A brand is forever ! A framework for revitalizing declining and dead brands.

On..

lining and

dead brand

A brand is forever! A framework for revitalizing declining and dead brands

What is rivival of a dead brand?

Afer 21 years and sells of 7 million car Fourd's giving up. Launched in1985, Ford's Taurus quickly became one of the company's top selling models for 3 years in a row, the Taurus held the enviable recourd of being the best selling car in united states due to tough competition with japenese brands - the Honda Accord and the Toyota camry weaken the brand. When they decided to pull the plug on 2006.

Revival of Ford's Taurus

What is decline and death of brand?

Causes of brand decline

It is based on the theory of brand evolution

Product life cycle (PLC) framework

It identifies 4 stages 1. Introduction2. Growth3. Maturity4. Decline

Product evolutionary cycle (PEC)

It identifies 3 forces 1. Generative2. Selective3.Mediative

Managerial action

Brands decline because of leadership,management and employees making excuses rather than acting with integrity

Actions can be classified into 5 categories

1.

Product quality

Price increase

2.

Price cut

3.

4.

Brand neglect

5.Inability

to stay with target market

Enviroment factor can undergo major transformation,which in turn have an impact on the various companies in an industries and their brands.

Environmental factors

Polaroid

Polaroid with its unique product offering quickly gained prominence.But the company bankrupt as the enviroment changes and the digital imaging became popular.

Competitive actions

A brand faces relentless onslaught from its competitors.This can become problematic if competitors have deep pockets

How to deconstruct brand decline?

The ultimate sign of impending brand death is a significant drop in unit sales over a substained period.

Differential effect

Consumers must be provided with a compelling argument as to why should choose a particular brand from a wide variety of alternatives available to them

Brand knowledge1. Brand awareness2. Brand image

Brand image - Levi's

Levi's is facing image problem. Once a market leader in its category, the brand was synonymous with high quality denim jeans. Over the year brand began to lose its image. Levi's failed to follow fashion as stuck to its classic image. In mid 1990s Levi's sales started declining sharply. Company decided to sell its signature brand through Wal-Mart prices this pushed image further down.

Consumers response

consumers responseis taken via standard questions which are included in the survey panels.

Revitalizing brands

Brand equity is often the single most vuluable asset for company.

Is the brands worth reviving?

Brand may be worth reviving if there is significant residual value in one or more of the components of brand equity

Take a long term perspective

Most brand take a long time to build, and a long time time to die. Reviving a brand is long term initiative take more than 2 year

Correct mismanagement of the brand

Managerial actions are the most common cause of brand decline

Rebuilt equity

Harley-devidson used japanese management principles to improve quality, extended its product around

Resist temptation to "milk" the brand

If the brand is to revived, management must invest in the brandConsider APPLE , which by the turn of century has positive image but losing top of awareness after struggle in pc market. Company made significant investment in mp3 player technology and launched ipod.The sleek design of ipod strunk the chord and the brand name came to forefront once more.

Let the revitalization begin !

Manager needs to constantly watch for signs of brand decline, in form of problem with brand knowledge brand differentiation, and customer response.

Created by- Shruti Bansal

UIT-RGPV, Bhopal

during an internship with Prof. Sameer Mathur, IIM Lucknowwww.IIMInternship.com