Establishing a well known brand is not only challenging but also essential. For example, take a look at Nike. Since the inception of Nike in 1964, the athletic apparel giant has been able to dominate. Nike has been able to succeed for generations because it’s constantly adapting to meet market needs. If companies want to establish a long living brand, they need to stay innovative.
Imagine what would happen to Nikes brand if they launched their signature “swoosh” logo and then sat back and said, “we’re good for this generation.” Nike’s brand image would be extinct.[…]