Week 6 - Innovation, Evolution, Failure (Cont.) Digital Media PDF

1 Brand Management Week 6- Innovation , Evolution, Innovation, Evol, Digital Media. Monday, Failure (cont.) & Digital Oct 7, 2024 Media Discussion on Zac Posen Gap article...

1 Brand Management Week 6- Innovation , Evolution, Innovation, Evol, Digital Media. Monday, Failure (cont.) & Digital Oct 7, 2024 Media Discussion on Zac Posen Gap article Branding Failures Readin 2 g Innovation, Evol, Digital Media Inside the Great Gap Glow-Up Can Zac Posen, known for over-the-top glamour, reinvent the American mall brand — and change his reputation in the process? Branding Failures 3 Branding failures highlight the importance of brand processing in Innovation, Evol, Digital Media guiding innovation. Brands that neglect this step risk making strategic errors that can lead to major setbacks or collapse. Blockbuster 4 Blockbuster dominated the video rental market but ignored the growing shift toward digital and streaming services, underestimating the threat posed by Netflix. Innovation, Evol, Digital Media. Brand Processing Failure: Blockbuster’s failure was rooted in their inability to process the evolving consumer demand for on-demand content. They stuck to their traditional retail model even when faced with clear signs of change. Outcome: Blockbuster’s refusal to adapt led to its demise, and by 2010, it had filed for bankruptcy while Netflix surged. Lesson: Sticking too long to an outdated brand model without processing market evolution leads to irrelevance and failure. Innovation, Evol, Digital Media. 5 Innovation, Evol, Digital Media. 6  7 Pepsi’s Kendall Jenner Ad In 2017, Pepsi launched a controversial ad featuring Kendall Jenner, which attempted to align the brand with the social justice movement. The ad was quickly criticized for being tone-deaf and trivializing important social issues. Innovation, Evol, Digital Media. Brand Processing Failure: Pepsi failed to properly process the cultural and social context of its audience. Their innovation in trying to align with social causes backfired because they didn’t gauge the sensitivities of their target market. Outcome: Pepsi had to pull the ad immediately and issue a public apology, damaging their brand Reputation in the short term. Lesson: Innovation without careful cultural and social processing can alienate audiences and harm brand credibility. Social Media Effectiveness 8 Class Exercise - Let’s find an interesting brand and a super boring brand Step 1: Select a brand and analyze its recent social media activity. Step 2: Evaluate the following: Engagement levels (likes, comments, shares) Content type (videos, posts, stories) Alignment with brand values Response to customer feedback  9 A Digital Branding Strategy 1. Project plan a. Customer personas b. Your ideas & sketches c. Market research d. Brand name development e. A checklist of tasks f. Client feedback g. Any other notes or ideas related to the project 2. Brand Audit - ( only for rebrand) 3. Target audience 4. Competitive landscape 5. Brand personality 6. Brand name development 7. Moodboard