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.
Table of Contents
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
Objectives and Topics
This paper examines the strategic necessity and management processes involved in reviving existing brands within a competitive market environment. It explores how companies can counteract declining market performance by repositioning brands rather than exclusively focusing on new product launches, thereby leveraging existing brand equity and recognition.
- Theoretical foundations of brand identity and equity.
- Strategic importance of brand positioning and market dynamics.
- Causes and management activities involved in brand relaunch processes.
- Comparison between new product launches and brand reintroductions.
- Implementation of relaunch strategies through an integrated Marketing Mix.
Excerpt from the Book
4.1 Causes for repositioning brands
In today’s competitive environment where organisations are fighting for market share, different marketers look for different strategies for essentially capturing the same, but at the same time only few succeed. In this case and regarding other possible causes, different marketers’ start raising questions concerning possible business strategies and one of them is relaunching products.
There are various causes companies can be faced with: Managerial actions: Loss of an independent positioning on the market due to mistakes made along by the brand management i.e. if a company increases the prices of the product without offering an additional benefit to the customer. Loss of customer potential. Increase in activities of competitors. Environmental factors: i.e cigarette brands in the US have been affected by the changes in the legal environment. The cigarette industry is facing a raising number of regulations and negative publicity. Lack of brand identity.
If a brand loses some of its market shares, management has to decide whether to phase it out, to reintroduce it or to launch a new brand. Possible reasons for phasing out a brand can be that the management cannot see any future potential in spending money on further actions. If potential still exists management will attempt to influence the brand value by relaunching the brand.
Summary of Chapters
1 Introduction: Provides an overview of the fast-changing market situation and the strategic importance of brand management and potential brand revivals.
2 Brands: Defines fundamental concepts including brand equity, brand identity, and the typical product life-cycle.
3 Brand strategies: Analyzes the necessities of brand positioning as a competitive tool for organizations.
4 Brand Relaunch: Explores the motivations, strategic options, and the specific advantages of reintroducing existing brands over new product launches.
5 Management activities: Details the structured process of brand revival, including SWOT analysis and key management questions for successful implementation.
6 The Marketing Mix: Discusses the integration of the four traditional marketing instruments to effectively execute and communicate a brand relaunch.
7 Conclusion: Summarizes the trade-offs between launching new brands and reviving established ones, emphasizing the importance of long-term brand equity.
Keywords
Brand Revival, Brand Management, Brand Equity, Brand Identity, Positioning, Marketing Mix, Relaunch, Market Share, Competitive Strategy, Consumer Perception, Brand Recognition, SWOT Analysis, Product Life-Cycle.
Frequently Asked Questions
What is the core focus of this publication?
This paper examines the strategic rationale and management methodologies behind "Brand Revival," analyzing how firms can revitalize underperforming brands.
What are the primary themes discussed in the work?
Key themes include brand identity, the importance of brand equity, strategic positioning, the dynamics of market competition, and the application of the Marketing Mix in relaunch scenarios.
What is the central research question addressed by the author?
The work investigates why brands face difficulties over time and identifies under what circumstances a brand relaunch is a more viable strategic option compared to launching a new product.
Which scientific methods are utilized to approach the subject?
The author uses a theoretical approach based on existing literature, comparative analysis of brand strategies, and practical application models like the SWOT analysis.
What content is covered in the main body of the text?
The main body moves from theoretical definitions of brand assets to the practicalities of the relaunch process, including management steps, marketing instrument adjustments, and competitive analysis.
Which keywords best characterize this research?
Primary keywords include Brand Revival, Brand Management, Relaunch, Positioning, and Brand Equity.
Why does the author argue that relaunching is often better than a new launch?
The author notes that new product launches have a high failure rate and are costly; thus, leveraging existing brand recognition through a relaunch is often more efficient.
How is the Jägermeister case used in the book?
Jägermeister is cited as an example of maintaining core recognizable brand elements while utilizing modern advertising to effectively reach younger target groups.
- Arbeit zitieren
- Anonym (Autor:in), 2011, Brand Revival - An Overview, München, GRIN Verlag, https://www.hausarbeiten.de/document/190092
