Important Survival Lessons from Dead Brands

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From the movie, The Sixth Sense (1999)

“Of all the things that your company owns, brands are far and away the most important and the toughest. Founders die. Factories burn down. Machinery wears out. Inventories get depleted. Technology becomes obsolete. Brand loyalty is the only sound foundation on which business leaders can build enduring, profitable growth.” — Jim Mullen, founder of Mullen Advertising.

Business leaders often fail to understand Mullen’s advice and stick to what they know, which is to continue to withdraw on their brand loyalty oblivious to the dangers that surround them.

Brand Experience

Brand loyalty isn’t what it used to be. There was a day, people who drove a Ford drove Fords their whole lives. Not anymore. Yet mobile phone companies like Apple and Samsung see customers stick with them from phone to phone. The problem is keeping up with customer’s expectations. There is no shortage of new and exciting brands. According to Harvard Business School professor Clayton Christensen, there are over 30,000 new produced launched every year. The choices are endless. With the help of the internet, the world is your oyster. You can quickly compare prices, performance, brand value, and user experiences 24/7, including one-click to buy.

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