Products die but brands can live forever
Laurie Young wonders why so many marketers and business leaders seem to base their investment strategies on a set of beliefs that are in complete contradiction to the facts
The Obsession with newness seems to have blinded many in the marketing community to the infinitely more valuable payoff of long-standing brands – many that are familiar today have startlingly ancient lineages.
A few years ago I was returning from a marketing conference in America. I had heard speaker after speaker fill their presentations with an unchallenged consensus: that markets were changing very fast, that they were becoming more global and customers were becoming more demanding. As a result, competition was increasing and it was difficult to create enduring value. The ‘product you launch on a Monday is a commodity by Wednesday’.