Brand Revitalization

Topics: Brand, Advertising, Brand management Pages: 15 (2215 words) Published: July 18, 2014
Brand selected:
Wing On Travel Agency

Content Page
Introduction .................................................................................................................. 2 Company Background ................................................................................................. 2 Revitalization strategies – Expanding brand awareness .......................................... 3 Revitalization strategies –Improving the brand image ............................................ 5 Brand Associations ..................................................................................................... 5 Social Responsibilities (positive image) ................................................................ 5 Interactive Advertising (young image) ................................................................... 6 Repositioning ............................................................................................................. 8 Changing Brand Element - Logo Design ........................................................... 8 Changing Brand Element - Stores Design.......................................................... 9 Revitalization strategies –Entering new markets...................................................... 9 Expanded to overseas markets ................................................................................. 10 Opened up new business .......................................................................................... 10 Opened up new department ..................................................................................... 10 Cooperated with new business partner .................................................................... 11 Conclusion .................................................................................................................. 12 Reference .................................................................................................................... 13

1

Introduction
Brand equity is an important asset of a company, once it dropped, the revenue and profit would also be affected correspondingly. Revitalization is one of the ways to save some brands with declining brand equity. According to Aaker (1991) said, “the revitalization of a brand is usually less costly and risky than introducing a new brand, which can cost tens of millions and will more likely fail than succeed” (242). Thus, revitalization is also a cost effective way for company to save their business. Successful example like a South Africa car brand Mazda, it concentrated on some new values like its superior quality and modern technology which can gave consumers irresistible excitement, the brand was revitalized and successfully refreshed. (Michael, David and Ian 2005, 20) Thus, revitalization can be an important turning point of some companies especially some declining companies. In the following entire sections, a famous travel agency of Hong Kong, Wing On Travel, will be discussed regarding to its revitalization project which was carried years ago.

Company Background
Wing On Travel is a Hong Kong branded travel agency. It was established in 1964 and it is one of the market leaders within the travel industry. It now owned 17 stores which distributed evenly in different districts of Hong Kong. Out of Hong Kong, it also built up their network in some places such as Macau and England.

Their company goal is to provide superior quality and large variety of services to their customers in order to be the only travelling market leader in Asia. Now, their products can be divided into 5 main types: the tour group, which accounted for about 76% of their total revenue, the independent travel package, the international cruise tour, the study tour and the Priority Club which is for the high-consumption group of people.

2

Turnover (in thousand)
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0

performance

Data From:

Table 1 – Wing...
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