Reviving Dead and Declining Brands
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Analysing the conditions that lead to brand decline, highlighting the signs that indicate impeding decline and assessing the viability of reviving a rand
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Reviving Dead and Declining Brands
- 1. A BRAND IS FOREVER A framework for revitalising dead and declining brands
- 2. Branding has been used since time immemorial to distinguish between products and services
- 3. A few strong brands....
- 4. Few others that faded away into oblivion...
- 5. Numerous brands have met with gradual decline and death Managers must foresee the signs of Brand Decline and adopt approaches to revive the brand
- 6. • Popular post World War II for unique designs and engineering • Tough competition from smaller Japanese motorcycles in the 1970s • Countered this by introducing smaller vehicles • These were perceived to be of low quality The case of Harley Davidson
- 7. Recognising its weaknesses, Harley Davidson invested in quality and styling
- 8. And Voila! Today, it is one of the most recognised brands worldwide Recognising its weaknesses, Harley Davidson invested in quality and styling
- 9. Brand decline is reversible
- 10. Brand decline is reversible Reviving brands is more profitable and less risky than launching a new brand
- 11. (PLC)
- 12. PEC Generative force - Managerial activities Mediative forces - Competitors’ response to marketing initiatives Selective forces - Market Environment Product Evolutionary Cycle (PEC)
- 13. CAUSES OF BRAND DECLINE Managerial actions Environmental factors Competitive actions
- 14. Managerial actions Product Quality Price increase Price Cuts Brand Neglect Inability to stay with target market
- 15. I. Product Quality Cadillac’s steady decline over two decades was due to compromises in product quality
- 16. II. Price Increase Tata Sierra: Too steeply priced at 5 Lakhs
- 17. III. Price Cuts Lacoste’s price cuts in response to falling demand proved to be disastrous Lower prices Cheaper Quality Material Lower Brand Image
- 18. IV. Brand Neglect Nutritional product Ovaltine acquired by Sandoz in 1992 Neglected as it was not seen as a core brand of Sandoz
- 19. V. Inability to stay with target market GAP’s shift of focus to the younger audience alienated its core customers, in the 1990s
- 20. CAUSES OF BRAND DECLINE Managerial actions Environmental factors Competitive actions
- 21. Environmental Factors Polaroid went bankrupt with the advent of digital imaging
- 22. CAUSES OF BRAND DECLINE Managerial actions Environmental factors Competitive actions
- 23. Competitive actions Adidas declined in the face of intense competition from Nike
- 24. HOW TO DECONSTRUCT BRAND DECLINE
- 25. Brand Equity is defined as “the differential effect that consumer brand knowledge has on the customers’ response to marketing activity”
- 26. Three key elements of brand equity Differential effect Decline in brand knowledge Customer response
- 27. Change in one or more of these can signal a brand’s impending decline
- 28. Differential effect Provide consumers with a compelling argument on why they should choose a particular brand What makes the brand DIFFERENT from the rest?
- 29. Brand Knowledge Brand Awareness Brand Image
- 30. Customer Response Decline is preceded by consumer brand switching behaviour
- 31. Revitalising brands With proper diagnosis, strategy and execution, a brand can be revived
- 32. Is the brand worth reviving? This entails examining all three elements of brand equity
- 33. While most brands can be revived, some may not be worth the effort Pan Am was driven to death as a result of negative image in the aftermath of the Lockerbie bombing incident
- 34. Brand revitalization can be kick-started by addressing: The causes of the decline Understanding the brand’s promise and why it may have failed to deliver
- 35. Carefully reposition the brand, invest in it, and educate the market
- 37. Resist temptation to milk the brand Apple introduced the iPod at just the right time, launching itself to the forefront after a lull
- 38. Pursue a carefully defined target market Levis leveraged its brand name to promote its new line of business clothing. Once established, Levis removed its name and Dockers became a stand- alone brand.
- 39. • Managers need to identify signs of brand decline • Managerial actions, environmental factors and competitive actions contribute to brand decline • Brand decline is reversible • Brand revitalisation entails careful repositioning of the brand, investment and educating the market
- 40. Disclaimer: These slides were created by Anju Joseph, MEC Kochi, as part of an internship done under the guidance of Prof. Sameer Mathur, IIM Lucknow (www.IIMInternship.com)