Seize new opportunities
Guest commentary by Peter Wippermann on the rapid pace of social change - and the challenges that this poses for brand strategists if they want to profit.
Guest commentary by Peter Wippermann on the rapid pace of social change - and the challenges that this poses for brand strategists if they want to profit.Ebay was the most popular brand in Germany in 2003. This success had nothing to do with brand technology, but with interactive technology and communicative feedback loops.The rules of brand management have changed fundamentally, their trends follow the proximity to the consumer. Economic success requires marketing to adapt to social, technological, economic and cultural change.
One of the most serious changes in our society results from its ageing population. In future, there will be less money available for consumption because there will be fewer buyers. The "silver market", so named after the gray temples of the new old, will become the last growth market. The motto of the aging baby boomers themselves will be "Never old again". The perceived age will become the focus of all brand promises.
The task for brand strategists: Which brand promises will keep you attractive to the new old? What do the new offers for a single society look like? And is intergenerational brand management worthwhile?
Further impetus is coming from the triumphant advance of the Internet. The use of the Internet and cell phones in the private sphere is changing our everyday culture and the sphere of "personal media" is gaining in importance. Mobility and media accessibility are establishing a new lifestyle of remote presence; information technology is becoming relationship technology.
The task for brand strategists: How do you organize media proximity to make profits? How do you develop new brands in the media society? And how interactive must the "old" brands become?
Have you ever thought about your own time? No? But you should, because your own time, the personal time used economically, is your capital of the future - and that of your customers. Personal time brings prosperity: Businessweek magazine reported at the end of 2003 that a US family statistically already saves 4500 dollars a year through online shopping. "Dynamic pricing" is the result of calculating with consumers' time. If you have little money, you invest time and accept the providers' externally determined time. Those with money buy time in order to optimize their own time.
The task for brand strategists: How do you utilize the advantages of "dynamic pricing"? How do you calculate the time factor in offers? Do price and cult brands have to merge if consumption is determined by one's own time?
The end of linearity is also evident in culture. Traditions used to be the anchor of orientation, today they are subject to playful reinterpretation. The cultural vacuum is being redefined by means of sport. The success of various TV casting shows demonstrates this: What constitutes fame and star quality is no longer a question of artistic competence, but results from the sporting struggle of the media audience.
The task for brand strategists: In which ranking is my greatest profit? How do I minimize the costs of casting? How do I stimulate voting? How do I focus on my core brand values?
> Peter Wippermann Founder of Trendbüro, Professor of Communication Design at the University of Duisburg/Essen.
One of the most serious changes in our society results from its ageing population. In future, there will be less money available for consumption because there will be fewer buyers. The "silver market", so named after the gray temples of the new old, will become the last growth market. The motto of the aging baby boomers themselves will be "Never old again". The perceived age will become the focus of all brand promises.
The task for brand strategists: Which brand promises will keep you attractive to the new old? What do the new offers for a single society look like? And is intergenerational brand management worthwhile?
Further impetus is coming from the triumphant advance of the Internet. The use of the Internet and cell phones in the private sphere is changing our everyday culture and the sphere of "personal media" is gaining in importance. Mobility and media accessibility are establishing a new lifestyle of remote presence; information technology is becoming relationship technology.
The task for brand strategists: How do you organize media proximity to make profits? How do you develop new brands in the media society? And how interactive must the "old" brands become?
Have you ever thought about your own time? No? But you should, because your own time, the personal time used economically, is your capital of the future - and that of your customers. Personal time brings prosperity: Businessweek magazine reported at the end of 2003 that a US family statistically already saves 4500 dollars a year through online shopping. "Dynamic pricing" is the result of calculating with consumers' time. If you have little money, you invest time and accept the providers' externally determined time. Those with money buy time in order to optimize their own time.
The task for brand strategists: How do you utilize the advantages of "dynamic pricing"? How do you calculate the time factor in offers? Do price and cult brands have to merge if consumption is determined by one's own time?
The end of linearity is also evident in culture. Traditions used to be the anchor of orientation, today they are subject to playful reinterpretation. The cultural vacuum is being redefined by means of sport. The success of various TV casting shows demonstrates this: What constitutes fame and star quality is no longer a question of artistic competence, but results from the sporting struggle of the media audience.
The task for brand strategists: In which ranking is my greatest profit? How do I minimize the costs of casting? How do I stimulate voting? How do I focus on my core brand values?
> Peter Wippermann Founder of Trendbüro, Professor of Communication Design at the University of Duisburg/Essen.
