Brands Cannot Be Expected to Last Forever

I disagree with the idea that brands cannot be expected to last forever. “Some brands have lasted for decades, even centuries.” (“Brand survival,” 2007) From a marketing manager’s perspective brands that can be expected to last forever have continuously built, measured, and managed the proper brand equity that allows for a brand to survive forever. Continuously building, measuring, and managing brand equity will be discussed further to support the idea that brands can be expected to last forever.

According to Kotler and Keller, “Brand equity is the added value endowed on products and services. It may be reflected in the way consumers think, feel, and with respect to the brand, as well as in the prices, market share, and profitability the brand commands for the firm.” (2009, p. 240) When creating brand equity marketing managers must first create the right brand elements that will attract and identify with consumers. Marketing managers utilize six main criteria for choosing brand elements such as, ensuring their brands are memorable, meaningful, likable, transferable, adaptable, and protectable. (Kotler & Keller, 2009 p. 246) For example, “Nike has multiple brand elements in which consumers can identify with such as, the distinctive “swoosh” logo, the empowering “Just Do It” slogan, and the “Nike” name based on the winged goddess of victory.” (Kotler & Keller, 2009, p. 246) Consumers recognize brand elements and are more likely to continuously purchase the brand due to their familiarity with the product and/or service.

In order for a brand to last forever marketing managers must continuously measure brand equity. Marketing managers must conduct brand audits and brand-tracking studies. “Conducting brand audits on a regular basis, such as annually, allows marketers to keep their fingers on the pulse of their brands so they can manage them more proactively and responsively.” (Kotler & Keller, 2009, p. 251) “Tracking studies are a means of understanding where, how...