Six Rules of Brand Revitalization: Learn the Most Common Branding Mistakes and How to Avoid Them, Second Edition

6. Tendency 6: The Failure to Innovate

Which consumer industry has seen new product development go through the roof with at least 700 new products in 2014? If you said, beer, you are correct. According to new U.S. data, “a new craft brewery opens every 16 hours on average.”¹ As reported by CEO Tom Long in the November 6, 2014, MillerCoors, SABMiller PLC Trade Update, “...more than 700 new brands have been introduced across the country so far this year. So it’s a really busy marketplace....”² Craft brewing, sub-brands, and brand varieties have completely altered the brew landscape. The innovation in a category that last innovated with “lite” beers has been staggering even if some of the innovations are new flavor offerings.

“We have delivered ...