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Has Your Brand Passed Its Use-By Date?
For readers who have as many grey hairs as I do, they will remember the saying:
"No-one ever got fired for buying an IBM".
This was in the days of big mainframe corporate computers and in a world where IBM was dominant. Yes there were other computers brands, some better and some worse, like any area of the market, but IBM had so worked on their brand that they had become the safe choice. This worked particularly well in a corporate world where brave decisions were seldom rewarded. So tilted was the playing field that if you were the IT director recommending a non-IBM solution, you had to justify to the non-technical executive team why you were going to risk their business by not going IBM.
This worked to IBM's advantage for many years, but unfortunately for IBM, it became as conservative as its customers - not a great strategy in a technology sector which was being transformed by aggressive innovation by its competitors.
Ultimately there was a gap created between the power of the brand and the benefits of new technology. These became large enough to bridge the risk of taking a chance with a smaller player. There was a famous ad at the time showing an executive clearing out their desk and someone saying to a colleague in the background "Did you hear someone just got fired for buying an IBM?"
The IBM brand had reached its use-by date. This was nothing to do with their logo of course. It was about what IBM stood for in the marketplace. Rather than being the safe choice- it was looked at being staid and old fashioned at a time when computer technology was becoming very cool.
What does your brand say about you? Does it reflect your current market? Is your marketing strategy keeping place with your changing marketplace or has it passed its use-by date?
All you need to do now is to Empower yourself and take action ...
May Your Business Be - As You Plan It.
Dr Greg Chapman - The Business Brain Surgeon
The Australian Business Coaching Club