Week 5 EOC: Trend Predections

How do trend projections play a role in branding?
Progressive brands are moving away from traditional advertising methodologies and opting for consumer insights to connect authentically to the market. Still, traditional brand-owners are not yet ready to accept that qualitative trends and consumer emotion are driving the market.
The interpretation of trend can be tricky as trend is often influenced by personal opinion and personal experience. There is also so much trend information available that brand managers have a difficult time prioritising the most relevant trends that are affecting their business. In addition, we may identify up to 40 global and local trends, but most corporations are only able to address two main trends per season.
How are people interacting with brands and incorporating them into their lives?
Today’s youth interacts with brands that connect with it on an emotional level. They want to feel that a brand belongs and connects to their lives. They are interested in co-creating with brands and want to feel that they can influence product design, marketing, events and communications.
The 18–24 youth market is wired, educated, cynical and irrational. They’re into brand authenticity. They know everything about the brands that surround them and have grave concerns about social and ethical responsibility. They believe that companies should give back something to the world in which they operate. Davis, M., and Baldwin, J. (2006). More Than a Name: An Introduction to Branding. AVA Publishing   pg. 152     

I feel that trends do have alot to do with the way a brand promotes itself. that has been many examples over the years on how companies that have been around decide to change there logo or brand image to fit a modern world. So many companies focus on their immediate competition for marketplace trends. I preach the gospel to brands about ‘looking sideways’ at products and brands in markets beyond their own. Radical innovations come about when elements from very different worlds are brought together. That could mean a company like Coca-Cola should be tracking what is happening in pharmaceutical branding or telecommunications rather than only studying beverage trends.