Analyzing brand revival strategies with a meta-synthesis approach

Abstract

In today's world, the dynamic economy and fierce competition in the business arena have faced brands with increasing challenges. Meanwhile, old brands that were once at their peak are gradually losing their position in the market and may even be forgotten by consumers. To prevent this and maintain their market share, many of these brands have turned to brand revival strategies. The goal of these strategies is to restore the brand's lost reputation and popularity and renew the relationship with customers. This is done through the renovation and reconstruction of the brand identity, the provision of new and attractive products and services, as well as the use of new marketing and advertising methods. In fact, brand revival is an attempt to return to the peak days and compete again in the market. The purpose of the present study was to examine brand revival strategies using the meta-synthesis method. In this regard, using the seven-step method of Sandelowski and Barroso, the required data were extracted from scientific and research articles published over a 24-year period (1990-2014). After an initial review, 24 articles were selected for more detailed analysis. The extracted data were analyzed using MAXQDA 2020 software and based on the conceptual model of the research. The results of this analysis led to the identification of 94 sub-strategies, which were categorized and presented in the form of 7 main strategies. The main strategies for brand revival include various items that can be broadly categorized as follows: brand identity and image management to clarify and improve audience understanding of the brand, product innovation and development to meet current market needs and attract new customers, integrated marketing to create coordination and coherence in all marketing and advertising activities, customer relationship management to create a sustainable and effective relationship with customers and increase their satisfaction, redefining market positioning to determine the appropriate position for the brand in the competitive market and attract target customers, brand heritage and authenticity management to preserve and enhance the brand's historical and cultural values, and finally organizational change management to create the necessary changes in the organization's structure and processes to support brand revival strategies.