Brand Revitalization is the strategy employed when a brand has reached its maturity and profits begin to decline. Revitalization may include one or all of market expansion, product modification or brand repositioning. A major overhaul of a brand, starting with its positioning and proceeding through creative regeneration of the brand identity is brand revitalization (Gallagher & Savard).
The Purpose of the study is to understand brand revitalization, brand rejuvenation and rebranding. The project aims at creating an objective differentiation of these 3 concepts and studying these strategies through examples in the industry. It will be interesting to observe the strategies used by companies to rebuild the brand identity without compromising on their core essence and core values. Also, the impact of these decisions on the brand personality and the consequent impact on the customer perception are worth understanding.
Study Objectives
Brand Revitalization adds significantly to a company’s long-term success. As mentioned before -A major overhaul of a brand, starting with it’s positioning and proceeding through creative regeneration of the brand identity is brand revitalization. Following are the major objectives of the study: -
• Why Brand Revitalization? Some of the reasons for the brand revitalization include relevance, competition, globalization etc.
• Differentiate Brand Revitalization, Rejuvenation and Rebranding
• Understanding different aspect of brand revitalization
When an entrepreneur is associated with the brand or the brand name is under the professional names its called personal branding. Personal branding is good as the values of a professional is linked with the brand and represents The Bodyshop after an impactful success faced certain challenges and negative public propaganda, which led the CEO of the company to restructure the policies and cater the issues first. The company was under economical and financial pressure in the 1990’s which forced them to take restrictive measures and face tremendous loss. Table 1 shows the turnover and profit over the years; it established till it started reviving in 2005.
Introduction Being the very first generation of sport drink, Lucozade originated in 1927 and used to be a kind of drink that can provide energy for people who had general illness. It was re-positioned in 1982(Brand Republic, 2005) and it has become the leader of sport drink market in UK since the brand was changed to Lucozade Sport in 1990 even there existed a intense competition(Brand Republic, 2005). Besides the normal operation, the company of Lucozade is also pay a close attention to its social responsibility. According to Lucozade (2015), The company not only set YES Foundation which aims to support both teams and individuals but also joined many charity programs, for instance: Cash for Kids, The Sir Bobby Robson Foundation and Birmingham
Conclusions From analyzing RadioShack's brand struggle, a few important managerial lessons should be addressed: The importance of brand equity measurement, balancing new and old customer segments, and brand strategy alignment. Brand Equity Measurement: The main problem regarding RadioShack's 2014 new branding strategies (e.g. Fix it Stations, RadioShack Labs, focusing on its original brand identity) was not solely brand implementation. Essentially, RadioShack's marketing managers and top management failed to recognize problems with brand equity early on. The process of "Building-Implementing-Measuring" had not occurred, because the company rushed to implement new strategies without determining the brand equity, carrying the implicit assumption
campaign to convince architects, builders, engineers to design multi- story office blocks using steel rather than concrete for the structural frame of buildings. Product diversification involves addition of new products to existing products either being manufactured or being marketed. Expansion of the existing product line with related products is one such method adopted by many businesses. Adding tooth brushes to tooth paste or tooth powders or mouthwash under the same brand or under different brands aimed at different segments is one way of diversification. These are either brand extensions or product extensions to increase the volume of sales and the number of customers.
Restyling can be used both within the frame of the work to re-brand trademark, and as a separate measure aimed to modify design in order to make it more natural and understandable for specific audience. Clorox One of example of such work can be seen in restyling of design concept for trademarks of Clorox company, Tilex and 409 brands for the Russian market. Clorox is a well-known American manufacturer of household chemical products, and it is undisputed leader at its domestic market: its products can be found in 4 of 5 American houses. Annual turnover exceeds $45 bln. Clorox sells its products in more than 100 countries worldwide.
