Rebranding Must Signal Real Change
In a recent report from Cheddar, Jane Hwang, global vice president of M&M’s, shared the rationale behind the reworking of the classic M&Ms characters to become more inclusive.
NEW THINKING
In a recent report from Cheddar, Jane Hwang, global vice president of M&M’s, shared the rationale behind the reworking of the classic M&Ms characters to become more inclusive.
So how do you explain why brand strategy is important? Through the lens that speaks to all business leaders: VALUE.
Many executives worry that they are not doing enough to fend off low-cost rivals by targeting down-market customers. For instance, reaching young consumers as they begin forming buying habits and settling down offers a critical opportunity to gain long-term loyalty. At the same time, however, these executives are equally worried that down-market strategies could tarnish their brands. Are affordable offerings a door to new customers or an unjustifiable risk?
If your customer can live without you, eventually they will. One statistic offers all of the evidence needed to support this somber fact: eighty-nine percent of the companies that were in the Fortune 500 sixty years ago are now gone.
Marketers should think about the following when considering brand extensions.