Brand Revitalization meaning – It is the marketing strategy adopted when the product reaches the maturity stage of product life cycle, and profits have fallen drastically. It is an attempt to bring the product back in the market and secure the sources of equity i.e. customers.
Despite a good reinforcement strategy, a product has to be revitalized because of some uncontrollable factors such
as competition, the invention of new technology, change in tastes and preferences of customers, legal
requirements, etc.
Why Brand Revitalization is needed?
Increased Competition in the market is one of the major reasons for the product to go under brand
revitalization. In order to meet with the offerings and technology of competitor, the company has to design its
brand accordingly so as to sustain in the market.
Brand Relevance plays a major role in capturing the market. The brand should be modified in accordance
with the changes in tastes and preferences of customers i.e. it should cater to the need of the target market.
Nowadays Globalization has become an integral part of any business. In order to meet the different needs of
different customers residing in different countries, the brand has to be revitalized accordingly.
Sometimes Mergers and Acquisitions demand brand revitalization. When two or more companies combine, they want the product to be designed from the scratch in a way that it appeals to both and benefits each simultaneously.
Technology is something that is changing rapidly. In order to meet with the latest trend, the companies have to adopt the new technology due to which the product can go under complete revitalization.
Some Legal Issues may force a brand to go under brand revitalization such as copyrights, bankruptcy, etc. In such situations, the brand has to be designed accordingly, and the branding is to be done in line with the legal requirements.
How Brand Revitalization can be done?
The Usage of a product can be increased by continuously reminding about the brand to customers through advertisements. The benefits of the frequent use of a product can be communicated to increase the consumption, e.g., the usage of Head & Shoulders on every alternate day can reduce dandruff.
The untapped market can be occupied by understanding the needs of the new market segment. The brand revitalization can be done to cater to the needs of new customers, e.g.; Johnson n Johnson is a baby product company but due to its mild product line the same can be used by ladies to have soft skin and hair.
The brand can be revitalized by entering into an entirely New Market. The best example for this is Wipro, who has entered into a baby product line.
Another way of getting the brand revitalized is through Re-positioning. It means changing any of the 4 Ps of marketing mix viz. Product, price, place, and promotion.
The best example of re-positioning is Tata Nano. On its launch, it was tagged as the “cheapest Car” that hurt the sentiments of customers, and the sales fell drastically. To revive the sales, the new campaign was launched “Celebrate Awesomeness” which re-positioned its image in the minds of the customer.
Example
Mountain Dew, A Pepsi product, was launched in 1969 with the tagline “Yahoo Mountain Dew” that flourished in the market till 1990. After that the sales of mountain dew declined due to which it was re-positioned, its packaging was changed, and the tagline was changed to “Do the Dew”. It targeted the young males showing their audacity in performing adventurous sports. This led Mountain Dew to the fifth position in the beverage industry.
You can also read about Brand Extension, knowlege cannot be dangerous afterall!
To read more content like this, subscribe to our newsletter.
