One reason is when they fail to keep the promises they made.
Emotional Connect – Brands are fundamentally about emotions & strong brands evoke Emotions
Consumers to Hydrid Consumers – Consumers to Hybrid consumers. There is no Segment Row. The target groups are not so categorically divided anymore.
Relevance is earned by creating an impact on Society
No more One Way Communication (Brand to consumers) Social Media - The time when brands talked to consumers are gone. Today consmers talks to consumers on social media. If the marketing team is not a part of conversation then they would lose theiir trust. The response needs to be intelligent & quick. People usually expect brands to resod in 15 minutes and on facebook within 59 minutes
Innovation is what can beat inflation
Partnership - Reinventing brands through brand partnerships is reuired.Era of Dependent growth. We can all grow together. Brands have to think with whom thwy can partner. Example (Nokia & Airtel). The brand should ask how they can grow together. They should submerge their ego at the negotation table
Digital Media Kills Middle man – Every Industry in which Middel man is not adding value is dying at the hands of mobile & internet. The digital world is very important for reinventing a brand