(as seen in The Marketer.co.uk)
It’s tough for consumers to accept a brand has completely changed – that black has become white.
More often, there is a kernel of a consistent truth at the heart of the most successful recoveries.
The lesson here, is to know what’s at the very core of your brand and reinvent it. However, this involves being prepared to dig deep. Examples of this sort of approach are when Burberry realised it was not about checks but classic British design; when Lucozade in the ’80s concluded it was not about recovery but energy; and retailers such as Waterstones and Foyles determining they are about reading, not books – allowing them to launch all sorts of initiatives such as book clubs that online retailers can’t compete with.
Read the full article here