How to Manage Brand Equity? Brand reinforcement and Brand Revitalization

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Brand equity refers to the established value of a brand and is determined by the consumer’s perception of it.

Managing Brand Equity refers to Brand Reinforcement and Brand Revitalization.

Brand Reinforcement

Brand Reinforcement refers to the activities that ensure a brand does not lose or depreciate the brand equity with time.

It helps to keep the brand name kicking and alive in the minds of existing and potential customers.

Example – Coca Cola

Ways to Reinforce the Brand

1. Sustaining Brand Consistency

Through quality and quantity consistency in marketing

2. Protect Sources

Preserve existing sources and identify new sources of brand value to boost brand equity

3. Fortifying vs Leveraging

Fortifying helps to increase perception and awareness and Leveraging in making money from the brand

4. Support market program

Boost the product performance alliances that will improve brand image

Example: Red Bull’s Strategy for Brand Reinforcement

Sponsorship programs
Use of social media like YouTube videos
Sampling like offering T-shirts and hats to young individuals
A staged project “AirDrop”
Setting up of signage and freezers at point-of-purchase displays

Brand Revitalization

Brand Revitalization refers to a process that helps to improve an existing product or brand so that it can meet the changing demands of the growing market.

Ways to Revitalize a Brand

1. Identifying new possibilities and communicating them to the customer
2. Finding different ways to use the brand for instance a change in packaging design
3. Repositioning the brand by making appropriate changes
4. Changing one or more brand elements to convey a new meaning or message
5. Storytelling to develop a deeper connection

Ways to Revitalize a Brand - Example

1. Cadbury

This video is on How to Manage Brand equity and has the following sub-topics.

Time Stamps

0:00 How to Manage Brand Equity?
00:20 Brand Reinforcement
00:48 Ways to Reinforcement the Brand
01:30 Example: Red Bull’s Strategy for Brand Reinforcement
03:51 Brand Revitalization
04:21 Ways to Revitalize a Brand
06:37 Ways to Revitalize a Brand Example