1. Chapter 14: Brands Over Time

2. Contents The importance of managing brands over a period of time Brand growth challenges – brand reinforcement Sustaining a brand long term – brand revitalization Brand turnaround

3. Introduction A brand once launched needs to be carefully managed and nurtured, not only during the initial stages of a brand launch, but over the period of time also. If an organization is like a garden, then brands are like plants that have been planted there. Just like plants need constant watering, weeding, and pruning, the brands need to be constantly monitored for changes in the external and internal environment. Any weakness or threat needs to be attended to and every strength and opportunity needs to be exploited to the hilt. As time passes, the need for managing the brands increases as the consumers’ tastes and preferences are changing and the brand has to satisfy these needs and wants to sustain itself in the market.

4. Managing Brands over Time One of the most important issues facing brand managers is how to revitalize the brand and keep it relevant and current. Honest and rigorous dedication is required to build strong brands.

5. Brand challenges Quality aspect Changing consumer trends Introducing technologically advanced products Growing number of private labels or the retailers own labels Brands becoming generic Lack of effective and consistent communication Keeping the brand young

6. Reinforcing brands Brand vision Brand marketing strategies and tactics Consumer response to marketing activities Consumer’s brand attitude and brand knowledge Brand awareness New marketing activities Brands reinforced in the mind of the consumer set Brand image

7. Brand revitaliz- ation Brand’s current portfolio, strategy, awareness and image Building the current brand awareness and image Increasing brand depth and breadth to enhance current brand’s usage Reinforce positive brand attitude by reminding factors leading to strong brand equity Change negative brand knowledge and attitude by repositioning Managing brand architecture Create new brand associatio ns Increase quantity of brand consumed Increase frequency of brand consumed Extending Brand Line extension Category extension Horizontal extension Vertical extension Upscale Downscale Category related Image related Unrelated Brand Revitalized with a portfolio that is current and relevant for the consumers Managing current brand portfolioLaunch new brands/ Add brands to the portfolio Rationalizing brand portfolio Other Rejuvenating strategies

8. Brand turnaround – Other rejuvenating strategies Product innovations Re-launching the brand Repositioning the brand New uses of the brand Distribution changes Multiple placements on shelves in shop floor Effective communciation

9. Quick Recapitulation The importance of managing brands over a period of time Brand growth challenges – brand reinforcement Sustaining a brand long term – brand revitalization Brand turnaround

10. Questions?