Chapter_15 (1).pptx,Brand Revitalization

Brand Revitalization

1. Brand Revitalization Dr. Tapan K. Panda

2. At the end of this chapter you will be able to understand: Why brands decline over a period of time What factors play a role in brand decline? What are the managerial mistakes for which brands decline? What external factors cause a brand to decline? Why should you revitalize a brand? What are the various strategies of brand revival?

3. Structure of the Chapter Introduction Matured Brand Situations for Brand Revitalization Causes of Brand Decline Elements of Brand Decline Ghost Brands Brand Delineation Process Brand Revitalization Strategy Expand Brand Awareness and Brand Usage Improve Brand Image and Uniqueness Manage Existing Customer Choice Process Manage How Customers Use Matured Brands Manage Product Offerings Conclusion Questions

4. Introduction:

5. Matured Brand: Sales Dimension Stagnant or declining sales and sales velocity Wide distribution network Ability to generate tradesman profit Brand slowly losing loyal customer base Price Dimension Moderate to premium priced Under advertised and promoted Competitive response is mostly through price changes Technology and Investment Dimension Outdated technology Less Frequent product quality up gradation or no up gradation Quality being compromised for market distribution Sustenance of resources and less focus of management on sales and marketing activities Brand Dimension Loss of brand awareness Loss of uniqueness in brand association Reduction on points of differentiation and increase in points of parity with competitive brand Long held brand heritage   Symptoms of Matured Brands

6. Situations for Brand Revitalization: Technological Obsolescence Narrowing of Brand Awareness Competitive Pressure New Market Entry Continued Focus on the target market Regaining lost customer Stagnant Brand Growth

7. Causes of Brand Decline: Brand Stature Managerial Actions (Generative Forces) Competitive Actions (Meditative Forces) Marketing Environment (Selective Forces) Forced Responsible for Brand Decline Managerial Actions Environmental Factors Competitive Forces

8. Elements of Brand Decline: Brand Decline Brand Differentiation Consumer Response Brand Knowledge

9. Ghost Brands:   Ghost Brands Kill Them (Brand Delineation) Revitalize them Sell them Milk Them

10. Brand Delineation Process: Benefits of Brand Deletion Prudent distribution of available scarce resources Focused approach on budgeting Control on Opportunity Cost Minimizing complex managerial problems Creation of physical, financial and managerial resources to exploit new product opportunities Simplification of marketing communication Simplification of production process Streamlining selling procedure, cutting the cost of small order quantity distribution Creating warehouse space for quick delivery of key brands Transfer marketing and advertising funds to key brands in the portfolio Initiate the new brand development and launch process Simplify brand positioning in the portfolio

11. Brand Delineation Process: Steps in Brand Deletion Process

12. Brand Revitalization Strategy: Brand Revitalization Strategies Expanding Brand Awareness and Usage of Brand Improving Brand Image and Uniqueness of the Brand Managing how Existing Users choose Mature Brands Managing how Consumers Use Mature Brands Managing Product Offering

13. Expand Brand Awareness and Brand Usage: Increase the level and quantity of consumption Increase the frequency of consumption Identifying additional or new usage opportunities Identifying new and completely different ways to use the brand Improve Brand Image and Brand Uniqueness: Change the brand image Multiple marketing communications Attracting new segments Identifying Neglected Segments Recapturing Lost Customers Bringing equilibrium between new and old markets

14. Managing Existing Customers Choice process for Mature Brands: Ensuring Favorable Comparison with competing brands Ensuring proper distribution Multiple Self Placements Access to new distribution channel Managing How Consumers Use Mature Brands: Increase Package Size Launch brands and sub-brands Reduce Price Perception of Customers

15. Managing Product Offering: Technology Innovation Broadening Product Range

16. Conclusion

17. Questions What are symptoms of a brand decline? Explain at least three indicators of brand decline ? What market conditions make brands to decline? Give five examples of market situations which starts a brand decline process? How is Indian hair oil market structured? How are traditional brands surviving for so long? What kinds of trust people have on ayurvedic product and how this category trust has played a role in building brands which have withstood taste of time? Navaratna hair oil changed its value proposition and became an instant success in Indian market. Write a short note on re-positioning of hair oil brands in Indian market.