In the past decade, Procter & Gamble has transformed Oil of Olay from "oil of old lady" into Olay Total Effects -- one of its strongest brands. Is one of your brands a diamond in the rough? The authors outline five key questions that can help you assess whether or not to invest in brand reinvention. If a brand can answer all of them in the affirmative, chances are good that it has the potential to be transformed from a laggard into a star. The authors present the five components of their Brand Reinvention Framework: proposition, target, offerings, production, and channel, describing in detail how to approach each element.
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