Effectiveness Of Old Brand Revitalization Strategy

Old brand is the essence of Chinese traditional culture, but also our commercial culture treasure. They mostly glorious moment, once people familiar with the brand, and has a profound historical and cultural heritage. But many old and famous brand due to poor management, decline gradually and exit the stage of history over time. Surviving old brand is also facing a bottleneck. How to revitalize old brands become concern of the whole society, and brand revitalization is an important way to rebuild old brand. This paper study brand revitalization strategy in term of innovation and nostalgia, using grounded theory based on old brand A Lynx review.This paper explored the following four questions:First, brand A innovate and carried heritage from what aspect; Second, how consumers evaluate these revitalization strategies; Third, the effect of A brand’s innovation strategy; Fourth, for the current status of old brand, we should take what strategy to revitalize the old brand. Through empirical research, we draw the following conclusions:First, old brand revitalization strategies include both innovation and nostalgia. Innovation strategy includes new packaging, new product features, product line extensions, new uses and new channels,and nostalgia including taste, quality, brand association and brand recognition; Second, innovation and nostalgia will affect consumer attitudes toward the brand, thereby affecting consumer buying behavior; Third, this paper also confirmed reference group influence regulation of consumer brand attitude, user characteristics and purchase decision factors will to some extent affect consumer buying behavior; Fourth, consumers have positive evaluation on new product features, brand association and brand awareness, in new packaging, new uses, new channels, product line extensions and taste, consumers evaluation is mixed, but overall is still positive. Consumer’s evaluation of quality of old brand is lowest, which need attention and improvement.