We're all familiar with brands that were once popular but are no longer seen in the marketplace. Previously famous trademarks have been replaced and have disappeared from the scene. Sometimes, the decline of a brand happens slowly over the course of many years, but other times it is a result of a single catastrophic event or series of events.
The slow decline of a brand can happen for several reasons. The simple passage of time can cause consumers to perceive that a product is "old" and more importantly, meant for older people. In this respect, the initial popularity of a brand and long-term loyalty of initial consumers can work against it in the long run, since it may be considered to be "your father's brand" down the road. Other reasons for a slow decline include a failure to maintain quality standards, price fluctuations, increased competition and simple brand neglect.
Injury to or the death of a brand by catastrophe tends to be more spectacular and attract greater interest than a slow decline, as was amply demonstrated by Tiger Woods.
A loss of confidence in a brand can occur as a result of a single event such as a plane crash or oil spill. A series of less devastating injuries to a brand, such as a communication system that shuts down for periods of time, can cause frustration on the part of consumers, and ultimately abandonment of the brand for a more reliable service.
The decline of a brand can occur for a variety of reasons, but very often brands can be rescued and resurrected. Salvaging an existing brand is not only possible, but it is sometimes a better and more profitable strategy than creating and launching a new brand. The development and marketing of a new brand can cost millions of dollars and, with a bit of effort and polishing, it may be possible to dust off the old one at a substantial cost savings. Moreover, in some instances, such as for the personal brand of a rock star or professional athlete, the brand cannot necessarily be replaced.
Coming to a decision as to whether revival of a brand should be attempted is often not easy. The type of damage and extent of damage need to be assessed. For example, the slow decline of a well-known brand may be more easily reversed than one that has experienced a catastrophic event. Also, a brand that suffers from a single weak element, such as customer awareness, but is otherwise strong in terms of product quality, longevity and image is likely a far more worthy subject for a resuscitation attempt than a brand that is lacking in numerous areas. Thus, a review and assessment of whether the brand holds sufficient residual value is in order.
In situations where is has been decided that a revival is worthwhile, a few key considerations will help smooth the path forward:
- Remember – and capitalize on – the brand's longstanding customers. Their loyalty and enthusiasm for the brand can be key to its revival. Engaging them in promotions and contests by way of social media and other means can create new interest in and excitement surrounding the brand.
- Be sure to review existing protections for the brand and take care of any updates or upgrades as necessary. Ask at least the following questions:
- Are all of the important trademark registrations in place?
- Have the designs of any of the registrations changed?
- Do the registrations cover the current products or services?
- Are the trademarks protected in all of the important jurisdictions?
- Once a revival has met with success, infringement and counterfeit issues are likely to arise and it is important to be in a position to reap the benefits of the revival campaign.
- Take a second and careful look at the back-story behind the brand. What was socially acceptable when it was originally created may no longer be embraced by consumers. For example, if the original brand image included a depiction of an individual that invokes a disparaging viewpoint on a particular ethic group, an update is in order. Other examples may include a brand that suggests a diet that is no longer considered to be healthy or an attitude toward a particular segment of the population, such as stay-at-home parents, which is no longer considered to be valid. A careful review and consideration of these issues can be very worthwhile. In some cases an update will be possible, but in others a re-brand may be preferable.
- Don't discount the potential power of nostalgia. Did you think that vinyl records or Polaroid cameras were a thing of the past? In some situations, capitalizing on the vintage aspects of the brand may be a sound strategy.
- Environmental issues may not have been in the forefront at the time the brand was originally created, but they are now ignored at your peril. Marketers of bottled water have learned this lesson.
- Identify and re-assess the target market for the product or service. Markets shrink and expand over time and can also undergo inherent changes. In some cases it may be preferable to shift the target and in others the creation of a separate new sub-brand or line of products for a particular market segment may make sense. The Victoria's Secret "Pink" brand is a good example of an off-shoot for the somewhat younger crowd.
- Technology can be key to rebooting a brand, as was demonstrating by the use of the scientific precision with which old Beatles music was updated for the new generation. It can also be used to good effect to extend a brand, as for example, Transformers toys became animated movie stars.
Can an old brand learn new tricks? With a careful review of the situation before making a decision to proceed with a brand revival and with a clear strategy in place, redemption is definitely possible.
The preceding is intended as a timely update on Canadian intellectual property and technology law. The content is informational only and does not constitute legal or professional advice. To obtain such advice, please communicate with our offices directly.