Brands Must Be Flexible. Adapt or Disappear.
On the other side of the equation are brands that fail to reinvent themselves and are swallowed whole by their competition. People change with the times and brands must as well if they hope to maintain their audience. Sears was once the largest retailer in America, but it took less than a decade for their competitor’s growth to suffocate the once burgeoning company. In terms of marketing, Sears had begun to falter by the late 90s. Their television ads were uninspiring with no real incentive for viewers to choose the brand or align with their brand identity. Over the past decade, with the retail sphere struggling amidst the pervasiveness of online shopping, Sears attempted to hold onto their original brand until its final dying breath instead of reinventing themselves and taking a risk while they still had the opportunity. Once again it comes down to truly knowing your audience and demographics, as well as your defined strategy and vision.
The ability to identify your market has never been greater. Finding out who is purchasing your product, then constructing your ad campaigns with that in mind is a simple way to progress forward. Once you have reached a certain level of success, it is important to learn from these brands examples and never get too comfortable; competition will always be waiting eagerly to take your audience for their own.