Week 5 EOC: Trend Predicting

The interview between Shari Swan and the author of More Than a Name: An Introduction to Branding, Melissa Davis, leads to very relevant perspective on the importance of tracking trends and relating it to a company’s brand. Social media is playing an ever important role in marketing on both fronts, both brand marketing and direct marketing. Millenials and younger demographics are finding it easier to research a brand and authenticate its message much easier through the power of the internet and social media sites. “Today’s youth interacts with brands that connect with it on an emotional level. They want to feel that a brand belongs and connects to their lives. They are interested in co-creating with brands and want to feel that they can influence product design, marketing, events and communications” (Interview with Swan, Davis, 153). Consumers today are more integrated with the brands they buy because they feel the emotional connection that makes them relate to the brand and become a loyal customer. It is smart for a company’s brand to involve their consumers in the design process as it leads the consumer to believe they too are a part of the brand. It is an increasing trend for brands to run interactive events through social media such as letting Facebook fans pick the new product. Sites like Crowder.com have seen this trend increasing and are producing a product for brands to entice them to interact with consumers.

Looking at trends outside of the company’s direct market group is an intelligent way to broaden the scope of a brand’s reach. “Radical innovations come about when elements from very different worlds are brought together” (Interview with Swan, Davis, 153). We see this increasingly more with brands creating partnerships with other brands to draw a bigger audience. H&M and Jimmy Choo, even though they have very different target audiences, have banded together to create a collection that increases brand awareness for both, and draws customers to their stores. Even more evident of this is the relationship between Burton clothing and iPod. They have teamed together to create a unique product that appeals to both Apple fans and athletic clothing wearers.

It has become a big trend for companies to identify themselves as being socially and environmentally responsible. “If corporations don’t take their ethical ethos and corporate principles seriously in the development of their brand – from design to development to logistics, operations and marketing – then they are going to struggle. Social and ethical responsibility is now a given for doing business in today’s environment” (Interview with Swan, Davis, 153). Consumers want brand credibility with what they buy. The internet has effectively changed the way businesses can conduct themselves as transparency has made ethos a company’s duty to the public. These trends is branding are becoming the norm in business and companies must not only be reactive to them but proactive in seeking new opportunities to expand their brand reach.