November 16th, 2007
Categories: Brand Management, Brand Strategy Development, Consumer Trends & Forecasting, Growth & Diversification Strategy, Marketing Plan Development
It’s nothing new that marketers react to the latest consumer trends. The trouble as described in the Adage.com article Marketers, Seize the Opportunity to Help Heal Society’s Ills goes over the reason to take more consideration into how you react to a trend.
This continues along the lines of the reason companies must be Promise Centric and not Product Centric. With the continuing recall of toys, companies should take a look at what they are trying to accomplish. Getting the most toys out to market? Or are they trying to create entertaining, educational, informative and interactive items that will expand the mind and development of children? That is why having your Creative Promise guides you and the entire company to achieve a goal that has no physical ending point. There should always be something next.
Along with creating the promise company’s must also look at how they plan to, as the article states, create sustainability. If you are out mining for gold and you destroy the entire mountain and then run out of gold, what are you going to do next? The gold rush of 1849 can be compared to the way marketers and company’s jump on the latest trend. Millions of dollars in gold is great, until it’s all gone. What did a little company known as Levi Strauss do during the gold rush? They created work-wear that the prospectors needed. In doing so they created a new line of apparel that, from where I’m sitting in a pair of jeans, seems to have worked out pretty well.
So is it short term, explosive success you want? Or is it sustained growth with continual advancements in innovation by creating a promise that consumers will get behind and lift your company out of the crowd?
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