Giant Brands Survival Guide

0
651

Gone are the days where brands could withstand the test of time alone, where big brands were the most potent in their fields and nothing could compete with them. Some say these are the days of the Davids (David and Goliath story, read the bible). In the story of David and Goliath we see a young shepherd who was considered a nobody by his family, community and Goliath the enemy but David was the only brave one to face the giant and bring him down and he killed him without even breaking a sweat.

The same story applies now to many of the digital and online companies that are taking the markets by storm. We suddenly seeing brands such as Instagram playing a pivotal role in bringing down Kodak the giant photo company. We seeing more and more brands becoming irrelevant because things are now easy to access online and most of those things are now FREE. Keeping what I’ve just said in mind can you list 5 companies that you see in malls on a daily which you believe in ten years will no longer be relevant?

These days giant brands such as Nike are collaborating with giant technology brand Apple to keep up with the technology trends while staying relevant to their industry of sports. Its no longer enough for Nike to sell me comfortable running sneakers, i also need them to tell me if running is helping my health condition and their medical wrist bands are doing well in the market so clearly Nike will stay afloat for a long time as they are not afraid to try new things to keep up with the market.

Let me be clear though, this brand collaboration movement did not start 5 minutes ago, it started decades ago when we saw brands like Pepsi and Beyonce collaborate towards strengthening brand Pepsi. In 2006 we saw Nokia work closely with Aston Martin to design a cellphone which looked like an Aston Martin and was quite pricey at the time, so the trailblazers have been at it for a while, but now it seems to be a survival move.

Brands can no longer stick to what they know and leave it there, innovation plays a vital role in keeping up the Jones in business.

The business society is now seeing that co-innovating is the only way to survive. Let me take it closer to home, we seeing many event organizing companies collaborating, when organizing a wedding you don’t have to find the tent rental guys, then the decor guys, the caterers and the cleaners, all that comes from one company which has collated a number of other small companies therefore making them competitive in the hospitality industry.

Industries that can relax a bit for now are those who service the basic needs of humans beings such as food, health and clothes, but they shouldn’t be too comfortable. It wouldn’t be a surprise if some day soon, all you need is to install an app in your wardrobe and a 3d printer prints any outfit you desire, wishful thinking?

Never say never when technology seems to see no boundaries. Innovation is taking centre stage of brand growth and no one is safe, is your business innovative?

Let us know about it, email sayitloud@nunnovation.com who knows we might just publish your story here on Nunnovation.com