Differentiate between revitalization and reinforcement of the brands, with the help of the relevant examples from your everyday life?
Answers
Answer:
“Brand” is a fundamental part of today’s market place. “Brand equity provides the leverage option for the organisations which helps in the overall improvement of the performance”
These associations helps to establish a connection between the customer and the brand, and could include product attributes, brand personality, symbols, organisational associations, etc.
Explanation:
Brand Reinforcement is all about maintaining brand equity; in other words, it is about making sure that the consumers do have the desired knowledge structures so that the brands continues having its necessary sources of brand equity. This could be done by marketing activities that would persistently carry the meaning of the brand, to the consumers – which could be in form of brand awareness and brand image.
Leveraging refers to making money from a brand.
Brand Revitalization strategies for a company
The marketing strategy employed when a brand has reached maturity and profits begin to decline. Approaches to revitalisation may include one or all of market expansion, product modification or brand repositioning. It also seeks to identify and establish new sources of brand equity. ... hope it helps!