Brand Rejuvenation by Surbhi, Swarnim, Swati & Vivek

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Project Report

On

Rejuvenating Brands-“Cadbury Five Star”

Submitted to:

Prof. Anup Raj

By:

Group-9

Term-V

Batch-2010-12

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OLD PACK

New Pack

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EXECUTIVE SUMMARY The objective of the study was to explore and examine the various factors leading to the need

of Brand Rejuvenation. And also to examine brand rejuvenation with context to Cadbury Five

Star Chocolate and strategies that helps in the process.

The report contains a brief introduction of branding, brand rejuvenation, need for

rejuvenation and method to rejuvenate. It also contains a detailed view of the tasks, which

have been undertaken to find out factors influencing need for brand rejuvenation. Various

sets of questionnaire have been prepared to find out need for brand rejuvenation and issues in

brand rejuvenation. Information has been gathered from both primary using questionnaire as

well as secondary sources. Data was collected through an interview with the respondent using

questionnaire as research instrument. The tools used were Reliability test and Factor analysis

through SPSS.

Through Factor analysis, we found that brand rejuvenation is required when there is loss of

market share due to competition, when there is requirement of product development,

confused positioning and when there is need to differentiate the brand image.

From, empirical study of Cadbury five star we found that the brand has been re-launched

more than 9 times in the last 15 years by using brand rejuvenation strategies and also with

help of Ansoff matrix. The brand has always focussed on improving quality, communicating

clearly to consumers and improving product image. We concluded that brand rejuvenation is

a very important factor as introducing brand consumes ten times more money than an existing

one.

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TABLE OF CONTENT: EXECUTIVE SUMMARY ....................................................................................................................... 3

ACKNOWLEDGEMENT ....................................................................................................................... 5

1. INTRODUCTION ......................................................................................................................... 6

2. LIETRATURE REVIEW .................................................................................................................. 7

BRAND ....................................................................................................................................... 7

BRANDING ................................................................................................................................. 7

BRAND LIFE CYCLE ..................................................................................................................... 7

BRAND REJUVENATION .............................................................................................................. 9

NEED FOR BRAND REJUVENATION ........................................................................................... 10

METHODS OF BRAND REJUVENATION ...................................................................................... 12

Managing how existing users perceive a brand ........................................................................ 14

Improving brand image ............................................................................................................ 15

Repositioning the Brand .......................................................................................................... 15

Changing Brand Elements ........................................................................................................ 15

Entering New Markets ............................................................................................................. 16

CADBURY 5 STAR ............................................................................................................................. 16

3. METHODOLOGY OF THE STUDY ............................................................................................... 18

Research Aim .............................................................................................................................. 18

Sources of Data:....................................................................................................................... 18

Reliability Testing ....................................................................................................................... 19

Factor Analysis: ........................................................................................................................... 19

5. ANALYSIS AND INTERPRETATION ......................................................................................... 21

6. CONCLUSION ........................................................................................................................... 23

7. RECOMMENDATIONS .............................................................................................................. 23

8. BIBLIOGRAPHY ......................................................................................................................... 24

9. Appendices: ............................................................................................................................. 25

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ACKNOWLEDGEMENT

First and foremost we extend our heartiest gratitude to Chandragupt Institute of Management,

Patna for giving us an opportunity to work on this project titled ―Brand Rejuvenation of

Cadbury 5 star‖. It has been an enriching experience for us to undergo our Brand and product

management project under Prof. Anup Raj. It helped us understand the phenomenon of

Brand Rejuvenation. We would like to express our sincere thanks to all who have supported

us during the project.

We also take the opportunity to thank everyone for giving their valuable time, suggestions

and genuine answers for the questions intended for primary data collection at various stages

of our projects. Last but not least I thank all other for their support in completion of this

project as a part of our academic curriculum.

Group no.-09

Brand and product management

PGDM 2010-12

CIMP

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1. INTRODUCTION

Brand creates the intellectual and emotional associations with a company, product or person.

The brand is the beacon of expectations and the steward of the consumer relationship. Brand

is a continuum that starts with the most generic form (the commodity) and ends with that

most unique and specific of things: a brand.

Brands are not born as brands, but they are born as commodities. For example, more than a

century ago, John Pemberton set out to create a tonic, not a global brand named Coca-Cola.

