Topic 9: Managing Brand over time

Question 1

What are the 4 ways to Reinforce Brands?

Answer 1

1. maintaining brand consistency
2. protecting sources of brand equity
3. fortifying versus leveraging
4. fine-tuning supporting marketing program

MPFF

Question 2

Explain the 4 ways to Reinforce Brands

Answer 2

1. Maintaining Brand Consistency involves consistency of marketing support and brand associations
2. Protecting Sources of Brand Equity - little need to deviate from successful positioning, top priority is to preserve and defend those that already exists
3. Fortifying verus Leveraging - marketers can design marketing programs mainly to capitalize or to maximize brand awareness and image by reducing advertising expenses or introducing numerous brand extensions
4. Fine-tuning supporting marketing programs involve
   - product related performance associations whereby innovations in product design, manufacturing and merchandising is critical to enhance brand equity
   - nonproduct-related imagery associations involves user and usage imagery which is critical

Question 3

What are 2 strategic options to Revitalize Brands?

Answer 3

1. expand the depth and breadth of the brand awareness or both
2. improve strength, favorability and uniqueness of brand associations

Question 4

What are the 3 ways to Improve Brand Image?

Answer 4

1. Identifying Target Market
2. Repositioning the brand
3. Changing Brand Elements

Question 5

How to identify target market?

Answer 5

RRIA

1. retaining vulnerable customers
2. recapturing lost customers
3. identifying neglected segments
4. attracting new customers

Question 6

How to Reposition the Brand?

Answer 6

1. require more compelling POD

2. reposition to establish POP on some key image dimensions

Question 7

How to Change the Brand Element?

Answer 7

1. need to convey new information

2. need to signal that the brand has taken over a new meaning because something in the marketing program has changed