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. 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 decreasing 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.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Brands
- The definition of brands
- Brand equity
- Brand identity
- Brand strategies
- Positioning of brands
- Brand Relaunch
- Causes for repositioning brands
- Brand identity within a relaunch process
- Comparing the launching of a new product to reintroducing an existing one
- The advantages of a relaunch
- Management activities
- The Marketing Mix
- Relaunching brands within an integrated Marketing Mix
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper focuses on the process of brand revival, analyzing how companies can strategically reposition existing brands to overcome challenges and regain market share. The paper highlights the importance of clear brand strategies in today's rapidly changing market landscape and explores the advantages of relaunching existing brands over introducing entirely new products. Here are some key themes explored in the paper:- Brand definition, equity, and identity
- The importance of brand positioning and strategy
- The reasons behind brand relaunches and the challenges involved
- The advantages of relaunching brands compared to introducing new products
- The role of the marketing mix in successful brand relaunches
Zusammenfassung der Kapitel (Chapter Summaries)
Introduction
The introduction highlights the need for companies to define clear brand strategies in a rapidly changing market environment. It emphasizes the importance of brand recognition in today's free market economy and discusses the challenges brands can face due to changing trends, decreasing marketing expenditures, and a declining brand image, ultimately leading to a lack of demand. The paper explores the option of relaunching existing brands as a viable alternative to introducing new products, especially considering the high failure rate of new product launches.Brands
This chapter provides an overview of key aspects regarding brands, particularly addressing the common misconception between brands and products. The chapter explains the concept of product life cycles and how brands can endure through new product generations. It then delves into the definition of brands, emphasizing their role in differentiating products from competitors.Brand Equity
This chapter explores the concept of brand equity, defined as the impact of consumer knowledge on their response to marketing efforts. It emphasizes the importance of brand awareness and image in building brand equity. Familiar brands like Coca-Cola are used as examples of brands that have established strong equity over time.Brand Identity
This chapter explores the brand identity approach, which views brands as personalities with unique attributes that need to be effectively communicated. It highlights the importance of understanding and managing a brand's identity to build a strong brand image in the consumer's mind. The chapter also examines the relationship between brand identity and brand image, emphasizing the need for a clear and consistent brand identity to drive positive brand image perceptions.Brand Strategies
This chapter focuses on brand positioning strategies, explaining the need to differentiate brands based on their target audience and competitive landscape. It introduces the concept of strategic positioning, emphasizing the importance of understanding the brand's desired perception relative to its competitors and the market.Brand Relaunch
This chapter delves into the concept of brand relaunches, exploring the reasons behind repositioning existing brands. It discusses the importance of managing brand identity during the relaunch process to ensure consistency and reinforce brand messaging. The chapter compares the challenges and benefits of launching a new product versus reintroducing an existing one, highlighting the advantages of brand relaunches.Management Activities
This chapter likely focuses on the various management activities involved in brand revival, such as market research, competitive analysis, and consumer engagement strategies. It might explore the role of leadership in driving brand revival efforts and the importance of aligning internal teams towards achieving brand objectives.The Marketing Mix
This chapter likely explores the application of the marketing mix in brand relaunches, focusing on how different marketing elements like product, price, promotion, and place can be integrated to support the relaunch strategy. It might examine the use of integrated marketing communication tools to reach the target audience effectively.Conclusion
This section of the paper is excluded to avoid revealing major conclusions or spoilers.Schlüsselwörter (Keywords)
The paper focuses on the concept of brand revival, exploring the key themes of brand definition, equity, and identity, as well as the importance of brand positioning and strategic relaunches. It analyzes the challenges and advantages of relaunching existing brands compared to introducing new products and the role of the marketing mix in successful brand revival efforts. Key terms and concepts covered include brand equity, brand identity, brand positioning, relaunch strategies, and integrated marketing mix.
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- Anonym (Author), 2011, Brand Revival - An Overview, Munich, GRIN Verlag, https://www.grin.com/document/190092
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