And in 1962, when Bill Bowerman and Phil Knight each chipped in dollars 550 to set up

Nike, their goal was to make running shoes for athletes, not create a global leisure brand

empire.

In general the word Brand is expressed in a qualitative way, the essence of the brand lies in

each of our unique, subjective interpretations, in our understanding of the brand—which is

guided by cultural context, interactions we have had with and about what we are evaluating,

and our own personal conception of the world. The science of branding is about designing for

and influencing the minds of people—in other words, building the brand.

In virtually every product category, there are examples of once prominent brands that have

fallen on hard times and in some cases even completely disappeared. Brands do have life

cycle which may consist of a number of phases from inception to launch, growth, maturing,

decline, revitalization, and retirement. Brand rejuvenation gives a second life to the product.

It is a process in which a brand on the verge of retirement is brought back to life to regain

markets.Revitalizing a once-popular dormant brand can be a highly profitable strategy under

the right circumstances.

Today, the marketplace is filled with anecdotal success stories of how brands have been

―brought back from death‘s doorstep.‖ Some of the cases have been adopted in order to

understand the various needs for, methods of and issues involved in brand rejuvenation.

The study tries to look into the various needs and method for brand rejuvenation. And also

tries to look the brand rejuvenation of Cadbury 5 star and the reason behind this.

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2. LIETRATURE REVIEW

BRAND

The word brand is derived from Old English meaning, ―burning stick‖. The ancient Egyptians

used livestock branding as early as 2700 BC as a theft deterrent, as stolen animals could then

be readily identifiable. Around the 10th century merchants marked simple linear designs to

prove ownership of goods that were missing due to shipwrecks, pirates, or other mishaps.

They were also useful for the tracking of goods by people who were illiterate. Keller borrows

the definition from the American Marketing Association to explain the concept brand: ―name,

term, sign, symbol, or design, or a combination of the intended to identify the goods and

services of one seller or group of sellers and to differentiate them from those of competition‖.

Brands are always created and are supposed to give a product-meaning to the consumer,

which means in other words, that different attributes will be associated with that product.

Keller also mentions that not only physical products can be branded, but also services,

retailers and distributors, people and organizations, sports, art and entertainment tools (e.g.

movies, etc.), but also geographical locations. Based on this definition, one can go one step

further and define different brand elements, for example the brand name, symbols, package,

logos, etc. (Keller).

BRANDING

The concept of branding in the 21st century grew out of the packaged goods industry, and the

branding philosophy has come to include much more than just creating a way to recognize a

product or an organization. Branding in the new millennium is used to create an emotional

attachment to products and organizations. As a result the stakes involved in launching,

maintaining, and evolving a brand are much higher today in the global economy, than they

were in the past. A brand is a powerful strategic weapon. It distinguishes a company from its

competitors. It defines to the stakeholders, which is the company, what the company believes

in and what they may expect from the company. A great brand is a story that is never

completely told – each new product, promotion or advertisement is just another passage, one

more chapter, and one more revealing insight into a complex yet familiar plot.

BRAND LIFE CYCLE

There is a debate in branding circles as to whether or not a brand can have a "life cycle" of its

own, or whether its peaks and troughs and just a symptom of managing the brand elements

which are, its logo, personality, positioning etc.

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In a product‘s lifecycle, the peaks and troughs can come in a quicker timeframe, making the

cycle more obvious. A brand can have a rise, and then fall out of favour, to be superseded by

a new and improved brand. The fact that branding process takes many years affects the

universal acceptance of the existence of a brand lifecycle. Without careful management,

brands can follow the general pattern of a product lifecycle: moving through introduction,

growth, maturity, and decline stages in a relatively rapid fashion. Well-managed brands,

however, can prosper almost indefinitely. Numerous studies have shown that many brands

that were leading the market years ago are still in that position. To a large extent it has been

proved difficult for a challenging brand to overtake them. This means that they have the

ability to extend the life cycle or, possibly, the effective marketing of these brands has meant

that the life cycle, in its purest form, does not exist. The brand must remain relevant in an

ever-changing marketing environment. It must continue to provide consumer value.

Optimizing opportunity for the brand is something that should never go out of focus

throughout the lifecycle of the brand. Even as considerable time and investment are made in

creating and developing a brand in the lead up to launch, important consideration needs to be

given to maintaining and managing the opportunity for that brand following the launch.

