Top 3 Reasons Why Your Brand Fails
You may think that branding is an easy stuff to do but the fact is you are wrong! Branding is not as easy as you thought and even some brands fail in brand building. WHY?
1. Over Confidence
Don’t think that only small brand will fail in branding, those big and successful company will also fail in branding. Why? They will be over-confidence due to their strength and past victories. The over-confidence lead them into complacency that they feel reluctant in trying new strategies. Sometimes, they even don’t care about their current or prospective competitors and can’t see their weakness which is really dangerous.
2. Position Amnesia
Amnesia is a disease that your brain gets damaged which led you lost your memory. Then, what is Position Amnesia? Position Amnesia is when a brand forget what is their brand stands for and tries to experiment with its identity and positioning to an extent which is totally different from their own stand. This could result in brand failures
as it might not be congruent to the existing image and positioning of the brand.
3. Lack of Change
The world is changing everyday and technology has become even better day by day. Due to this environment. it also requires the brand to change its marketing and branding strategies time to time to keep up with the trend and to continuously gain new customers. In this digital world, the brand will be left behind if they still using print media. Similarly, they may lose to their competitor if they fail to infer the current and future needs, wants, and desires of the customers.