The ability of a brand to weather different conditions and competition is brought out in this article with examples of resilient brands-brands that bounced back after some adverse developments set them back. The author looks at critical aspects which enable a brand to bounce back after setbacks.
What's in a name? asked Shakespeare once. But it no longer seems relevant in branding. Consumerism, competition, changing demographics and above all consumer extravagance in spending have led to brand revolution. The markets are under a virtual siege of branded products across different categories. Brand is becoming a distinct and differentiable variable for consumer positioning and a way of life and expression for consumers.
Companies invest large amounts of money in their brand development projects, as brand is the one that speaks for the company and not the PRO of the company. Any defect in the product performance or any allegation, can seriously affect the company's share prices and image. A company can always depend on its brand name, even when the company goes through a rough patch. It takes as much effort and time for developing a new brand and take on an already established brand.
Brands like LifeBuoy, Thums Up, Amitabh Bachchan, Harley Davidson, Cadbury and many such brands can be called as `Resilient Brands'. The word resilient means `the ability to feel better quickly after some unpleasant things'. A powerful brand exhibits the characteristic of resilience and remains impervious with any kind of competition shown by the competitors. The resilience of some of the brands can better be understood from the following illustrations.
In the year 1999, Bachchan was named super star of the millennium, ahead of celebrities like Alec Guinness and Marlon Brando. In the year 2000, a wax statue was erected in his honor at Madame Tussad's. |
