shows Xfinity Mobile’s impressive traction Editor’s Note: This is the first installment of the three-part blog series based on a new, independent research study called “The Xfinity Mobile Effect.” As Comcast marks the one-year anniversary of … Continue reading
Telecommunications RSS Feed Get via email
Xfinity Mobile’s Surprising Impact on the Cable Industry
Consumers now see Comcast as a major Quad Play provider, new data shows Editor’s Note: This is the final installment of a three-part blog series based on a new, independent research study called “The Xfinity Mobile Effect.” As Comcast marks the … Continue reading
The Quad Play Imperative
Success of Comcast’s Xfinity Mobile has potentially big repercussions in telecom, new research shows Editor’s Note: This is the second installment of a three-part blog series based on a new, independent research study called “The Xfinity Mobile Effect.” As Comcast marks … Continue reading
Xfinity’s X-Factor
New research from Market Strategies shows Xfinity Mobile’s impressive traction Editor’s Note: This is the first installment of the three-part blog series based on a new, independent research study called “The Xfinity Mobile Effect.” As Comcast marks the one-year anniversary of … Continue reading