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Opponents to the idea that a brand can live forever point out the many popular brands that have died out in the past. True, there have been a lot of brands that have gone the way of the dinosaur. But there are also many brands that are still around, and that have endured. They are the same companies and the same brands, but in most cases they are not the same products. They have stretched their brands and extended them, and that has allowed them to remain competitive within a changing marketplace. Brand stretching and brand extension are both very significant tools for almost any company when it comes to keeping a brand not just alive but thriving (Clifton & Maughan, 2000).
Brands that are allowed to grow and change according to what customers want and need will stick around, provided the products are good quality, reasonably-priced, and well-marketed. Brands that refuse to change because 'that's how we've always done it,' will generally fade away completely. Some of them manage to hang on, but they lose a great deal of their market share to newer companies that are giving customers what they want in today's...
Then these older companies lament the fact that customers do not seem interested in them anymore and they wonder what they can do. They could have avoided all of that.
In short, it is not the brand that decides whether its life will be finite or infinite. It is the way that the brand is presented and treated by the company that has created it. A company that wants to stay on the cutting edge and continue to have high market share will adapt its brand to meet the demands of consumers. A company that is not willing to address this issue may see the brand -- and the entire company -- die out. As unfortunate as it is, this is what has happened throughout time to some good brands and good companies that as simply not around anymore.
Bibliography
Becker, G. And K. Murphy. (1993) A Simple Theory of Advertising as a Good or Bad. Quarterly Journal of Economics, 15, 498-517.
Clifton, R. And E. Maughan. (eds) (2000) Twenty-Five Visions: The Future of Brands. London: Macmillan Business.
Kapferer, J.N. (1997) Strategic Brand Management. 2nd ed. London: Kogan Page.
Bibliography
Becker, G. And K. Murphy. (1993) A Simple Theory of Advertising as a Good or Bad. Quarterly Journal of Economics, 15, 498-517.
Clifton, R. And E. Maughan. (eds) (2000) Twenty-Five Visions: The Future of Brands. London: Macmillan Business.
Kapferer, J.N. (1997) Strategic Brand Management. 2nd ed. London: Kogan Page.
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