Brand Revival - An Overview


Term Paper, 2011

15 Pages, Grade: 2,0

Anonymous


Excerpt

Content

1 Introduction

2 Brands
2.1 The definition of brands
2.2 Brand equity
2.3 Brand identity

3 Brand strategies
3.1 Positioning of brands

4 Brand Relaunch
4.1 Causes for repositioning brands
4.2 Brand identity within a relaunch process
4.3 Comparing the launching of a new product to reintroducing an existing one
4.3.1 The advantages of a relaunch

5 Management activities

6 The Marketing Mix
6.1 Relaunching brands within an integrated Marketing Mix

7 Conclusion

Bibliography

Literature

Articles

1 Introduction

Due to a very fast changing market situation it is crucial for companies to define clear brand strategies. Brand concepts are playing an ever more important role in today’s free market economy. Creating brand recognition is one of the major objectives of an entrepreneurial venture.1 Brand strength and the associated image along with the brand are therefore dependent on further brand management decisions strategies.

This paper deals with, along with the brand meaning and brand attributes, how brands can be faced with difficulties over a period of time i.e. because of missing certain trends or decreas- ing marketing expenditure and how the brand image suffers and why a lack of demand will thereby follow. Relaunching an existing brand is one strategy option next to launching new brands. Since around 80% to 95% of new product launches fail it is a viable option.2

2 Brands

In order to start this paper it is necessary to provide a general overview of key aspects regarding brands also especially as the concept of a brand and a product is often misunderstood by many involved in the marketing process. As shown in the figure 1 below products typically have a life-cycle. Brands, however, can effectively endure through new product generations and do not necessarily have to be replaced.3

illustration not visible in this excerpt

Figure 1: Stages within the Product-Life Cycle

2.1 The definition of brands

The literature around brands clearly reveals differing views regarding the definition of brands According to the American Marketing Association,”a brand is a name, term, symbol, sign, design, or some combination thereof that identifies the products of one firm while differentiating them from competitors’ offerings”.4

2.2 Brand equity

Today the strengthens of a brand lies in the equity with its customers and over the years a more customer-based brand equity framework has been developed. Brand equity is defined as “the differential effect that consumer knowledge about a brand has on the customer’s response to marketing activity” and “consumer brand knowledge can be characterized in terms of brand awareness and brand image dimensions”5 Some familiar brands, like Coca-Cola, have demonstrated brand equity already over a long period of time.6

2.3 Brand identity

One approach towards the context of brand equity is the so-called brand identity approach.

illustration not visible in this excerpt

Figure 2: Identity and Image (Kapferer (2008) p. 174)

In order for the management team to make sound marketing decisions it is necessary to thor- oughly consider the brand’s identity. This brand approach compares a brand to a personality and attributes an identity to a brand which has to be suitably conveyed by the brand manage- ment team. Its purpose is to specify the tangible and intangible aspects of a brand to construct a brand identity.7 Its major objective is to create a brand image within the mind of the con- sumer. Kapferer believes that “in terms of brand management, identity precedes image”.8

3 Brand strategies

In order to analyse strategies it is necessary to differentiate between the possible options. Assuming that a company’s product is no longer successful, the organisation is forced to find possible future strategies. It is necessary to analyse the general meaning of a brand positioning before introducing a new brand on the market or repositioning an existing one.

3.1 Positioning of brands

An essential tool for brand management is the brand positioning strategy. It is common to differentiate brands according to their positioning. Since brand identity expresses the unique- ness of a product, the positioning strategy refers to the competitive aspect of a brand. Accord- ing to Aaker “strategic position, […] specifies how the business aspires to be perceived […] relative to its competitors and market”.9 As well as clearly defined brand identity, it is neces- sary to establish expert knowledge about the buying public and about its competitors. In order to develop positioning strategies, it is helpful to determine the image and the brand identity of its major competitors regarding their advertising or pricing strategies to name just a few.10

In order to access the target market, it is crucial for organisations to set their products apart from those of their competitors to gain market share. Kapferer sums up four main questions: For whom, why, when and against whom?11 An organisation’s major objective is to adapt to the requirements and the needs of the buyers. The adaption is not only a reaction to the needs of the consumers; it is moreover to gage the potential requirements the buyers will have in the future.12 There can be issue-related matters such as design, price or quality as well as emo- tional driven matters such as health awareness or the intermediation of adventures.13

If the market is saturated the product needs a Unique Selling Proposition in order to stand out from other products on the market. However, many companies and brand management deci- sions are solely based on determining unique product features, which does not automatically mean that the new product will be a success on the market. Due to saturated markets there is a plethora of similar products, therefore, to solely focus on varying product features would be highly ineffective. It would be more useful to consider possible advantages from a consumer’s point of view.14

4 Brand Relaunch

The term Relaunch is defined taking various perspectives into account.

Due to a fast changing market economy, it is essential to view the positioning strategy as a dynamic process. It is not only seen as one task, but as a continuous process.15 In this context this dynamic development can also be seen as a way to reposition brands. Thus relaunching is not seen as a strategic option, it is moreover viewed as one component of the whole position- ing strategy.16

[...]


1 cf Bellmann (2005) p. 218

2 cf Esch, Wicke, Rempel (2005), p. 8

3 cf Bellmann (2005) p. 216

4 Bellmann (2005) p. 216

5 Keller (1999) in Thomas/Kohli (2009) p. 378

6 cf Thomas/Koli (2009) p. 378

7 cf Kapferer (2008), p. 178

8 Kapferer (2008), p. 174

9 Aaker (2001), p. 192 4

10 cf Aaker (2001), p. 64

11 cf Kapferer (2008), p. 180

12 cf Gaiser (2005), p. 48

13 cf Esch, Wicke, Rempel (2005), p. 20 ff

14 cf Gaiser (2005), p. 50

15 cf Gaiser (2005), p. 48 ff

16 cf Feddersen (2010), p. 30 ff 5

Excerpt out of 15 pages

Details

Title
Brand Revival - An Overview
College
University of Applied Sciences Essen
Course
Marketing
Grade
2,0
Year
2011
Pages
15
Catalog Number
V190092
ISBN (eBook)
9783656145769
ISBN (Book)
9783656146070
File size
471 KB
Language
English
Tags
brand, revival, overview
Quote paper
Anonymous, 2011, Brand Revival - An Overview, Munich, GRIN Verlag, https://www.grin.com/document/190092

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