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Chapter 13 Managing Brand Over Time.docx

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Department
Marketing
Course
MKT 510
Professor
Ida Berger
Semester
Fall

Description
MKT510 Innovations In Marketing CHAPTER 13 Managing Brand Over Time REINFORCING BRANDS Maintaining Brand Consistency  Most important consideration in reinforcing brands is consistency in nature and amount of marketing support brand receives o Requires making numerous tactical shifts and changes in order to maintain strategic thrust and direction of brand o Many brands kept creative element in marketing communication programs and effectively created “advertising equity” Protecting Sources of Brand Equity  Consistency guides strategic direction and does not necessarily prescribe particular tactics of supporting marketing program for brand Fortifying versus Leveraging  Marketers can design marketing programs that mainly try to capitalize on or maximize brand awareness and image, such as reducing advertising expense, seeking increasingly higher price premiums, or introducing numerous brand extensions o The more marketers pursue this strategy, the easier it is to neglect and perhaps diminish brand and its source of equity Fine-Tuning and Supporting Marketing Program  Make changes to basic positioning and strategic direction only when it’s clear marketing program and tactics are no longer making the desired contributions to maintaining or strengthening brand equity  Specific considerations: o Product-related performance associations  Innovations in product design, manufacturing, and merchandising is especially critical to maintaining or enhancing brand equity  It is important not to change the product too much, especially if brand meaning for consumers is wrapped up in product design or makeup o Non-product-related imagery associations  Symbolic or experiential benefits, relevance in user and usage imagery are intangible in nature and may be easier to change  Ill-conceived or too-frequent repositioning can blur image of brand and confuse or perhaps even alienate consumers REVITALIZING BRANDS  Brands with comeback trail must make more “revolutionary” than “evolutionary” changes to reinforce brand meaning  In profiling brand knowledge structures to guide repositioning, marketers need to accurately and completely characterize breadth and depth of brand awareness; strength, favourability, and uniqueness of brand associations and brand response held in memory; and nature of consumer-brand relationships  Customer-based brand equity framework for guidance about how to best refresh old sources of brand equity or create new ones to achieve intended positioning, two strategic options: 1. Expand depth or breadth of brand awareness, or both, by improving consumer recall and recognition of brand
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