Remaining relevant in a changing world is critical to a brand’s health. Relevance is a key driver of purchase intent. Relevance means the brand is up to date and current in customers’ minds. Relevance means the brand is seen to be addressing current customer needs. Relevance along with differentiation is necessary for defining brand value. Is the branded experience I receive or expect to receive relevant and differentiated relative to other brands? The practices for restoring brand relevance follow:
• Thorough knowledge of the market
• Needs-based occasion market segmentation
• Brand Promise
Customers want brands to satisfy their needs. They want to believe that brands understand ...