MANAGING BRANDS OVER TIME

Brand management requires a long-term view of marketing decisions as Any action of its marketing program has the potential to change consumer knowledge about the brand Consumer brand knowledge from current (or change in the current) marketing activity has an indirect effect on the success of future marketing activities

STEPS FOR MANAGING BRANDS OVER TIME

1. Reinforcing brands

2. Revitalizing brands

3. Adjusting brand portfolio

Reinforcing Brands

Reinforcing Brands
Brand equity is reinforced by marketing actions that consistently convey the MEANING of the brand to consumers in terms of BRAND AWARENESS and BRAND IMAGE.

Reinforced marketing actions, along with product development, branding strategies etc. also help in keeping the brand meaning in terms of products, benefits and needs as well as in terms of product differentiation intact.

Reinforcing Brands

Maintaining Brand Consistency

Protecting Sources of Brand Equity

Maintain brand consistency

the amount and nature of support necessary to maintain strength and favorability of brand associations.
Invest in R&D (to avoid obsolescence) Marketing and communication programs (to not be out-of-date, irrelevant, forgotten) Adequate budgets to do the above

Maintain brand consistency

Market Leader & Failures
Maintaining customers loyalty through associations Adequate marketing support to level with market expectancy Clever pricing strategy Market leaders complacency and greed results in lost Loyalty because of : marketing support shrinking unrealistic price hikes

VS
SINCE 1970 25% market share SINCE 1992 40% market share

Campina Loss of market share caused by drop in ad and marketing support. while Walls continuously innovate products & marketing support (30 billion /year to promote product)

Maintain brand consistency

Consistency & Change
Consistency - Maintain desired knowledge structure Change - Tactical shifts needed to maintain strategic thrust and direction Price can move up or down Product features can be added and dropped Ad campaigns can have different creative slogans Extensions can be introduced or withdrawn

No need to deviate from a positioning unless there is a change in consumers, competition, or company, that makes it less powerful.

Many brands have kept a key creative element in their marketing communication programs over the years and, as a result, have effectively created some advertising equity Yamaha make changes to advertising slogans. previous slogan was one heart", then changed to semakin di depan and yang lain makin ketinggalan because they want to show yamaha innovation (aspect acceleration).

Protecting Sources of Brand Equity

Key sources of brand value should be enduring, and guarded and nurtured Value of sources get eroded when the brand is expanding to include new associations (product and non-product related) Over time there is change No need to deviate from a positioning unless there is a change in consumers, competition, or company, that makes it less powerful.

VS
There is similarity brand name between ExtraJOSS and EnerJOS that harm Extrajoss

Revitalizing Brands

Revitalizing Brands
Reversing a brands fortunes involves Revitalization
and Reinvention
Recapturing lost sources of brand equity Identifying and establishing new sources of brand equity

Revitalization efforts is possible for brands that have clear, relevant values that have been left dormant for a long time

Revitalizing Brands
Revitalization strategy - tap into existing sources of brand equity product strategy pricing strategy channel strategy communication strategy

Expanding Brand Awareness

Revitalizing Brands

Improving Brand Image

Expanding Brand Awareness

Expand Breadth Increased Usage Quantity (how much consumers use the brand) Difficult to change Function of particular beliefs Exception Impulse Consumption (availability) Frequency (how often consumers use the brands? New opportunities New Ways

Improving Brand Image

Changes in Brand Awareness not sufficient A new Marketing Program Old positive associations to bolstered New positive associations to be created Negative associations to be neutralized

Repositioning

Changing Brand Elements

Repositioning

Establishing more compelling points of difference Remind consumers of virtues of brands that have been taken for granted Nostalgia and heritage Establish a point of parity on key image dimension Negative product-related associations due to changes in consumer tastes

Fatigon were originally positioned as a multivitamin, but did not succeed because it was quite a lot of multivitamins on the market. Then it became successful after repositioning as a busting tired multivitamin . So differentiation Fatigon well received by consumers.

Changing Brand Elements

Modification of Brand name Other Brand Elements Packaging, logos etc. Moderate and evolutionary in nature Preserve salient aspects of Brand elements
mcdonald's Indonesia change its one of brand one elements , that is slogan. Previously, slogan was "Mana Lagi selain di McD . but in 2003, the slogan was changed to Im Lovin it

Adjusting Brands Portfolio

Adjustments to the Brand Portfolio

Migration Strategy

Retiring Brands

Brand Migration Strategy

Brand Migration Strategy is designed and implemented to accommodate changes in brands and consumers (particularly important in rapidly changing technology product brands) Migrating customers within the portfolio To switch as needs and desires change - Brands should be organized logically in the mind Alpha numeric system for cars for consumers to trade up

Retiring brands - Obsoleting existing products

Decision to Retire a brand depends on a number of factors (existing and latent equity of a brand) If BE is damaged If BE has dried up beyond repair

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