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1. Identify one brand that made a comeback. (Meaning, the brand used to be popular, started waning, and then became popular again.) What is this brand? _______________________________
2. Why was this brand popular initially? Why did consumers use to like this brand so much? Provide an explanation.
3. Why did the brand start losing its strength and popularity? Go through the following factors and assess whether or not they have played a role. Also, provide a supporting argument for your assessment – that is, explain why you think this factor did or did not play a role.
-Changes in consumer’s preferences, tastes, and/or values:
-Changes in consumers’ shopping patterns:
-Changes in competition:
-Changes in technology:
-Changes in government regulations or policies:
4. How did the brand come back to life? Consider the following marketing strategies. Go through each strategy in the list below and assess whether the strategy was a part of the marketing efforts that helped the brand make a comeback. Also, provide evidence by providing the brand’s actual marketing efforts as examples.
-Expanding breadth of awareness (influencing consumers to use the brand’s product/service in a wider range of situations):
-Improving the brand image among vulnerable or lost customers (investing in efforts to recapture the interest of past customers who used to love the brand or current customers who are starting to feel uncertain about the brand):
-Attracting new customers (trying to find completely new customers; i.e., different age groups, different income groups, etc.):
-Repositioning the brand by establishing a more compelling point-of-difference:
-Adjusting/changing the 4 Ps (product, price, place, and/or promotion) of the brand:
-Improving brand elements (e.g., updating the brand’s name, logo, tagline):
Please answer all questions completely. Thank you 🙂