11/06/2004 11:57:00 PM 
http://www.wired.com/wired/archive/12.11/brands.html
The trend driven by the abundance of consumer power that's wiping out brand value overnight and making brands increasingly vulnerable to intense price competition. Classic marketing thinking suggests brands are the one form of protection companies had from intense competition. At Influx, we still believe that to be the case, but the rules have changed.
With fashion and consumer power becoming huge forces in the success of brands, marketers need to think differently. Successful marketing has become like a series of sprints in a marathon. Historically, branding shielded companies for a period of time; branding built a wall that resisted competitors. Mind-share and distribution was tightly controlled and it was difficult for others to penetrate.
It's often been suggested that strong branding stopped innovation. Companies with strong brands simply didn't have the incentive to innovate. They could stand behind their brands and let their marketing do all the heavy-lifting and that's been a major problem.
Now in the sprint/ marathon, companies are brands are being forced to come out from behind the wall of marketing and prove themselves, hiding is no longer acceptable. Consumers are demanding the most relevant product when and where they want it. They want choice, they want surprise and when appropriate, they want to connect and directly interact with brands. Brands that can do this will win consumers loyalty and have strength.
Brands haven't really lost power, it's just the way they need to respond has changed. Products and services need to be consistently great, innovation needs to be fast and furious and they need to create marketing that engages and involves the consumer.
The idea that brands can rely on name awareness and distribution alone is over. Marketers should be aware and accept that brand leadership is often not sustainable for long periods, and like fashion brands, their time might come and go. Consumers do have the power to knock brands off their pedestals, so they need to be prepared for sharper more intense boom and bust cycles. Also, there is opportunity, as consumers are more likely to embrace an exciting hot product that captures their imagination.
Look to Kellogg's or McDonald's as examples of a great brands turning themselves around, written off by analysts and the industry, but they took time to take look at themselves and re-tooled for success.
http://www.signonsandiego.com/uniontrib/20040407/news_1b7kellogg.html
http://www.pbs.org/wsw/tvprogram/burgerletter.html
Brands that can learn,react, change fast, innovate and engage consumers in their marketing, are likely to not only to survive, but thrive in the new marketing age.
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