Quick Exercise – Do you know your brand ? Olympics Organization
WHAT IS A BRAND? Identity of a product, service or business SYMBOL NAME COMBINATION COLOR SLOGAN
Product & Brand Life Cycle Brand What if the BRAND is declining ? Product
Product evolutionary cycle (PEC) BRAND can evolve and is not pre-destined to die!
Managerial actions Lull management into complacency Compromises for cost- cutting reasons Do not live up with customers’ expectation Raise price without corresponding increase in benefit Cut prices to increase sales = use cheaper material Neglect to invest in cash cow phase Less attention to strong brand Reach out to new segment-alienate core customers
Repercussion of Competition Product Line Extension Price Change These Quick Fix is not effective over long-run!! How to deconstruct the brand ??
Differential Effects - Perceiving Consumer Superior Quality 1 Price Advantage 2 ‘‘Brands must offer something different; they can’t just be another flavour of vanilla’’
Consumers Brand Knowledge
Consumers Response Consumer responses can be measured by 1 2 Brand Switching Triggers
New Competition product
Brand Negative News
Long term plans are necessary to avoid brand switch activities.
Revitalizing brands brand decline- brand death- brand demise- brand revival- brand equity 1 FACTS * Neither the lifespan of a brand, nor its ultimate destiny, is Predetermined! * Brand decline is a reversible process *More attractive strategy than launching a new brand! Brand Revival Keys
Brand Equity – Key!
Premium in the past
Singular focus & well defined differentiation
Brand life vision
Revitalizing the Brand Long Term perspective & Repositioning 2 Brand Re - make up
Educate the target market
Correct brand Management
Pursue defined target market
Revitalization Do it! BRAND REVIVAL IS POSSIBLE IF…. Brands with high levels of awareness or positive brand image are candidates for revival BEWARE!! watch for signs of brand decline……