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CHAPTER:13 Managing Brands Over Time

CHAPTER:13 Managing Brands Over Time. Learning Objectives. Understand the important considerations in brand reinforcement Describe the range of brand revitalization options to a company Outline the various strategies to improve brand awareness and brand image

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CHAPTER:13 Managing Brands Over Time

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  1. CHAPTER:13Managing Brands Over Time

  2. Learning Objectives • Understand the important considerations in brand reinforcement • Describe the range of brand revitalization options to a company • Outline the various strategies to improve brand awareness and brand image • Define the key steps in managing a brand crisis

  3. Figure 13.1 - Understanding the Long-Term Effects of Marketing Actions on Brand Equity

  4. Reinforcing Brands

  5. Maintaining Brand Consistency

  6. Protecting Sources of Brand Equity • Unless some the company makes the strategic positioning of the brand less powerful, there is: • Little need to deviate from a successful positioning • Brands should always look for potentially powerful new sources of brand equity • Top priority is to preserve and defend those that already exist • Key sources of brand equity are of enduring value

  7. Fortifying versus Leveraging • Marketers can design marketing programs that mainly try to capitalize on or maximize brand awareness and image • Without its sources of brand equity, the brand itself may not continue to yield valuable benefits

  8. Fine-Tuning the Supporting Marketing Program • Product-related performance associations • Non-product-related imagery associations

  9. To Sum Up… • Reinforcing brand equity requires consistency in the amount and nature of the supporting marketing program for the brand • Product innovation and relevance are paramount in maintaining continuity and expanding the meaning of the brand

  10. Revitalizing Brands

  11. Expanding Brand Awareness

  12. Improving Brand Image

  13. Adjustments to the Brand Portfolio

  14. Figure 13.3 - Brand Reinforcement Strategies

  15. Figure 13.4 - Brand Revitalization Strategies

  16. To Sum Up… • Effective brand management requires taking a long-term view • Dictates proactive strategies designed to maintain and enhance customer-based brand equity over time • Marketers reinforce brand equity by actions that consistently convey the meaning of the brand • Most important consideration in reinforcing brands is consistency in the nature and amount of marketing support

  17. To Sum Up.. • The strategy for reinforcing brand meaning depends on the nature of the brand association • In managing brand equity, managers have to make trade-offs between those marketing activities that: • Fortify the brand and reinforce its meaning, • Attempt to leverage or borrow from its existing brand equity to reap some financial benefit • Revitalizing a brand requires marketers to either recapture lost sources of brand equity or establish new ones

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