Successful brands strive for integrity and sales growth, but growth can pose challenges to a brand or brand product(s) when the core audience has an expiring lifecycle (Ex.: Reckitt’s Finish core audience is 55+). Companies are assessing not only their equity and portfolio, but also their audiences and making decisions on which is more valuable. Neither must be eliminated but understanding both is key to brand longevity. It’s no surprise consumer journeys shift based on type of target, so we’re seeing a need for staying abreast of emerging trends and technologies to champion hybrid long-term/short-term planning.
- Explore general consumer behavior in the world of commerce, with a particular focus on youngest and oldest consumers.
- Investigate case studies to understand how brands are shifting, not only their marketing efforts (thinking long-term while remaining adaptable), but also their product portfolio to appease their broader audiences (studies from IN Partners Reckitt/Finish and Edgewell).
- Identify best practices in striking the right balance between the core shopper and potential shopper, including answering questions such as “What are brands willing to sacrifice without losing their core shopper?” and “How can brands adapt their portfolios while ensuring strong representation of what they stand for?”