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Managing Brands Over Time Effective brand management requires taking a long-term view of marketing decisions Any action that a firm takes as part of its marketing program has the potential to change consumer knowledge about the brand These changes in consumer brand knowledge from current marketing activity also will have an indirect effect on the success of future marketing activities Reinforcing Brand Images Brand equity is enhanced by marketing actions that consistently convey the meaning of the brand to consumers What products does it represent? What benefits does it supply? What needs does it satisfy? How does it make those products superior? What strong, favorable, and unique brand associations exist in the minds of consumers? Revitalizing a Fading Brand Because of changes in the marketing environment, brand equity can be eroded over time. Reversing a brand’s fortunes involves ... Recapturing lost sources of brand equity (e.g., Harley-Davidson) Identifying and establishing new sources of brand equity (e.g., Mountain Dew) More “revolutionary” changes than “evolutionary” changes Revitalization Strategies Expand the depth and/or breadth of awareness by improving consumer recall and recognition of the brand during purchase or consumption settings. Improve the strength, favorability, and uniqueness of brand associations -- either existing or new -- making up the brand image. Expanding Brand Awareness Increasing usage Increasing the level or quantity of consumption Increasing the frequency of consumption Identifying new or additional usage opportunities Communicate appropriateness of more frequent use in current situations Reminders to use Identifying new and completely different ways to use the brand Improving the Brand Image Go “back to basics” and tap into existing sources of brand equity (e.g., Harley-Davidson) product strategy pricing strategy channel strategy communication strategy Create new sources of brand equity (e.g., Mountain Dew) * Innovation in Produ
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