Brand Management Revision

* Reinforcing, revitalising and retiring brands

* Brand extensions

* Advantages:

* New product acceptance (leveraging existing brand power)

* Feedback benefits to parent brand (reinforcing, strengthening, updating, shifting existing brand power)

* Not Appropriate when:

* Lack of “fit” or similarity between extension and parent brand

* Fails to achieve strong, favourable and unique associations

* Ignore potentially important brand associations

* Simply fail (Heinz cleaning vinegar, Campbell’s tomato sauce, Kleenex Nappies, Levi’s tailored Classic Suits)

* 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.

* Long term effect of marketing actions on Brand equity

* Consumer response to past marketing activity (brand awareness and brand image)

consumer response to current marketing activity (change brand awareness and brand image)

consumer response to future marketing activity

* Long term marketing decisions must be focused on

* Brand consistency – reinforcing brand meaning (BE actively managed over time) protect and nurture sources of BE

* Reinforcing brands:

* 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

* Maintaining brand consistency – the amount and nature of support necessary to maintain strength and favourability of brand associations.

* Invest in...