One of the issues facing brands today and in the future is the apparent shortening of the

―product life cycle.‖ While many brands continue to lead their markets after many years,

others have short life cycles and are frequently designed with this in mind. Brands either live

or die. Certain branded products may "die" from obsolescence or changing consumer tastes,

but brands can be rejuvenated with new products and services. With well-conceived

strategies, a brand can be kept relevant to consumers and last almost indefinitely. Stories of

Barbie, Colgate and Kodak justify the possibility.

According to a model (Figure 1) used by a consultant company Landor, a brand‘s position in

the life cycle can be known by plotting the brand‘s strength, which is measured with

parameters of differentiation and relevance and stature, is measured with parameters of

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esteem and knowledge. These four parameters are consistently linked with a brand's ability to

deliver revenue and profit for its owner — no matter the category, no matter the country, no

matter the age of the brand.

Understanding the position of a brand in its life cycle plays a critical role in the brand

manager‘s decisions. A brand can undergo rejuvenation only if it has the potential to come

back strongly into the market. It should have a high strength, meaning that the awareness and

the knowledge about the brand should be high even the brand may not have a high score in

strength.

BRAND REJUVENATION

While products often have a lifecycle, we have seen that brands can be eternal. When brands

get sick, they can be revitalized. Brands can maintain differentiation, esteem and awareness

and thus be able to sustain for a long time. Brand managers may breathe new life into the

brand when it seems to be losing its identity. This can be achieved by focusing on renovating

offerings.

Ghost Brands are brands that are shadows of their former selves. They walk the fine line

between life and death, and are often demoted to the bottom shelf, which is the death row in

many stores. The companies, which own these brands, have four options:

1) Revitalize them, 2) Milk them, 3) Sell them, or 4) Kill them.

Brand Rejuvenation or Revitalization is a major overhaul of a brand, starting with its

positioning and proceeding through creative regeneration of the brand identity. Brands like

McDonald's pursue an ideal whereby they simply peel off their old skin and relaunch

themselves as a new brand. McDonald's new look and new menu offering are methods of

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rejuvenating the brand. Brands like Dhari Detergent, Hamam, Lifebuoy, Horlicks, Bourborn,

and Nescafe have all worked hard at trying to rejuvenate their image in the consumers‘

minds.

Considering the fact that product life cycle and brand life cycle are related, we can

understand the requirement of brand rejuvenation by the following figure. Here we see that

the rejuvenation strategies are named as injections of new life. These help the company

increase the sales and thus improve the brand image of the product.

To prolong the life cycle of a brand or product an organization needs to use skilful marketing

techniques to inject new life into the product. Products with fewer sales and which are on the

brink of exit with damaged brand equity can be termed as the ―Ugly Ducklings‖. These

include old brands supposedly on their last legs; brands with a loyal but shrinking consumer

following; unglamorous cash cows; brands that have built the company; modest volume

brands which have had the profit; beasts that never quite broke out of the pack; brands that

are put at the lower bottom of the reports.

NEED FOR BRAND REJUVENATION

Brands can be understood in four basic stages, without using the life cycle pattern. Brands

that have made money, brands that are making money, brands that will make money and

brands that will be making money. Brand Rejuvenation can be a formula applicable to brands

that are in the first two stages. They need to be brought to level three or four. In simple terms,

Brand Rejuvenation is the effort to bring a brand which could not make money into the

money making bracket, with a new positioning or communication strategy.

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So, Need to revitalise the brand arises when-

A new competitor might have taken over the category and the company is struggling

to generate revenues.

The whole product or service category may be declining.

To regain the position in the customer mind share.

The target market for the brand is aged.

To achieve high impact and recognition.

As Ogilvy & Mather's Normart Berry once remarked:

The brands most likely to respond to revitalization efforts are those that have clear and

relevant values that have been left dormant for a long time, have not been well expressed in

the marketing and communications recently, have been violated by product problems, cost

reductions, and so on. If it is found that the brand really does not have any strong values,

chances are that the product or business strength in the past was a function simply of

performance and spending characteristics and that, in fact, according to our: definition, it

never really became a true brand. Bringing these brands back to life is more like starting from

scratch. It really isn't revitalization.

