Brand Old

Yesterday at the Waldorf Astoria in New York, the rights to over 150 brands were put up for auction. Only a few dozen were actually sold and the total generated from the sale was only $132,000, with $102,500 coming from just three brand names: Meister Brau, Shearson and Handi-Wrap.

Probably the most valuable thing coming out of this auction for most marketers is the wake up call that brands die for a reason. Even great brands. They need to adapt, grow, and evolve to fit a consumer market that changes every day.

So if you don't want to end up on the scrap heap of brands along with Lucky Whip, Circus World and Braniff, make sure the things you do now will build the long-term value of your brand, not just next quarter's profits.