Anybrand must “evolve” as it grows, or become stagnant, and lose all momentum built up since its inception. This sometimes requires making a bold move to obsolete a product, even when sales would tell you to hold on longer.
When moving a product out of the life cycle while still popular, creates an inherent demand for the next “Evolution” of this generation or completely new idea. From both a design and functional perspective, this relentless pursuit of “Innovation” many companies profess is extremely high risk, and not always swallowed in its entirety. Some make progressive improvements, and still keep the previous generation in the pipeline, while others “pull and push” the old with the new.
Either way, each may be right for the brand, relative to the current status of product pipeline, and needs within your specific channel (i.e, price point, draw down’s). However, the truly “Evolutionary” brand not only re-creates the product, but the category and eventually becomes the dominant leader as a result (Apple, Nike..). This is why there are so few “Evolutionary” brands, as this mindset is established through its founding principles and never compromised.
“The only sustainable competitive advantage is out-innovating your competition.”
– James Morse – Change Guru
“Stay True”, “Take Risks” and success will come to those who “dare” to “Evolve”…!
All the best..
Enjoy the Ride..!
“Product Innovation and Marketing Success Blog”
Bryan Smeltzer is a successful consumer products business executive and entrepreneur. He has held executive-level roles in business development, product, and marketing with some of the world's most prestigious brands, including; Oakley, TaylorMade, Adidas, K-Swiss, Schutt Sports, among other international brands. In addition, Mr. Smeltzer founded an apparel brand, successfully running a profitable business for ten years, eventually selling to a VC firm. He currently oversees LiquidMind Inc., a global brand strategy firm that partners with both start-ups and established brands to empower their businesses to think different, be different, drive a passionate culture, and execute relentlessly.