Among the world's leading brands, there are three brands that have been around for over 100 years: Coca-Cola (Coke) was founded in 1886, GE () was born in 1890 by Thomas Edison and IBM, Although it was founded in 1911, its predecessor was a company founded in 1888. What is the secret to "living with the times" of these brands?
In the minds of customers, brands like Coke, GE, and IBM are legendary. Despite major changes in consumer tastes, business environments and marketing practices, these brands have survived over a century and have remained at the forefront of the competition. Global.
Although operating in different industries, all three brands have the following secrets in common that help them survive over time.
Pioneering
All three of these brands were born based on a pioneering new product. Coca-Cola is a unique beverage invented by a pharmacist. GE initially had a product that was the result of Thomas Edison's creation - the fluorescent light bulb. IBM is considered the world's first record company.
While many other brands are born from specific products, the three brands above create a difference by constantly innovating throughout their time in the market. For example, Coca-Cola has designed a unique bottle and is at the forefront of marketing techniques.
GE established a laboratory, now known as the GE Global Research Center, to obtain thousands of patents, which also helped GE win two Nobel Prizes. IBM pioneered the creation of computers using convertible software, successfully bringing the first personal computer (PC) to market and leading the e-commerce revolution. death.
Various of
Coca-Cola started with just one product, but now sells more than 400 types of products in 200 countries. Among these, Coca-Cola owns four of the five leading non-alcoholic beverage brands in the world and a number of other brands of drinking water, fruit juice, tea, coffee and energy drinks.
GE has six different business segments and is providing products and services to more than 100 countries around the world. GE Industrial sells industrial and consumer products, plastic products, security equipment and services.
GE Healthcare provides medical and clinical systems. GE Infrastructure operates in the fields of energy, aviation, and transportation. GE Commercial Finance provides financial services for businesses and real estate businesses. GE Money operates in the field of personal financial services.
IBM has also taken a big step forward, moving from manufacturing computers to providing business solutions that integrate hardware, software, products, services and network technology.
By acquiring software companies such as Lotus, Tivoli and Rationale as well as the global business consulting division of PriceWaterhouseCoopers, IBM has expanded its reach into many different sectors in an ever-changing business environment. change quickly.
Famous leaders
Coca-Cola considers the person who has the greatest influence on this company to be Robert Woodruff. Woodruff became President of Coca-Cola in 1923. Woodruff's talent in marketing expanded the company's operations to foreign markets and was present at the 1928 Olympics, as well as developing many solutions. Unique packaging and distribution.
Thomas Edison is one of GE's elite leaders, but many people also believe that it was Jack Welch with 20 years of driving GE that made this company a "giant" in the modern business world by streamlining operations, acquiring new businesses, and working to make every GE business the best in its field.
The company's revenue has increased from about $27 billion (before Welch joined) to nearly $130 billion (when Welch handed over management rights to others).
At IBM there is talented Lou Gerstner. Gerstner joined IBM as the first leader from outside in 1993, when IBM was facing difficulties (loss of business direction, declining profits). He came to a controversial decision that changed the face of IBM. It was to retain the company's consolidated structure instead of dividing it into independent companies, and it was this decision that revived the IBM brand.
Ability to recover quickly
All three brands, Coca-Cola, GE and IBM, have stumbled, but that hasn't stopped them from succeeding. One of Coca-Cola's "lifetime" incidents that has now become one of the classic mistakes in branding is the introduction of the New Coke brand to the market in 1985.
The directors of Coca-Cola decided to renew the Coca-Cola product by changing the traditional secret formula of this product that was 100 years old (by that time), but only for three years. Months after bringing New Coke to market, Coca-Cola admitted its mistake and returned to original Coke under the Coca-Cola Classic brand.
The original traditional recipe is still popular with consumers and Coca-Cola has regularly promoted the brand. In 1994, Coca-Cola pursued ideas around the theme "A 360-degree picture of Coke", whereby all Coca-Cola advertising programs, products and vending machines appeared in all locations. even places where customers can see it, making it possible for them to buy a product even if they don't know that it's what they need.
Coca-Cola, GE and IBM have all succeeded because they have always pioneered innovation, thanks to their diversity and ability to bounce back quickly after failure. If they continue to maintain their focus and consistency, these brands will certainly be among the top brands in the world for many more years to come.
Saga
