Brand Revitalization

Question

10. When should the brand be revitalized?

a) when customers are no longer aware of its value

b) when we haven't launched new brands for a long time

c) when customers no longer know why they buy it

d) when customers are too dependent on the brand

Answer 1

A brand should be revitalized when C-suite execs or a business owner is not able to articulate the following:

1. Who are our competitors, and do we thoroughly understand their businesses? What is the target audience they're serving? What are the key differentiating factors that make our brand unique?
2. Why have our customers chosen us over our competitors?
3. What is our Value Proposition? What are our points of differentiation? How do we craft our message?
4. Who is our ideal customer? What are our target audience's demographic, psychographic, and behavioral data?
5. What is the size of our market? What channels do we use to reach prospective customers?