While your brand may resonate today with consumers, you may find tomorrow’s competition is forcing a change/upgrade. Examples of product changes:
– Reformulation/change in ingredients
– Price change
– Packaging Change (graphics/type of packaging material)
– Upgraded applications
The secret however to continued growth and consumer acceptance is NEVER to do two or more major changes. Prioritize and keep it to ONE strategic change at a time and patiently execute.
He that can have patience can have what he will.
It is basic consumer behaviour. Consumers will not relate to a product/brand that makes too many immediate changes. Avoid Brand Shock!
A similar term used in Retail Merchandising is called Sticker Shock (drastic change in retail eg $0.99 to $2.99). Avoiding Sticker Shock is done via incrementally adjusting retails (over several weeks/months) so consumers don’t faint at the immediate change and switch products*.
Likewise, protect your brand with steady, strategic changes.
*There are some situations where the market forces commodity products to make sudden retail changes (and all competition make the change as well) so this would be a moot point.