How to Reinvent a Consumer Brand

HBR IdeaCast

Harvard Business Review

Leadership, Entrepreneurship, Communication, Marketing, Business, Business/management, Management, Business/marketing, Business/entrepreneurship, Innovation, Hbr, Strategy, Economics, Finance, Teams, Harvard

4.4 • 1.9K Ratings

🗓️ 15 August 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

How does a brand or product that's been around for decades suddenly become popular with a whole new segment of consumers? Terence Reilly has some pointers. As CMO of Crocs, he used social media and celebrity collaborations to drive sales of its signature boat shoes. Now, as president at Stanley, he has made the company's durable mugs TikTok famous and bestsellers across numerous retail outlets. He explains how listening to employees and customers and acting quickly on their insights can help any organization spur growth.

Transcript

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0:00.0	Are you trying to bring your leadership skills to the next level?
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0:24.0	New episodes every Wednesday.
0:30.0	Welcome to the HBR Idea Cast from Harvard Business Review.
0:40.0	I'm Allison Beard.
0:42.0	A few years ago, I noticed a weird thing.
0:51.0	Crocs, those rubbery boat shoes that you used to see mostly on little kids,
0:56.0	were suddenly extremely popular with teenagers.
0:59.0	My kids, middle and high school friends were all wearing them everywhere
1:02.0	and lots of styles and colors with socks and without.
1:05.0	Then, earlier this year, the same thing happened with a different product.
1:09.0	Stanley insulated mugs.
1:12.0	This was a brand I knew from growing up.
1:14.0	They made bottles that you usually brought outdoors.
1:17.0	But now my 13-year-old daughter's entire city and suburban crew was buying the quencher,
1:22.0	a 30-ounce mug with a big handle and straw in different pastel shades and carrying them around.
1:27.0	Almost like trophies.
1:29.0	I began to wonder how to consumer goods like these suddenly move from under the radar
1:34.0	or even uncool to totally trendy.
	...

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