Is Your Brand Losing It’s Identity and Value?
What are some of the most powerful brands that we use on a daily basis? The majority of you will think of names like Starbucks, Apple, McDonald’s and Pepsi. However, there are so many other brands that we use every day that we don’t think about the brand name as much, or might not even know who makes the product. So what makes some brands more popular than others, and more importantly… succeed over time?
With the internet changing the way people live their lives and revolutionizing the business world as a whole, as a business if you don’t adapt, you will die. It’s as easy as that. Just think about some of the traditional names and retail stores that had so much branding power for many decades and no longer exist. (Circuit City, Music Stores, Book Stores etc…)
Speaking of book stores, it’s only a matter of time before there are none left… or at least just a few. Barnes and Noble is still just holding on to survive… and that can thank Starbucks and the Nook for keeping them around this long, but how long can it last? Why buy a Nook when the Amazon Kindle and Apple iPad have so much more to offer? Sure… lots of people like to have the ability to hold a physical book in their hand or drink a coffee while in the book store, but it’s getting to the point where it’s not enough to run a viable business in the expensive world of retail locations. Can Barnes and Noble stand the test of time and adapt enough before it’s too late?
What are the top brands in the world right now?
According to Interbrand’s most recent report, Coca-Cola is the top brand in the world, while Apple is closely behind and they are expected to take the number one spot some time next year!
While Coca-Cola has been dominating the world market for years now, there very well might come a day when Coca-Cola falls off the face of the earth. No one stays at the top forever, and according to a recent report from Daily Finance, here are the top ten brands who are quickly losing market share in today’s business world.
10 Brands Losing the Most Value
(Brand Name / Percentage Brand Value Decline)
10 – Dell (9%)
9 – Thomson Reuters (11%)
8 – Honda (11%)
7 – MTV (12%)
6 – Citi (13%)
5 – Yahoo (13%)
4 – Moet & Chandon (13%)
3 – Nokia (16%)
2 – Goldman Sachs (16%)
1 – Black Berry (39%)
How many of these brands seemed untouchable at one point or another?
What Makes One Brand Better Than Others?
Branding is more than just the product your create. It comes down to a mixture of everything. How dorky was Apple just a couple decades ago and now it’s the coolest product around. The customers of a product and brand can make or break you. Creating a valuable brand and company is more than just the product, it’s about revolutionizing your market, meeting the needs of your customers and creating a killer fan base.
Brands are successful when they are able to redefine a market, explained Interbrand CEO Josh Feldmeth. Apple, for example, took the mobile phone market and turned it into an ecosystem in which consumers buy games, listen to music and browse the Internet on a single device. “Strong brands anticipate needs and transform desires,” Feldmeth said.
When looking at your business and brand, it’s always important to not let your success go to your head. Learn from the great companies who have fallen and came back to become very powerful brands, but also don’t forget to learn from the mistake of others who have fallen and never had the chance to come back.
What companies do you see today that might not be around a year or two from now?
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