FUNDINVESTINGMONEY.COM

for investment - www.fundinvestingmoney.com

Menu


personality may make the brand so different from what fans expect that it breaks the emotional ties between fan and brand.    Evolve


the brand within the parameters of the brand promise. At first blush, Madonnas brand promise seems to focus primarily     on sex; however, further examination reveals it is really about challenging conventional thinking, setting trends, and zigging when everyone expects her to zag. With this definition, it is clear that her evolution from material girl to sex diva to modern mom to spiritual girl fits what her fans expect from her. Simi- larly, Porsche promises high-performance driving and high design, but its perceived promise among fans is to help make the person driving it more attractive to members of the oppo- site sex.      Alter offerings to accommodate different customer segments. Dur- ing its Forty Licks tour, the Rolling Stones offered three differ- ent concert experiences to fans willing and able to pay varying amounts of cash. Ticket prices ranged from $75 to $350 depend- ing on the degree of intimacy fans wanted to experience with the band. Performing to sold-out arenas added to the iconic position- ing of the band, while performing to exclusive crowds in small venues added to the aura of rarity and specialness. What people bought for upwards of $350 were special memories and an expe- rience few will ever have.     Finding the balance between maintaining the old and introducing the new is one of the most difficult tightwires to walk for bands or brands-a balancing act in which it is easy to fall by launching radi- cal new products or changing the brand too rapidly. When successful bands and brands dont innovate, however, they run the risk of grad- ually fading away like Elsie the cow, former top bovine in the once- strong portfolio of Borden brands. Radical innovations that force consumers to throw out the old in the name of the new often reach results similar to those of Pets.com, Webvan, or any other dot-bomb of the 1990s. Unlike the short-term success of these and other one- hit wonders of the e-world, eBay, in contrast, simply took a business format consumers had experienced for decades-the auctions-and migrated it to the Internet, with its enormous geographic reach compared to local auctions and flea markets. It has never strayed far from its core product, but has added technology and protection fea- tures to the point that eBay now dominates the auction business as the most profitable firm on the Internet today.     Create Culturally Relevant Brands   Brands are often rejected if people feel they are not culturally rele- vant. If a product doesnt match their lifestyles, values, belief systems, or basic needs, consumers forego a new offering and stick with what they know. Innovations, whether they be new technologies or new styles, are more likely to receive mass acceptance when they are intro- duced through an accepted channel. Perhaps the most poignant example of this is the migration of rhythm