Magazine article Management Today

Crash Course: Reviving a Brand

Magazine article Management Today

Crash Course: Reviving a Brand

Article excerpt

Cadbury famously brought Wispa back off the shelf; Lloyds Banking Group has dusted off the two-centuries-old TSB name; and barely had the shutters dropped at camera retailer Jessops before it was being revived, Lazarus-like, from the dead.

So if there are brands in your cupboard that could make a comeback, here's how to set about engineering their return.

Why bother? 'It takes time and a lot of effort to build a new brand from scratch,' says Marie Ridgley, managing director of market insight consultancy Added Value in New York. 'If you have a dormant brand with positive associations, that's a good springboard to start from.'

Look for demand. Research if there's a latent demand for your brand Social media can be a useful barometer. 'Before it brought back Monster Munch, Walkers could see there was talk and noise about it. The internet connects millions of people who might be loyal to a brand,' says Giles Lury, chairman of strategic brand consultants the Value Engineers and author of The Prisoner and the Penguin.

Check ownership. You revive somebody else's brand at your peril, point out lawyers Taylor Wessing - it could be deemed copyright infringement or passing off. Also, if somebody else owns the same brand in another country, it's a recipe for confusing the consumer.

What went wrong? It's worth analysing why the brand disappeared in the first place, as that will help you judge whether it has a future, says Mark Artus, CEO of brand agency 1HQ. 'Your starting point has to be whether there is a customer need for this brand. …

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