Successfully Creating Value in Response to New Trends

Image: Ben & Jerry's

Corporate Challenge: Traditional companies are experiencing sales declines as new competitors are popping up and meeting the demands from new trends. Although some trends ultimately turnout to be popular fads, a company that ignores trends runs the risk of ruin. The brands reputation is at risk when new trends
gain traction.
 
Ironbound Strategy: Staying ahead of the curve, generative thinking, with innovation is a critical element of customer value creation. By creating value for customers, employees, and society; a powerful brand is able to respond and adapt faster than one focused purely on profits. Growth costs money and involves risks, which is why taking small incremental steps into an adjacent market trend is the safest way to initiate entry.
 
Ironbound Action: Haight Ashbury in San Francisco is known as the birthplace for the 1960s Cultural Revolution in America. At the heart of Ben & Jerry’s mission is to make the world a better place. This social mission most likely explains why Ben & Jerry’s is one of the very few franchise organizations successful in this cultural epicenter. Naturally when there’s a cultural revolution in consumer trends, Ben & Jerry’s has to act fast. In response to the growing number of consumers shifting towards non-dairy lifestyles, Ben & Jerry’s announced it is now offering new and exciting non-dairy Vegan Certified flavors. Companies like Ben & Jerry’s are able to stay ahead of the curve with new trends, because their core values aim to create linked prosperity for their customers, employees, and society.