Click to read the original article for details. Why are once-big brands being decried? And why is P&G, the inventor of brand manager theory, the most criticized? Is the era of brand extinction really coming? Recently, many big brands have been continuously decried, such as Coca-Cola, P&G, Walmart, Muji, Huiyuan Juice, and even Apple, Google, Tencent, etc. Among them, P&G has the most topics—statements like "P&G's decline is inevitable" and "P&G is being abandoned by the times" are everywhere, and some even made explosive remarks like "P&G is dead and will never come back," attracting widespread attention. Thus, some assert that in the Internet era, brand marketing is outdated, brands are heading toward extinction, and the Internet era does not need brands but explosive products. Internet celebrities without brands or logos are thriving; no matter how bad the product, a super internet celebrity can make it sell well! Why are once-big brands being decried? And why is P&G, the inventor of brand manager theory, the most criticized? Is the era of brand extinction really coming? The Predicament of P&G and Others: Brand Aging This is not the first time P&G has been decried. In 2016, there were many posts online that attracted a large number of onlookers to discuss, but from P&G's actual performance, you can know that these articles are just for attention. In 2018, P&G's global revenue was 456.1 billion yuan, a 3% increase from 2017, with China growing 7%. This international daily chemical giant with a history of over 180 years is still the world's number one in daily chemicals. If this is not obvious enough, comparing with domestic daily chemical and cosmetics brands, we can see more clearly: Liby Group achieved revenue of 21.07 billion yuan in 2018, about 4.6% of P&G's; Shanghai Jahwa achieved revenue of 7.137 billion yuan in 2018, about 1.5% of P&G's. Claiming that P&G is declining, being abandoned by the market, and will never recover is an exaggeration, but it is an indisputable fact that its revenue growth has indeed slowed down. I believe that big brands like P&G are currently facing some transformation difficulties—their size is too large, and precisely because of their enormity, it is difficult for them to respond quickly in an era of changing consumers and constantly evolving demands. For example: non-chemical, environmentally friendly washing and care products are now very popular. P&G has been making chemical products for nearly 200 years. Facing this change, it is like a giant's movement, becoming extremely difficult and slow. This leads many young consumers to gradually think of P&G as a "mom brand," and signs of brand aging are gradually emerging. All the big brands that are being decried actually face more or less the same problem—brand aging. In China, emerging brands like Heytea, Naixue Tea, Miniso, and Hema Fresh are constantly impacting them. New trends and new brands are constantly emerging, capturing more young consumers. The time left for big brands to transform is getting less and less. This is also what many entrepreneurs need to pay attention to: Is your product still liked by young people? If not, you should think about whether your brand is facing a crisis of aging. In my view, a brand is a special living entity. Since it is a living entity, it must undergo metabolism and continuous evolution. Any brand that does not evolve or whose metabolism slows down will inevitably face aging, decline, or even death. Brand Building in the New Era Is More Strategically Significant Some people think that in the "Internet+" era, consumers can easily access a large amount of information and various products. The concept of explosive products is deeply rooted in people's minds. People only need products that sell well, and the brand concept is gradually weakening. Is this really the case? Of course not. Brands are commercial products that have accompanied humans since birth, so as long as humans exist, brands will never die out. In the new era, brand building is more strategically significant. How to make brands younger and contemporary is the core. However, many enterprises, influenced by the "brand uselessness" theory, adhere to the principle of "sales first" and explosive products, believing that as long as products sell well, brands have become unimportant. Little do they know that in the "Internet+" era, competition among products is increasing. Your consumers and competitors come from all over the country and the world. All business competition has become competition among similar products from around the globe. The intensity is imaginable. How can you win? Without a brand, it is easy to become popular but also easier to disappear. The short-lived nature of explosive products actually harms enterprises, causing many companies to have products that are popular for a while but cannot sustain their business. When products stop selling, some companies die. For example, the once extremely popular self-balancing scooters came and went quickly for this reason. So, without a brand, you may have some sales, but you definitely cannot go far. Under the new era of the Internet, consumption upgrades have given birth to a large number of younger brands. At this time, brands have only transformed their mode of action and communication. New models and new media make brands not only not die out but become increasingly important in this material-rich era. New demands are constantly being explored. No brand can satisfy all consumers' needs. More new categories in segmented fields will be created. Only new brands that deeply understand consumer needs and revitalized traditional brands can have great potential. In the Internet era, the way people obtain information and make purchases is no longer limited by time and space. Stimulated by fan economy and social new retail, even the smallest brand has a chance to succeed. Brands create higher premiums. The culture extended by a brand is an important added value beyond the product itself, effectively enhancing product premium. Conversely, a product without a brand, no matter how good the packaging and quality, is hard to generate high value. Three Squirrels is a very typical Internet brand. Through brand management and building, it can sell at a higher price than similar products and still sell well. Brands are increasingly transcending the initial stages of product trademarks, packaging, or product concepts, rising to the level of corresponding consumer emotional value and cultural value, the spirit and sentiment of the times. The culture of an era must be reflected in the brand. This emotion, culture, and sentiment will be rooted in consumers' minds. If your brand does not align with changes in consumer minds, it will inevitably face decline and aging. How to change? How to upgrade? Will be revealed step by step in future articles. With economic globalization, the world's consumption has long entered the era of "brand consumption" from "product consumption." Therefore, since 2017, May 10th has been established as "China Brand Day." Enterprise brand building has entered the national strategic level. From "Made in China" to "Created in China," starting with Chinese brands like Huawei, it will not be long before Chinese brands become world-class brands! (Some viewpoints in this book come from the upcoming book "Brand Charge - Adopting Brand Marketing Tactics" published by Huawen Publishing House) Source: First Marketing Network