At the level at which the buck stops and budgets are decided rejuvenation plays a crit ical role

for a brand to come back to life. Some companies believe reputation matters more than

Brand

Rejuvenation

Product

attributes

Stake

holders

Strategies

Corporate

vision

,mission

Brand audit

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anything else and this is true as the stakeholders of the company already have an impression

of the company. Every day, these impressions dictate how people behave towards the

company. The question is how much of attention needs to be given to this. This determines

whether a company chooses to actively manage these perceptions or leave them to chance.

The sum of most of these impressions can be called you‘re as a brand. It tells the world what

it can expect from the company.

METHODS OF BRAND REJUVENATION

While going for a repositioning, it is important to accurately and completely characterize the

breadth and depth of brand awareness; the strength, favourability, and uniqueness of brand

association and brand responses held in consumer memory; and the nature of consumer-brand

relationships. The brand equity in the minds of the customer has to be analyzed.

Decisions must then be made as to whether to retain the same positioning or to create a new

one and, if so, which positioning to adopt. The positioning considerations can provide useful

insights as to the desirability and deliverability of different possible positions based on

company, consumer, and competitive considerations. Sometimes the positioning is still

appropriate, but the marketing program is the source of the problem because it is failing to

deliver on it. In these instances, "back to basics" strategy may make sense. In other cases,

however, the old positioning is just no longer viable and a "reinvention" strategy is necessary.

Revitalization strategies obviously involve a continuum, with pure "back to basics" at one

end and pure "reinvention" at the other end. Many revitalizations combine elements of both

strategies. With an understanding of the current and desired brand knowledge structures in

hand, the customer-based brand equity framework again provides guidance as to how .j to

best refresh old sources of brand equity or create new sources of brand equity to ,y achieve

the intended positioning. According to the model, two such approaches are possible

1. Expand the depth or breadth of brand awareness, or both, by improving consumer recall

and recognition of the brand during purchase or consumption setting

2. Improve the strength, favourability, and uniqueness of brand associations making up the

brand image. This approach may involve programs directed at existing or new brand

associations.

By enhancing brand salience and brand meaning in these ways, more favourable responses

and greater brand resonance can result. Strategically, lost sources of brand equity can be

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refurbished and new sources of brand equity can be established in the same three main ways

that sources of brand equity are created to start with: by changing brand elements, changing

the supporting marketing program, or leveraging new secondary associations. The remainder

of this section considers several alternative strategies for affecting the awareness and image

of an existing brand to refresh old sources or create new sources of brand equity.

Making Old Brands New: - Many once-strong brands wither away into obscurity because

their brand managers lose sight of the customer, and choose to attack the competition instead.

Brand managers need to focus on the three ways customers interact with a brand.

Specifically, managers need to understand how customers perceive, choose, and use the

brand. This is because, when most people buy products, they buy 1 or 2 at a time. They

anchor on a low number (like 1 or 2), then buy more if the product's on sale. When

promotions suggest high numbers people shift their reference point to the higher number, and

buy more. Profit pressures on mature brands lead some companies to focus on the

competition at the expense of the customer. In the face of these pressures, companies can

either fight the competition or shore up the loyalty of existing customers. Increasing customer

loyalty has both short and long term benefits, but companies must understand the interaction

points between customer and brand, which talks about how customers perceive a brand.

In mature brands this point is very essential. The product might have fallen out of favour, or

the household might already have the product in inventory and it must be used up before it

will be bought again. In these cases choice can influence perceptions and then usage or usage

can influence perceptions and then choice.

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So, Brand Rejuvenation can be done by;

1. Managing how existing users perceive a brand

2. Expanding brand awareness

3. Improving brand image

4. Repositioning the brand

5. Changing the brand image

6. Entering into new market

Managing how existing users perceive a brand

Associate the Brand with Relevant Goals: over time, consumer wants and needs change.

Sometimes an old mature brand must reposition itself as a viable tool to achieve these new

goals. Cadbury's Dairy Milk has recently launched a new campaign ―Shubh Aarambh"

(meaning Auspicious Beginning). The Shubh Aarambh campaign reinforces the occasion

based positioning of Dairy Milk. The brand has been trying to position itself as a symbol of

enjoyment and celebrations. Indians have the tradition of sharing sweets on auspicious

occasions and also when one initiates a venture/activity. Whether the activity is small like

writing an exam or huge like starting a company, sharing of sweets is an integral part of the

event. The belief is that good things happen when one starts a venture on a positive note (like

sharing sweets).

