Radical Innovations, Relevant Brands Brands

Finding the balance between maintaining the old and introducing the new is one of the most difficult tightwires to walk for bands or brands-a balancing act in which it is easy to fall by launching radical new products or changing the brand too rapidly. When successful bands and brands don’t innovate, however, they run the risk of gradually fading away like Elsie the cow, former top bovine in the oncestrong portfolio of Borden brands. Radical innovations that force consumers to throw out the old in the name of the new often reach results similar to those of Pets.com, Webvan, or any other dot bomb of the 1990s. Unlike the short term success of these and other onehit wonders of the e world, eBay, in contrast, simply took a business format consumers had experienced for decades-the auctions-and migrated it to the Internet, with its enormous geographic reach compared to local auctions and flea markets. It has never strayed far from its core product, but has added technology and protection features to the point that eBay now dominates the auction business as the most profitable firm on the Internet today.

Create Culturally Relevant Brands Brands are often rejected if people feel they are not culturally relevant. If a product doesn’t match their lifestyles, values, belief systems, or basic needs, consumers forego a new offering and stick with what they know. Innovations, whether they be new technologies or new styles, are more likely to receive mass acceptance when they are introduced through an accepted channel.

Perhaps the most poignant example of this is the migration of rhythm and blues from black culture to white culture. Elvis transformed minority music, then known as R&B, into majority music, known today as rock and roll. If it were not for the post

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