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Brand revitalization

DESCRIPTION OF BRAND REVITALIZATION ALONG-WITH CASE STUDY OF MCONALDS

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Brand revitalization

  1. 1. Submitted to: Submitted by: Prof. Sultana Mazumder Parishma Dutta (GM20/17) Associate Professor Juvayeer Ahmed(SM05/17) Shweta Shrestha(SM09/17) Pinky Boro (GM21/17 )
  2. 2. • INTRODUCTION • WHY BRAND REVITALIZATION • METHODS • CASE STUDY • CONCLUSION • REFERENCES
  3. 3.  Marketing strategy adopted when the product reaches the maturity stage of product life cycle & profits have fallen drastically  An attempt to bring the product back in the market
  4. 4. Take a long-term perspective. Most brands take a long time to build, and a long time to die. Reviving a brand is also a long-term initiative, typically taking more than a year or two.
  5. 5. WHY BRAND REVITALIZATION?
  6. 6. •Increased Competition •Brand Relevance •Globalization •Mergers and Acquisitions •Technology •Legal Issues
  7. 7.  Increased Product Use  Finding new users  Enter new market  Re-positioning  Augmenting product & services  Customer Involvement
  8. 8. Is the brand worth reviving?
  9. 9. YES, Only if there is significant residual value in one or more of the components of brand equity
  10. 10. Brand equity is defined as ''the differential effect that consumer knowledge about a brand has on the customer's response to marketing activity,'' … …..and ''consumer brand knowledge can be characterized in terms of brand awareness and brand image dimensions''.
  11. 11. CASE STUDY
  12. 12. “McDonald’s vision is to be the world’s best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that they make every customer in every restaurant smile.’
  13. 13. McDonalds • Sales were in decline. • Market share was shrinking. • Franchisees were frustrated. • Employee morale was low. Customer satisfaction was even lower.
  14. 14. What Went Wrong? • Many things contributed to the decline of the McDonald’s brand between 1997-2002. • The brand had been declining slowly, painfully, and publicly for some time. • Some of the reasons are: • Renovation • Innovation • Marketing
  15. 15. •Focused on cost reduction instead of quality growth of the top line. •Focused on monthly promotions rather than on brand building. •Focused on monthly promotional tactics designed to drive short- term sales at the expense of brand equity. •Focused on increasing outlets instead of increasing sales. •Unhealthy food.
  16. 16. Rule #1: Refocus the Organization • • • • Brand Purpose and Goals Financial Discipline Operational Excellence Leadership Marketing Rule #2: Restore Brand Relevance • Thorough Knowledge of the Market Needs-Based • Market Segmentation • Customer Insight Brand Promises. Rule #3: Reinvent the Brand Experience Innovation Renovation Marketing Fair Value Total Brand Experience Rules of revitalization By Larry Light
  17. 17. Rule #4: Reinforce a Results Culture • Measurable Milestones • Balanced Brand- Business Scorecard • • Recognition and Rewards Rule #5: Rebuild Brand Trust • Internal/External Commitment and Behavior Rule #6: Realize Global Alignment • Plan to Win Eight Ps: Purpose, Promise, People, Product, Place, Price, Promotion, Performance • Freedom Within a Framework More Customer More often More loyal More profitable
  18. 18. CONCLUSION
  19. 19. •“Brand Revitalization”, Tahira Umair, Haseeb Baloch,Tehreen Bint Ilyas, Fraz Azmat, M. Ubair, Mashal Mahmood, Ata Ul Hussnain •“What is Brand Revitalization? definition and meaning”, https://businessjargons.com/brand- revitalization.html

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