TITLE

The Brand You The Brand You Save

AUTHOR(S)
Semans, Debra
PUB. DATE
May 2004
SOURCE
Marketing Management;May/Jun2004, Vol. 13 Issue 3, p29
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article presents some signs of slow brand death and offers information on what to do if a brand is experiencing the affliction. If brands are showing signs of losing loyal customers, they may be suffering from the early onset of slow brand death. One of the key factors in identifying strong brands is the loyalty of the brand's customer base and customer willingness to pay more for the brand. If customers are willing to switch to other brands, there is a need to explore the cause and address it. A lack of differentiation from the competitors is another sign of slow brand death. If the product/service offering is truly not differentiated from the competitors, there is a need to create differentiation by taking internal action to own one of the compelling attributes on which customers base their purchase decisions. A strong brand can command a price premium. If marketers find that they are not able to do this and that they are experiencing more price sensitivity among customers, they may be seeing the first signs of slow brand death. However, the good news is that brand death can be avoided entirely when companies build a thorough understanding and definition of the brand and create organization alignment and commitment to consistent delivery on the brand promise. This allows a company to rally around the brand strategically and use the brand as the standard for all corporate decisions.
ACCESSION #
13468339

 

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