I know the first thought that may run through the readers mind is about the slew of products out there for retirement and financial planning? The answer is NO.
I am trying to figure if brands have a life cycle? If they do when is it a time to retire them and along the way extract they equity or even pass it on to the next one in line?
The only real analytical retirement I have noticed is for equipment like cars and buildings. The math measures the return on investment versus the cost of upkeep to justify their existence? Humans retire because of nature induced frailty and their desire to enjoy the investment in life. Brands are obviously not that smart so the idea of enjoyment does not exist! Can brands be compared to non living things like equipment and buildings?
Much like equipment and buildings brands need investments. An investment in the visual element of the brand to connect with the consumer an investment in the emotion and the message that is culturally and time appropriate an investment in the association the brand makes through celebrities, ingredients and other brands. Obviously there is an opportunity to measure the relevant analytics to decide on the right time to retire the brand?
The time it takes to build the trust into a brand rarely ever lends itself to retiring a brand no matter how much it costs to revive the brand or even just steer it in a new younger life stage? As for me, frailty apart I think when I can afford to buy a car cash down at the price of my first house without feeling the pinch I will be ready to retire and enjoy!
