Once upon a time, in a land not so far away, visiting a chain bookstore meant having the chance to chat with an associate that could actually talk to you about the books on the shelves. Some stores even tested newly hired staff on their literary knowledge to make sure they could manage customer questions. Recent years, however, have seen working at a big box bookstore become more of an ordinary retail job than a reader’s dream job.
Some of the most meaningful, transformational brand extensions came to fruition as a result of companies tapping into intangible yet salient aspects of their brand positioning. Like many other components of branding and brand strategy, successful extensions first require a shift in mindset.
Today’s information-rich, socially exhaustive environment has changed consumers’ approach to decision-making. Consumers do not simply expect better customer experiences—they feel that they’re entitled to them. Brands have almost universally accepted that digital is reshaping consumer behavior and shopping habits, yet many are still unable to reshape with them. Part of the problem may be that marketing leaders fail to understand just how profoundly digital technologies are influencing consumer expectations.