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Refresh Favourable Perceptions: this is the backbone of the nostalgia campaigns that have

resurrected Onida and Hero Honda CD100. By calling up past memories and positive

perceptions of a product, the consumer will be more open to any new messages the marketer

is sending. Mirc Electronics Ltd, decided to re-launch its well-known ―Onida Devil‖

campaign to help the brand regain its lost charm. For long, the ―Onida Devil‖ has been the

face of Onida, along with the catch line Neighbours Envy Owners Pride.

Expanding brand awareness

With a fading brand, often it is not the depth of brand awareness that is a problem- consumers

can still recognize or recall the brand under certain circumstances. Rather, the breadth of

brand awareness is the stumbling block-consumers only tend to think of the brand in very

narrow ways. Therefore, one powerful means of building brand equity is to increase the

breadth of brand awareness, making sure that consumers do not overlook the brand and that

they will think of purchasing or consuming it in those situations in which the brand can

satisfy consumers' needs and wants.

Improving brand image

Although changes in brand awareness are probably the easiest means of creating new sources

of brand equity, more fundamental changes are often necessary. A new marketing program

may be necessary to improve the strength, favourability, and uniqueness f brand associations

making up the brand image. As part of this repositioning to the existing positioning any

positive associations that have faded may need to be bolstered, any negative associations that

have been created may have I be neutralized, and additional positive associations may have to

be created.

Repositioning the Brand

In some cases, brand repositioning requires establishing more compelling points of

difference. This may simply require reminding consumers of the virtues of Arm & Hammer

Baking Soda is a perhaps the most recognized example of the diversified innovative

applications of the product. Baking soda, primarily used for cooking uses, is now found in

many household refrigerators as a deodorizer or in bathrooms for dental hygiene. Kellogg's

Corn Flakes ran a successful ad campaign with the slogan "Try Them Again for the First

Time."

Changing Brand Elements

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Often one or more brand elements must be changed to either convey new information or to

signal that the brand had taken on new meanings because the product or some other aspect of

the marketing program has changed. The brand name is the most difficult to change.

Packaging, logo and other characters may be changed.

Entering New Markets

Positioning decisions require a specification of the target market and the nature of

competition to set the competitive frame of reference. The target market or markets for a

brand typically do not constitute all possible segments that make up the entire market. In case

of Mountain Dew, the company chose to focus on the personality. Mountain Dew, the ultra

sweet, odd-colour lemon line drink marketed by Pepsi, throughout its history had targeted

youthful drinkers. But, over time, the company steadily shifted its positioning from hick to

hip, with great success.

Procter & Gamble executed one classic example of this approach with its Ivory soap, which

was revived by promoting it as a pure and simple product for adults instead of just for babies.

Johnson & Johnson baby shampoo achieved success by virtue of a similar strategy in which

the company promoted the gentleness and everyday applicability of its shampoo to an adult

audience.

CADBURY 5 STAR

5 Star is the second biggest chocolate brand in the Cadbury portfolio. 5 Star is a heritage

brand which came to India in 1969. Currently, this brand has a market share of over 14%. 5

Star is a chocolate bar with caramel nut inside. The bar is known for its unique taste and has

been a favourite brand of all chocolate lovers. Over these years, this brand has established its

brand element golden colour firmly in the mind of the consumers. Although this brand lags

behind the market leader Dairy Milk, the company had made substantial investment in this

brand over these years. The brand has been relaunched more than 9 times in the last 15 years.

It‘s interesting to note the repositioning exercises that have been done on this brand over

these years.

1970‘s: 5 Star was positioned on the basis of its taste. The brand had the tagline

―Deliciously Rich, You would hate to share ".

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1980‘s: Saw the brand highlighting its soft and chewy nature. During this period the

brand also had the positioning based on ―Togetherness‘. 5 Star had the campaign

―Lingering taste of togetherness ".

1990‘s: Saw a major repositioning for the brand focusing on the energy factor. 5 Star

was positioned as Energy bar. The product had glucose hence gave instant dose of

energy.

1994: The brand used the tagline ―Reach out for stars‖, taking a cue from the name.

1997-1998: 5 stars took the youth wagon and positioned on the two attributes: energy

and youthfulness. The brand had the tagline ―Mera own energy zone ".

1999: The brand came out with the tagline "Dil hai to josh hai‖ again positioning itself

on the energy platform.

