When I think about what makes a brand work I realize that capturing the attention of a specific audience through design, reputation, and emotion are all strong aspects of what breaths life into our creation, but without brand evolution there is a chance it will not survive.

Just as the best hitters of the Major League try new batting stances to bring a better approach to the plate (and to hopefully produce better results) brands should continue to evolve to be effective over time.

Does that mean that a staple design and brand be completely disassembled after a few years, not really, but it may depend on the survival of your product. Overall, re-developing a brand will be always be a way to reach the current clientele who have supported your product, to keep them interested in your changes and progress.  I also believe it shows them you’re your product is still relevant and that you are still looking to bring something new to the table. Sparking interest and possible longevity.

Companies like McDonalds (an example of taking this concept to the maximum, with an almost unlimited marketing budget) will constantly reprise their brand, logo, slogans, and even the renovation of their restaurants to adjust to the current market or a specific group within the market. Of course they have an unlimited market, but they are a company who see the value in adjusting their brand to produce profit and target untapped markets with updated campaigns.

(Example of how the Coca-Cola Company has continued to prosper throughout the years by re-inventing and updating its brand.)

From personal experience, and working for the T. Rowe Price group, they felt it was imperative to update their brand and logo identity once the 2008 recession was on a decline and headed in the right direction. Beginning in mid-2012 they started to change the color scheme, feel and presence of the company so it gave the client the impression of a solid organization/reputation, which had a straightforward approach to serving their clients needs. A very clean, straightforward approach in a time where consumers didn't feel comfortable about their finances, particularly when dealing with financial institutions.

T.Rowe Price site set to New Brand

As noted on the site peopledesign.com

Certain graphic elements age better than others. Companies pin the fate of their illustrative logos on the longevity of the particular drawing style they chose. Typefaces are increasingly susceptible to looking dated, which may account for some degree of graphic identity reinvention. Like hairstyles and clothing, certain graphic embellishments go out of fashion as quickly as they come into favor.