Today, brands have become even more important than the products they represent: Their stories travel with lightning speed through social media and the Internet and across countries and diverse cultures. A brand must be elastic enough to allow for reasonable category and product-line extensions, flexible enough to change with dynamic market conditions, consistent enough so that consumers who travel physically or virtually won’t be confused, and focused enough to provide clear differentiation from the competition.
With consumer decisions being made at increasing speed and the time it takes to win wallet share rapidly shrinking, how can you prepare? Today's customer has more access to information and influencers, at a click or swipe, than ever before. The speed at which consumer decisions are made keeps increasing, and the time it takes for battles over wallet share to be won or lost is shrinking rapidly. Every fundamental assumption about customers is now being challenged: how they shop, where they shop, and why they shop.