Brand Modifications

You must modify the brand in a timely manner and adequately before anybody else
compels you to do
so. Brand modifications mainly refer to the following areas:

1. Refreshing its acceptable features

2. Corrections for adaptations to new market conditions

3. Change in presentation of the brand

4, The brand should represent equal or more amount of perceived value

5. It should have bigger value addition strength to suit the value chain of the
customer.

‘The financial aspect of brand modification mainly relates to R&D, which requires a
fantastic
market intelligence base. The sustainable advantage of the brand also depends on
its wider suitability
in the value chain of the customer. Studying the customer's changing requirements
is a major prerequisite
fot modifying a brand,

Brand Replacement

It is interesting to note that very often even though a product dies, a brand does
not. The reverse is
also possible. The most complex situation is when both the product and the brand
are very sick and
are on their deathbed. One has to use the chemistry of market database, financial
engineering and
courage to rectify such situations. Brand replacement, therefore, could be actual
or notional. A detailed
cost-benefit analysis has to be done of the following strategic combinations: