If left to their own devices, most brands inevitably find themselves in a state of decline as they lose relevance or competitors steal market share. Imagine if the Levi’s brand had been left as it started and Levi’s were still marketed as hard wearing trousers for miners – would the brand still be as successful as it is today?
But brands don’t have to die. Unlike products, there is no defined life cycle for a brand and they can, in theory, live forever. Brands are precious – they are often a company’s most valuable asset – and by carefully controlling and tweaking them, in line with the brand strategy, they can be protected from decline and nurtured into growth. That is the ultimate purpose of brand management and development.