2000:-In the millennium, the brand came out with a variant 5 Star Crunchy which had

added rice crispiest to make it crunchier. The brand had the campaign with the

voiceover "Arrey "(surprise).

2005- It came with ‗thief‘ commercial, which urged consumers to be good citizens

with its tagline ―Ek acche nagrik bane, 5 Star khane walo ki madat karein!‖

Now a days, it introduced tag line ―Jo Khaye, Kho jaye‖ in different ways. Like in a TVC,

Taking the theme ―Jo khaye, kho jaaye‖ forward, the new commercial showcases how two

long lost friends Ramesh and Suresh are ecstatic to meet each other, only to keep forgetting

their meeting after getting lost in every bite of Cadbury 5 Star.

The brand had faced lot of competition throughout its lifecycle. The competition was not

from similar caramel chocolates but from brands like Kitkat and Cadbury's own brands CDM

and Perk. Another issue that the brand faced was the price-value proposition. Cadbury had

reduced the quantity of the brand drastically during 2000-2005 which hurt the brand very

much. Not only the bar was less filling, customers also felt that its price is too high.

Last year saw a rejuvenation effort for 5 star. The brand is being repositioned on the taste

platform. The new campaign gives the brand a new tagline ―Jo Khaaye, Kho Jayee"

meaning‖ Lost in the taste of 5 star ".This time 5 star is on a 360 degree marketing campaign

with added focus on digital media. The brand has a new website lostin5star.com where the

brand has tried to build a viral campaign. Along with the new campaign, a new variant has

been launched 5 Star Fruit and Nut. Like CDM, 5 Star is also targeting the youth market. 5

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Star is an example of consistent investment in long-term brand building. The brand has never

shied from experimenting and repositioning.

3. METHODOLOGY OF THE STUDY

Research Aim

The aim of this research is to empirically investigate the factor that leads to the need of Brand

Rejuvenation.

Research Objectives

1. To explore and examine the various factor leading to the need of Brand Rejuvenation.

2. To examine brand rejuvenation with context to Cadbury Five Star Chocolate and

strategies that helps in the process.

Research Design:

Sources of Data:

Primary Data: Questionnaire (a research tool) ,were sent to 18 sales and marketing

executives and various other respondent from places in Patna like P & M malls, Colleges and

schools.

Secondary Data: Published materials such as journals related to the research topic.

Sampling Method:

Questionnaire was taken from a journal which contained various factor arising to the need of

brand rejuvenation. Questionnaire was used to gain the responses about a few parameters of

brand rejuvenation. The major part of the questions included the need or the cause for brand

rejuvenation. The respondents were given 15 major causes for brand rejuvenation to choose

the most feasible cause. The sampling technique used for this study is Judgemental sampling

as mentioned above. They were asked to rate the factor on Likert scale of (!-5). It enabled us

to gather information from the targeted group of people easily and quickly.

Sample Size

For this study, a sample size of 60 has been taken, in accordance to the time limitation.

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Data Analysis

The data collect from various locations has been analyzed using the SPSS software. The

methods used for testing and analysis are Factor Analysis. And tool to measure was a

questionnaire.

Reliability Testing

We wanted to know the extent to which the items in our questionnaire were related to each

other. Reliability is basically the ability of questionnaire to produce the same results under

the same conditions. It is one of the qualities of a good questionnaire. SPSS was used for the

reliability testing.

Reliability Statistics

Cronbach's

Alpha N of Items

.72 15

Factor Analysis: This analysis was done to reduce the number of factor in the questionnaire.

4. FINDINGS

The KMO value came as 0.67. So the test was significant. From factor analysis, we found

that many factors were linear combination of potential factors.

KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of Sampling

Adequacy.

.67

Bartlett's Test of

Sphericity

Approx. Chi-Square 269.440

Df 105

Sig. .000

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Like, obtaining category leadership, product attributes were lacking, Lack of product named

these factors as Faculty product and product leadership. Similarly we combined all other

remaining factor to four different factors as follows. Thus we combined together as follows.

Rotated Component Matrix

Component

1 2 3 4 5 6

VAR00008 .745

VAR00014 .656

VAR00003 .604

VAR00013 .530

VAR00005 .520

VAR00006 .870

VAR00004 .733

VAR00011 -.759

VAR00010 .711

VAR00007 .822

VAR00015 .772

VAR00002

VAR00001 .881

VAR00009 .845

VAR00012 .535

Extraction Method: Principal Component Analysis.

