Managing Brands Over Time

1
Managing Brands Over Time

• Effective brand management requires taking a
  long-term view of marketing decisions
• Any action that a firm takes as part of its
  marketing program has the potential to change
  consumer knowledge about the brand
• These changes in consumer brand knowledge from
  current marketing activity also will have an
  indirect effect on the success of future
  marketing activities

2
Reinforcing Brand Images

• Brand equity is enhanced by marketing actions
  that consistently convey the meaning of the brand
  to consumers
• What products does it represent? What benefits
  does it supply? What needs does it satisfy?
• How does it make those products superior? What
  strong, favorable, and unique brand associations
  exist in the minds of consumers?

3
Consistency in amount and nature of marketing
support

• Brand Awareness
• What products does the brand represent?
• What benefits does it supply?
• What needs does it satisfy?

Innovation in Product Design, Manufacturing and
Merchandising
Continuity in brand meaning changes in
marketing tactics
BRAND REINFORCEMENT STRATEGIES

• Brand Image
• How does the brand make products superior?
• What strong, favorable, and unique brand
  associations exist in customers minds?

Protecting sources of brand equity
Relevance in User and Usage Imagery
Trading off marketing activities to fortify vs.
leverage brand equity
4
Revitalizing a Fading Brand

• Because of changes in the marketing environment,
  brand equity can be eroded over time.
• Reversing a brands fortunes involves ...
• Recapturing lost sources of brand equity (e.g.,
  Harley-Davidson)
• Identifying and establishing new sources of brand
  equity (e.g., Mountain Dew)
• More revolutionary changes than evolutionary
  changes

5
Revitalization Strategies

• Expand the depth and/or breadth of awareness by
  improving consumer recall and recognition of the
  brand during purchase or consumption settings.
• Improve the strength, favorability, and
  uniqueness of brand associations -- either
  existing or new -- making up the brand image.

6
Expanding Brand Awareness

• Increasing usage
• Increasing the level or quantity of consumption
• Increasing the frequency of consumption
• Identifying new or additional usage opportunities
• Communicate appropriateness of more frequent use
  in current situations
• Reminders to use
• Identifying new and completely different ways to
  use the brand

7
Improving the Brand Image

• Go back to basics and tap into existing sources
  of brand equity (e.g., Harley-Davidson)
• product strategy
• pricing strategy
• channel strategy
• communication strategy
• Create new sources of brand equity (e.g.,
  Mountain Dew)

8
Increase Quantity of Consumption (How Much)
Identify Additional Opportunities to Use Brand in
Same Basic Way
Expand Depth and Breadth of Awareness and Usage
of Brand
Increase Frequency of Consumption (How Often)
Refresh Old Sources of Brand Equity
Identify Completely New and Different Ways to Use
BRAND REVITALIZATION STRATEGIES
Create New Sources of Brand Equity
Retain Vulnerable Customers
Bolster Fading Associations
Improve Strength, Favorability, and Uniqueness
of Brand Associations
Recapture Lost Customers
Neutralize Negative Associations
Identify Neglected Segments
Create New Associations
Attract New Customers