Recently, I came across an interesting article about the importance of companies creating “new”, or at least, seemingly “new” products” (article can be found here: http://www.neurosciencemarketing.com/blog/articles/the-power-of-new.htm).
The article suggests that studies have shown that seemingly new products, whether they are simply repackaged old products or truly new product ideas, are extremely attractive to consumers. This goes for brands that consumers have always used or brands that are completely unfamiliar to them.
Now, I don’t know about these specific consumers that the article is talking about, but if I have never used a brand in my life, I am not going to switch over to them simply because they changed their packaging or altered their product. For one, I probably wouldn’t notice the change if I wasn’t a fan of the brand in the first place. Second, I am not adventurous enough to go out and try new products. So like I mentioned before, perhaps I’m just not one of those consumers that are drawn to “new” products.
The reason why this article is so interesting to me is because in Comm 296, we talked about the idea of brand familiarity. We as consumers are automatically and subconsciously (because of complex reactions and signals that our brain gives off, apparently. Thankfully, I am not a biology major) drawn to brands that sound or simply look familiar. If we’ve seen the brand somewhere, we’re more likely to buy it. The article gives a perfect example, stating that “changing a brand’s logo might provide a short-term boost, but might also weaken brand familiarity and attachment”, which is why they suggest marketers to “emphasize the novelty of their offering while still using the power of long-term brand affinity”.
I definitely agree that companies should be careful of creating too many new products, ideas, and packaging. There must be a balance between what the company decides to change and what they decide to keep as their “veteran” products.