Is ‘continuous’ brand renovation as powerful as breakthrough innovation?
Pitched as an alternative to radical innovation, is brand renovation an efficient way of getting existing customers to fall for your products all over again?
The quest for breakthrough innovation is a persistent challenge for marketers, many of whom are charged with delivering growth through new products and services despite their budgets coming under ever greater scrutiny.
But what if tweaks to the format, product or proposition could deliver the same innovative firepower at a lower cost?
In April, Coca-Cola CEO James Quincey emphasised the power of brand renovation as an alternative to radical innovation. He outlined the success of giving Fanta an “orange-ier” flavour, arguing such tweaks can remind current consumers what drew them to a brand in the first place.
