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Brand Identification And Retro Branding As A Market Practice

725 words - 3 pages

Mkt 601- Marketing ManagementSummaryBrand 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 it with music, movies, fashion, automobiles, furniture, etc., has sparked tremendous interest with marketing practitioners and analysts. It is believed that, classic brands not only embodies the moral values of ...view middle of the document...

The new Beetle, launched in 1998 combines the traditional rounded shape with state of the art automotive technology and has been extremely successful. A huge motivator of companies and or individuals to make retro brand, is that they already have a pre existent customer base. This has proven to be a good marketing strategy because it gives a competitive edge to the initiator because their customers sometimes have trust and loyalties to the old product. But for the proprietor of retro-branding to truly be successful, good advertising is paramount to reintroduce the public to it product. The advertising should convey symbolic stories narratives or extended, metaphors, or promise to satisfy consumer desires.AnalysisMarket penetration is the objective every company hopes to achieve, with their brand, A company tries to achieve increased sales of its product through expanding its distribution, promotion and advertising competitive principle and brand differentiation techniques. With millions of brands on the market, a company is faced with the task of choosing the type(s) of products to...

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