Introduction: A brand extension is understood to be using the current brand name for another product to enter in a market, brand extension can be described as new product development strategies that can reduce financial risk by using the name of the brand which already existing to enhance the confidence of the consumer. Example connected with brand extensions are Coca Cola, Pepsi, Nestle, P& G, Uniliver, Fine and etc. Successful brand extensions count on consumers perceived fit, Innovation, concept and Consistency, perceived quality, brand familiarity. For many years researchers tried to find the major factor that affects the brand extension of the firms and how it does affect the business.
Nike’s “Just Do It” Advertising Campaign According to Nike company lore, one of the most famous and easily recognized slogans in advertising history was coined at a 1988 meeting of Nike’s ad agency Wieden and Kennedy and a group of Nike employees. Dan Weiden, speaking admiringly of Nike’s can-do attitude, reportedly said, “You Nike guys, you just do it.” The rest, as they say, is (advertising) history. After stumbling badly against archrival Reebok in the 1980s, Nike rose about as high and fast in the ‘90s as any company can.
Branding is very critical for your company. You want consumers to be able to identify your products and it helps build trust among your consumers, as well as support your advertising. If you brand correctly you should create an emotional connection with the consumer and your brand. Our brand name is Tomorrows’ Golf.
Case in point: The brand might no more speak to item qualities or corporate qualities that are vital to clients; poor administration may have harmed the execution of the organization or items; stronger contenders numerous have surpassed the brand as far as its buyer expectations or piece of the overall industry. Strategies to restore a brand take various structures, for example, update the visual components of the brand, expand brand correspondence, and rebuild the organization to enhance execution. In the article “Brand is forever! Structure for Revitalizing Declining & Dead Brands' by Sunil Thomas & Chiranjeev Kohli says: Over years, brands have met unfavorable ending, for example, Oldsmobile, Pan Am, Woolworth.
Brands are complex offerings that are conceived by organisations but ultimately resides in the consumers mind (De Chernatony, 2010). A brand thus signals to the customers the source of the products and services and protects both the competitor who would attempt to provide products and services that appear similar or identical (Aaker, 2004). Brands provides the basis upon which consumer can identify and bond with a product or service or group of products and services (Weilbacher, 1995). A brand is a specific uniqueness associated with a product or services that enables the consumers connect with it by easy identification through the name, slogan, design, logo, symbols, etc. of the organisation that produces the products or
Burberry, established in 1856 by Thomas Burberry, one of the luxury fashion brands in the world. The first shop opened up in the Haymarket, London, in 1891. Burberry was an independent family-controlled company until 1955, when it was reincorporated. It focusing on beauty, accessories, men, women, kids, all the products offering are strategy in the luxury fashion brand’s marketing mix. HISTORY OF BURBERRY Thomas Burberry, from Basingstoke, Hampshire opened his first store, originally specifying in outdoor clothing.
A selfish person will not be recognized by society, people only think for themselves who are narrow-mind person. Personal branding to build the most important thing is to achieve self-worth while contributing to society. People should have a passion for contributing to society when they have talent. People’s behavior should not only be standing on their own interests, but also treat others passion in order to get the reputation recognition.
“A key to understanding what possessions mean is recognizing that, knowingly or unknowingly, intentionally or unintentionally, we regard our possessions as parts of ourselves”. (Belk 1988 p.139). In the past, people gained identity from the groups in which they belonged to, in the form of family, friends etc. In more recent times, consumers employ consumption to create an ideal self (Wattanasuwan 2005) and one can use these brands to enable him/herself to construct their identity (Shankar and Fitchett 2002). Marketers use this to their advantage by trying to portray value in their products or services in the hope that they are congruent with their consumers values as stated by Schenk & Holman (1980).
Innovative companies started to gradually transform the way they viewed their buyers – from pure consumers into real contributors to the brand development strategy and
Consumer compare the prices of brands. And purchase the product with best outcome in low price but in many cases, consumer can pay more for better results. The product has design which attract the customer and easy to carry. Fashion leaders purchase the product which is more stylish and can satisfy their ego. The brand promotion has unique impact on brand image.