IT is quite true that no superbrand started off as a superbrand. All superbrands actually evolved. It is actually a lifelong process that involves consistency, integrity, focus and persistence. Even when a brand is sealed a superbrand today, there has to be continual growth which takes into consideration many changes in the environment. Being a superbrand is a process not a destination.
Brand evolution is a process that involves change in a certain direction, development, expansion; growth, progress or progression.
Brand evolution is the process that a brand goes through in order to embrace or adjust to change in its environment and ultimately create and add value to that same environment. It is this process that superbrands have mastered.
There are many factors that push and pull brands into evolution and it is in this process that superbrands are born, strengthened and refined. Many would agree that technology has become one of the most forceful agents of change. A brand that wants to first survive then become a superbrand, in this information age, has to welcome and embrace technological changes. It is apparent that most people now spend the better part of their time engrossed in technology.
Technology now ranges from small gadgets such as i-pods to large units such as laptops. Wherever one is, there is connection to the entire world. It is only where people are gathered and connected that wealth can be created .Therefore, it is only those brands that are able to fit into these fast-paced technological changes that will be part of the future.
Another factor that significantly contributes to brand evolution is the change in consumer tastes and preferences. Gone are the days when customers used just to buy what was available.
The 21st century customer is now more educated and sophisticated. A brand that wants to survive and ultimately become a Superbrand has to adjust to these changes. In fact it is quite good to follow the customers and satisfy their needs.
A brand should also be able to lead customers into new horizons in terms of customer satisfaction and delight. This is what separates brands from superbrands. Superbrands have a way of showing direction into the future. They actually define the future.
Brand revolution is also affected to a large extend by competition.
Healthy competition, not corporate malice, is fritful. Sometimes corporates become so engrossed in attacks and counter-attacks (advertising being a favourite battling ring for this phenomenon). When a brand wants to survive and enhance itself, it has to adjust to competition.
However, in the same process focus on the customer should not be lost. The competition should be focused on delighting the customers, not tearing the competition apart. A superbrand has this way of retaining and adding more customers to its family in the face of competition.
Superbrands do not seek to destroy other brands that aspire to be like them. In fact, they take pride in being a source of inspiration to other brands. The more they inspire others, the more they see a need to change and the more they see that they need to inspire even more. This delightful cycle goes on and on and the more it does, the more customers have confidence, trust and loyalty towards the superbrand.
Brand evolution is also affected by changes that occur in society. Culture is evolutionary. The globe has become a village.
The mixing and mingling of people from different cultures, backgrounds and countries, is creating a certain culture. These cultures contribute significantly to the buying patterns of people. Brands that want to be in the records of tomorrow have to adjust to these changes. Superbrands know how to get into the lives of people.
The economy plays a pivotal role in designing brand evolution. Given that the economy is ever changing, there is need for assurance that viability of business is attained, profitability of operations is achieved and a positive cash flow is at most times maintained.
Inflation, increase in interest rates and price increases are some of the undesirable evils in the world of business, but these evils will always be there.It is up to the brand to pace up with these changes and always have a powerful plan for the future in the event that some of these economic eventualities take their toll.
Superbrands have a powerful way of creating wealth for themselves and others.
Superbrands play a pivotal role in stabilising and enhancing the economy.
I eagerly await the day all the brands will become Superbrands.