Write 3 page essay on the topic Brand Lifetime and Obsolescence.
Brand Lifetime and Obsolescence
What doesn’t die is the heritage of a brand specifically when it was never known for wrong reasons before the obsolescence. Hence, if a brand is obsolete (i.e., forgotten by people after the corresponding products become obsolete), it can be revived later by carrying out retro-branding by making people recall the old heritage of the brand and then link new offerings with the brand along with power sentences like “the leader is back with new promises” (Brown and Kozinets et al. 2003). However, what is important for revival of brands is that they should not remain obsolete across generations such that the people that loved them are no longer alive in the world. The only value of such brands may be their archaeological value whereby their products may be purchased as antiques.
We can imagine what would had happened to Ford if they were to continue with their Model T in today’s world of flashy & stylish cars and to Sony if they were to continue with their Walkman in today’s world of digital entertainment. These brands have survived due to their continuous innovations and launch of new products maintaining the past competencies and developing new competencies. Brands do become obsolete if new innovations & products are not launched for prolonged periods and existing products & services become obsolete due to the competition killing them through the creative destruction process.