Monday, April 30, 2007

A Reason to Believe: Finding the dramatic difference in retail brand revitalization

http://www.brandchannel.com/papers_review.asp?sp_id=1287

This is an interesting article by a retail brand consultant regarding the steps needed for retailers to succeed in the brand revitalization process, and why many retailers fail at it. Many retailers fail because the changes they implemented were superficial, instead of making fundamental changes to address the fact that the brand has lost its relevance. This is the situation the Gap finds itself in currently, as we discussed in class earlier.

The author points out that brand revitalization is often necessary once a company has reached the point where its perception of its brand differs significantly from the customer's perception. This forces the company to undergo a revitalization. The author also points out the importance of the employees in this process - getting employee buy-in is crucial to the success of the revitalization. Chances are that if the employees feel strongly about the new direction of the company, the changes will take hold and be more than just superficial.

The author finishes with an example of a company (REI) that implemented a successful brand revitalization.

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