Brand identification and Retro branding as a market practice.
Date Submitted: 01/05/2003 21:13:08
Category: / Business & Economy / Marketing and Advertising
Length: 2 pages (649 words)
Category: / Business & Economy / Marketing and Advertising
Length: 2 pages (649 words)
Mkt 601- Marketing Management
Summary
Brand extension, is the reintroduction of a brand that was previously marketed, but has been updated. To coin a phrase, "What's old is what's new." We are a culture built on history, and history has a tendency of repeating itself. There are a lot of new products being reintroduced to the market. Today's consumer environment thrives on brand identities, Product differentiation, and competitive imitations. The success of retro branding, be …
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…can build from/on a preexistent products prestige, market penetration and customer base. In choosing to use brand extension and retro-branding a company thus gains a competitive advantage. Retro branding, takes into consideration consumers sense of nostalgia, which goes far in gaining new and returning customers while the quality of the product keeps them loyal.
References,
Teaching Old Brands New Tricks: Retro branding and the revival of Brand Marketing, Journal of Marketing, Vol. 67 number 3 July2003
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