Rotation Method: Varimax with Kaiser Normalization.

a. Rotation converged in 12 iterations.

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5. ANALYSIS AND INTERPRETATION

Faulty Product and Product Leadership

The need for Brand Rejuvenation is mostly necessitated due to Faulty Product,

Confused Positioning, and Unclear Communication or for obtaining Category Leadership. In

our Factor Analysis too, these factors were the first loading. The factors are :-

1. Product attributes were lacking

2. Lack of product understanding by consumers

3. Un-tasty Product

4. Confused positioning

5. Obtain category leadership.

Gaining Image and Market Share

One of the major reasons for Brand Rejuvenation is for gaining Market share and

pepping up the image of the Brand. This is our second factor as given by the factor analysis.

Sales & Product Differentiation

Generally in the Brand Life Cycle, the brand at times gets into decline stage. The

option left with most of the marketers generally is either milk the brand or to revive it. The

decline is generally when product differentiation is absent or there is declining sales. Brand

Managers need to take concrete steps in order to rejuvenate the brand.

Brand Image & Promotion

The factors in our factor analysis for Brand Rejuvenation are Spike in promotion

activity & Improving brand imagery.

Competition Effect

The ultimate reason for all the Branding exercises undertaken by the marketing

department is to have an upper hand while facing competition. Established Brands convey a

sense of confidence and thus helps in the long run to the organization. The factor loading is

Loss of market share due to competition.

In order to make successful brand rejuvenation, we have to bring in a synergy between the

visions and mission statements of the company taking in consideration about the company‘s

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intents, strategies, facts and analysis. The management plays a critical role in the success of

the brand rejuvenation process.

Our study has related the various purposes behind brand rejuvenation and the various

methods available for brand rejuvenation. If the cause for brand rejuvenation is the product

itself, i.e., the product has lost its appeal or usage, and the market is not accepting the brand,

then the product attributes have to be changed and the company may bring out newer uses of

the product so that the product can be re-launched. .

When the cause for brand rejuvenation is the customers, it prompts the company to change

the perception in the minds of the consumers. Bringing out new uses will also affect the

consumers and thus change the brand image.

If the reason for rejuvenating a brand is the competition, which has affected the sales and the

image of the brand, the company may have to undertake the process in more than a couple of

ways. It could be done through entering into newer markets or changing the brand elements

and the perception in the minds of the consumers so that the market

share is picked up. If the brand rejuvenation is prompted as a result of the failure of the

strategies of the brand, the company may have to get into strategies that may be focused

towards the changing of brand image, perception in the minds of the consumers and

competitors or entering into newer markets and also making a better positioning strategy.

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6. CONCLUSION

From factor analysis, we got five different factors which arises the need for brand

rejuvenation. In the competitive market, to sustain with profits and to stop the brand from

being declined, brand rejuvenation of the product needs to be done. Products like, Scissors of

ITC, Ghadi Detergent, Repositioning of Dabur, Kellogs etc. have been sustained over the

years because of the revitalization of brands. They were successfully re-launched and were

able to get stronger position. Ansoff‘s Matrix is one of the way how companies can revitalize

their brands by means of either Market Development or Product Developemnt.

5 Star, is the second biggest chocolate brand in the Cadbury portfolio. It invested in Brand

Rejuvenation of its brand over the years. The brand is being repositioned on the taste

platform. The new campaign gives the brand a new tagline ―Jo Khaaye, Kho Jayee"

meaning‖ Lost in the taste of 5 star ".This time 5 star is on a 360 degree marketing campaign

with added focus on digital media. The brand has a new website lostin5star.com where the

brand has tried to build a viral campaign. Along with the new campaign, a new variant has

been launched 5 Star Fruit and Nut. Like CDM, 5 Star is also targeting the youth market. 5

Star is an example of consistent investment in long-term brand building.

7. RECOMMENDATIONS

Based on our analysis and observations, we would like to recommend that 5 Star should focus

on the following attributes as it has been doing.

Improved Product Quality

Improving Product Image

Clearly Communicate its Product Differentiation from its competitors

Effectively Communicate its Brand

Take on Competition Head On.

