a. & Other Stories is a fashion brand offering women products that range from re

Question

a. & Other Stories is a fashion brand offering women products that range from readymade garments to beauty products.

Brand extension is the use of existing brand name to launch a new product.

As the company is already an established brand name in women’s categories it can launch new products for girls as well starting from infants, to children and then teenagers. This strategy will work in favor for the company as its new line of girl clothing will make acceptance of the new product easy. Secondly company’s cost for developing a new brand will be saved and it will also be able to seek efficiencies in the form of better utilization of its promotional, advertising and selling costs.

b. Brand revitalization options that & Other Stories may pursue are introduction of revolutionary changes and not evolutionary changes by focusing on their values that are clear as well as relevant. Different avenues for brand revitalization that & Other Stories will pursue are – increased usage of its products, developing products that can have new uses, entering new markets throughout the world, repositioning of its brands as well as of its products, augmenting its product offerings and considering relevant brand extensions.

c. & Other Stores can improve their brand awareness and brand image by focusing on the perception that people have of the brand and taking steps to augment and strengthen that perception on a sustainable basis. Products of & Other Stores are perceived to be based on the elements of quality and value and the company should be consistent in its quality offerings. The company should also significantly invest in marketing, promotion and advertising of its products and develop steps that will increase brand loyalty. All these measures will help & Other Stores to improve its brand awareness and brand image in the long run and on a sustainable basis.

d. & Other Stories should have a strong PR and a crisis handling team that will help in doing damage control in case of crisis and develop alternate plans so that the company’s operations remain on track. & Other Stories should, in case of a public crisis, should start with owning its mistake. Secondly the company should be transparent in its handling of the crisis and communicate with all the stakeholders in a clear and lucid manner. The company should highlight steps that it has taken to prevent the recurrence of such a crisis again in the future. It should also introduce new incentives in the form of discounts or bonus gift cards so as to be able to recapture lost business.

Explanation / Answer

" & other stories" is a fashion brand, Develop a plan to ensure s sustained growth for " & other stories". Follow the following steps to establish your plan:
a.Evaluate Brand Extension opportunities and possibilities for success and failures
b.Describe the brand revitalization options
c.Outline any strategies that can be used to improve brand awareness and brand image
d.If a crisis exits, identify key steps in managing it.
Summarize a plan for brand growth and sustained growth of Brand Equity. Make sure you justify your plan through your research.

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