Every consumer good has it’s characteristics that influence the behavior and purchase power of the end user (RE-BRANDING). But time is the limiting factor to a brand that has positioned itself to influence, motivate and efficiently solve a customer need.
Original Nokia CEO, in an emotional state said, “We didn’t do anything wrong, but somehow, we lost”. Nokia brand has over 100 years of manufacturing greatness but somehow they missed the Android hurricane to catch Symbian wave. Recently, the brand was acquired from Microsoft that too was unable to hype and move the mobile devices as the original owner. It’s clear then, that innovation will edge out businesses that are not working towards user experience rather building their own experience to consumers.
Branding played a key role towards Nokia brand impact to the consumers through the memorable ring tone and the addictive snake game that influenced kids and even created competition between peers since it was fun, enjoyable and addictive. I know you recall your Nokia experience, don’t you? The good news is that, the great Nokia 3310 is back, not bigger but better in a small way. But the question is, is it re-branding or re-invention? What do you think? Of course a brand savvy expert will conclude it as a timely re-branding which would contradict a tech savvy opinion to mean re-invention. What is re-branding then?
Re-Branding is the perception, image created through experience or correctly said, the product re-naming. But how then does a product lose its influence in the market? Innovation. Nokia missed the android hurricane because their belief was on Symbian Os that was not customer friendly and especially to the majority of the customers.
The convergence of former Nokia employees hatched the ‘great’ comeback that will have to make Nokia brand great again. The flagship brand 3310 that is now operating on a user friendly system will rekindle the joy and pride Nokia owners before the disruption of the now famous Samsung branded devices.
Whether it’s re-branding or re-invention there are lessons Nokia owners have learnt that we as well could apply whenever we are building a brand.
- A strong brand name will keep you in the market but not for long.
- Consumers will be loyal to your brand but not your experience.
- Re-branding is key towards the growth of a brand.
- Innovation and re-branding are like identical twins.
In conclusion
The advantage you have yesterday, will be replaced by the innovations of tomorrow. You don’t have to do anything wrong, as long as your competitors catch the wave and do it RIGHT, you can lose out and fail.
And lastly,To change and improve yourself is giving yourself a second chance. To be forced by others to change, is the painful exit. Remember the proverbial eagle that ‘re-brands or re-invents’ itself?
But what is important to recall is that “There is no innovation and creativity without failure. Period.” Brene Brown
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