Brand Rejuvenation has become a very important factor today because introducing a brand

would take ten times more money than rejuvenating an existing brand.

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8. BIBLIOGRAPHY Atkin, C. a. (1983). Effectiveness of Celebrity Endorsers. Journal of Advertising Research , 57-

61.

Dixit, Y. (2005). INDIAN AWARD WINNING ADVERTISEMENTS:A CONTENT ANALYSIS.

Duetsblog. (n.d.). Retrieved 2011, from Brand Revitalization: Branding Fountain's of Youth:

http://www.duetsblog.com/2010/06/articles/guest-bloggers/brand-revitalization-brandings-

fountain-of-youth/

Endorgan, B. (1999). Celebrity Endorsement: A literature review. Journal of marketing

management , 291-314.

Friedman, H.H., L. Friedman. (1979). Endorsers effectiveness by product type. Journal of

Advertising Research , 63-71.

Gerard J. Tellis. (2004). Effective Advertising. U. K: Sage Publications.

Header Widget. (2011). The Spirit of Collection. Retrieved 2011, from Brand Revitalisation

Strategy: http://thespiritofcollection.com/brand-revitalization-advertising/

Kevin Lane Keller. (2009). Strategic Brand Management. Pearson Education.

Kulkarni, A. a. (2005). Impact of Celebrity Endorsement on Overall Brand.

http://www.indianmba.com/Occasional_Papers/OP88/op88.html .

Kurzman, C., Anderson, C., Kaj, C., Lee, Y. o., Silver, A., & Van Ryn, M. W. (2007). Sociological

Theory. 347-367.

Larry Light & Joan Kiddon. (2010). Brand Revitalization. Dorling Kindersley India Pvt. Ltd.

Leon G. Schiffman, Lealie Lazar Kanuk, S. Ramesh Kumar & joseph Wisenblit. (2010).

Communication & Comcumer Behaviour: Celebrities. Pearson.

Light, L. (2009). Ad Age CMO Strategy. Retrieved 2011, from http://adage.com/article/cmo-

strategy/mcdonald-s-larry-light-rules-brand-revitalization/137647/

McCracken, G. (1989). Who is the celebrity endorser? Cultural foundations of the

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Michael T Ewing, David A. Fowlds & Ian Sepherd. (n.d.). Brand Revitalization & Strategic

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Perner, L. (2009). Consumer Behaviour: The pshycology of Marketing.

http://www.consumerpsychologist.com/.

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Seno, D & Lukas B.A. (2007). The equity effect of product endorsement by celebrities: A

conceptual framework from a co-branding perspective. European Journal of Marketing , 121-

134.

Spielman, H. (1981). The celebrity sell: making it work. Marketing Times 28 , 13-14.

Zeithaml, V. (n.d.). The new demographics and market fragmentation. Journal of marketing:

http://www.proquest.umi.com .

http://www.brandblueprint.com/articles/Brand_Rejuvenation.pdf

http://www.citeman.com/2921-brand-rejuvenation-with-examples.html

9. Appendices:

http://www.brandblueprint.com/articles/Brand_Rejuvenation.pdf

http://www.citeman.com/2921-brand-rejuvenation-with-examples.html

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Questionnaire

Section I

Demographic Factors

NAME _________________________ GENDER ________

QUALIFICATION_____________________________

Age

Below18 18-25 26-35 36-50 51 and above

Occupation

Service Business Student Professional

Section II

According to you which of these Factors are Affecting Rejuvenating Brands in

context to Cadbury 5-Star. Patna. Please fill according to instruction in bracket

given below

( 5-Strongly Agree ; 4-Agree ; 3-Neutral ; 2-Disagree ; 1-Strongly Disagree )

27

The need for Brand Rejuvenation arises most when,

Loss of market share due to competition

Strongly Disagree 1 2 3 4 5 Strongly Agree

Product category is declining


Obtain category leadership


Build or increase market share


Product attributes were lacking


Pep up brand image


Spike in promotion activity


Lack of product understanding by consumers


Modernize and increase visibility


Product differentiation is absent


Declining sales


Packaging


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Taste


Confused positioning


Improving brand imagery


We sincerely “Thank You” for taking out time to fill out this questionnaire and for

providing valuable information which will be used for our project work, market research

studies and reports.

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Documents

Brand Rejuvenation by Surbhi, Swarnim, Swati & Vivek