Developing and Sustaining the Brand Essay Example | Topics and Well Written Essays - 750 words

Developing and Sustaining the Brand - Essay ExampleThe micro factors include all internal forces equivalent customer satisfaction, the companys financial stability, and the way a convergence is positioned in the market by the organization. Beyond these, on that point are external forces at work including the political environment, general economic conditions, legal or restrictive changes, as well as the impact that increasing consumer environmental awareness is making on terminate sources and eco-friendly corporate practice. The author then moves into a section on the development and survival of brands, noting that the standard product life cycle, i.e., introduction, growth, maturity, and decline, are all applicable to a brand as well. The key to survival is adaptation, rejuvenation, innovation, or re-positioning. Adaptation, the author notes, is a long-term process and the article cites McDonalds as a prime example of a brand engaging in adaptation recognizing cultural demands or health concerns, and tailoring product offerings by adapting to the new market trends. Rejuvenation is a dual-prong process, whereby innovation and repositioning are combined to give a brand a new start. Innovation, the article notes, need not be radical it can be incremental with minor improvements accumulating over time to result in major differences in the products or serve offered.