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The concept of brand life cycle is absent from most books on branding !! So, what do you think about this concept ? Does it exist ? And some people say that both product life cycle and brand life cycle are the same ! Please share your opinions. !!
In addition to what Zafar has aptly explained, brands do die off when the company that owns these brands go out of business. However, if the brand name has a customer base, other competitors may buy it and introduce it in their product line and give the brand a new life line.
Every brand has its own life cycle and after staying there as king in the market for ceratin period does show decline reasons are many:
Too many brands around
Brands with better customer appeal
Brands with good value proposition
Brands with improved formula
Brands with many brand extensions or Variants
Brands with similar formula but at lesser price.
To extend life cycle of that brand or add lease to its life you have to rebrand and relaunch it with some gimmick like improved taste or formula added features much appealing or value to the customer and have marketing strategy in place as if it is a new brand for the company and customer.
Common believe is brand life cycle is same of Product lif cycle. i beleive there are different kind of brands like product brand, corporate brand, service brand and global brands. Like all Big brands Sony they are not specific to one product like LED or smart phone or music players. some brands have life and some ll die only because of poor strategy like Pepsi brand might die but Pepsi co ll survive with diversification in sahpe of water, lays and many other.
YES,,,,, PRODUCT LIFE CYCLE EXIST BUT TO ME OLD BRAND IS A VALUE ,,, NEED IS TO REFINE , REVIEW , REDESIGN , SOME TIMES RELAUNCH THE OLD BRAND TO COPE UP WITH FAST CHANGING MARKET REQUIREMENTS .... GOOD DAY
Good Day!!!
Every brand or product has its life cycle: product development stage, introduction stage, growth stage, maturity stage and declining stage. Every brand/product has a different/its own and exclusive life cycle.
Pharmaceutical companies are recognizing the need and making effots to work on more effective strategic planning and rigorous approach to evolve their established brands for maximum competitive advantage and long life cycle.
E.g., Zantac / Tagamet / Septran etc etc...... are the classical examples of effective Brand life cycle management...... otherwise they might out of the market decades before.
Same applies to other industries.
In very rare caases Brand life cycle exist, but the main aspects is for products or services
The Product Life Cycle is one of the most basic concepts of modern marketing. The idea behind it is simple: products have lives of their own that are similar to the lives of organisms.
personally I do believe of the ability that each product could be could ( brand life cycle) looking at the satisfaction it gave to the consumers and how they mentally connected with that brand.
Every brand or product has its life cycle: product development stage, introduction stage, growth stage, maturity stage and declining stage. Every brand/product has a different/its own and exclusive life cycle.
Pharmaceutical companies are recognizing the need and making effots to work on more effective strategic planning and rigorous approach to evolve their established brands for maximum competitive advantage and long life cycle.
Certain brands win and live over the life cycle mechanism and may remain as if there is no natural death to the brand e.g. certain brands of cosmetics, confectinary, biscuits ....as they strongly registered in the mind of people over generations.
Every brand has its own life cycle and after staying there as king in the market for certain period does show decline reasons are many:
Too many brands around
Brands with better customer appeal
Brands with a good value proposition
Brands with improved formula
Brands with many brand extensions or Variants
Brands with similar formula but at lesser price.
