Incumbent brands that are industry leaders are increasingly facing disruption from some insurgent competitor. However, there are ways in which legacy companies can prepare themselves so they may maintain their position and even grow. Management consulting giant Bain & Company has identified 80 brands in the US alone that may be categorized as insurgent. These are those brands which experienced a ten times category growth and have revenues in excess of 25 million dollars. None of these companies are aged 25 or more. There are also other companies not yet so big, but growing in numbers. A lot of those getting disrupted meanwhile are ones which have large scale, but not growing at scale. These are typically part of large conglomerates, focused on the CPG (Consumer Packaged Goods) segment. In the categories present, these insurgents make up as yet a mere 2% of the market, but 255 of the growth, soon to be 30%. They all seem to have authentic product offerings backed up by compelling founder stories. Blogging is a key part of the digital marketing strategies these upstarts have adopted. For premium products there is now a much bigger audience than ever before. For legacy brands to survive and prosper there are a few key things to address. To start with, the brand needs to be memorable to be easily visible among shoppers. The coverage must be broad. Specific focus needs to be driven towards its business and operating models.

Source:https://www.bain.com/insights/how-to-think-and-act-like-an-insurgent-brand-in-the-age-of-assistance/

Uploaded Date:28 October 2018