Products have a natural life cycle.
There are new arrivals, the old must go – if left unchanged.
There are two main reasons: the customer experiences are no longer appropriate and the competition has captured the position of the old brand.
Two Wise Men recommand not to throw in the towel. On The Contrary, salvaging sunken brands can create tremendous value for both the consumer and the company.
Engage us for your specific treasure hunt!
Example: Revitalisation of an old traditional German brand
Two-Wise-Men were ask, to breathe new life into an old traditional German brand in the field of fashion and accessories. In their heydays the brand belonged the top global brands in its segment.
We knew there was only one road to success. We needed to create a complete new, non existing product experience. We also recognized with design, elegance or pure quality we could not score. The Italian and French brands dominate this field. It is impossible to challenge rivals where they are strong.
However, we recollected the core characteristic of German products: technical brilliance. It became immediately clear that we ought to create new emotional products with innovative technical features adding relevant and unrivalled usefulness.
Eureka! The old brand lives.