If you are launching a new exciting brand or managing a longstanding successful brand in a big company, it is not uncommon to hear an executive pronounce that she wants the brand managers to behave in such a way to ensure the brand will be not only around but successfully growing 50+ years from now.
Fifty years seems like an eternity to a brand manager that usually spends no more than 2-3 years on a brand and sometimes much less.
The 50 year pronouncement also infers that a brand manager should build the brand with an emphasis on actions that will create value over time vs. pursuing short term gains in sales and share.
Regardless, most brand managers envision taking actions that will spike the value of the brand in the here and now - growing sales and share rapidly to make him and his resume look like a star.
I was born and raised in Philadelphia, so Yuengling (Ying-Ling) Beer has always been around my life.
It is the oldest brewery in America, 181 years old, always privately held, family owned and family run.
Yuengling has never been in a hurry. It is only distributed in 15 states despite the fact that people clamor for it across the country. It is rock star hot right now - the brand can expand almost wherever it wants. The CEO (last name Yuengling) won't allow it. He just bought a brewery in Memphis for $20MM - the company's biggest expenditure ever. The press is aflutter speculating that the beer company will expand rapidly throughout the Mid-West and South.
According to the CEO, they will pursue their successful 181 year-old strategy of ... not-so-fast. In fact he stated, "we've been around for 181 years, we're not gonna be in a hurry now".
Distinct product, consistent product, slow, steady, deliberate, conservative, good price/value ratio, staying power. Chasing great vs. money for money's sake and, voila, 181 years later the family still owns a successful business.
Does the "not so fast" strategy sound like a familiar one used by the people who profess to be building a brand that will stand the test of time?
O.D.O.o.O.D.B.