Concept of Brand Revitalization Importance in Global Marketing Strategy and Decision

Brand Revitalization
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Brand Revitalization
The main idea is brand revitalization, where companies strive to recover and reposition their brands in consumers’ minds when they are not working successfully CITATION Red16 \l 1033 (Reddy & D.Uma Maheswar Reddy, 2016). Companies adopt this marketing strategy when their products reach the maturity stage of their life cycle. At this stage, the product may have become monotonous, and the profits may have fallen drastically. The idea is to bring the product back to life and to keep the brand relevant. Companies may include other products that keep their brand alive. They may also change aspects of their products: for instance, Kellogg's Pringles were made in stackable shapes, and their consumption increased. Kellogg company has also stayed relevant as a brand since 1906 (Miami Herbert Business School, 2018). Brand revitalization reinforces a company and its products against competition, technology, and change in customer taste and preferences. (Business Jargons, 2021)
The concept of brand revitalization is applicable in today's companies that wish to keep their brands relevant during changing generations and eras. Additionally, companies can change the packaging of their products to make them more attractive, breaking the monotony and attracting more customers. In some instances, companies can remove artificial ingredients, colors, and sugars from their products to match consumer needs and make their products better acceptable to consumers. People are gradually switching to organic products, and this aspect will give customers what they want. Consumers like to associate with companies that do things right and act with integrity. Hence, as a means of brand revitalization, companies need to have integrity as their core va...