In order for the people to take a fresh look at its brand, the American red cross used a brand revitalization strategy
When a product enters the maturity stage of its life cycle and profits have significantly declined, a brand revitalization marketing plan is used. It is an effort to reintroduce the product to the market and protect the customers who are the sources of equity. In a cutthroat industry, brand rejuvenation aids in shattering stereotypes and luring in the intended clientele.
Brand revival is required to address specific problems that damage the company's reputation or frighten customers or employees. It is a marketing tactic that is typically employed when a product reaches the PLC maturity stage and profits begin to rapidly decline as the market becomes saturated. Compared to the introduction of a fully new brand or product, it is less expensive and hazardous.
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