Project Report

On

Rejuvenating Brands-Cadbury Five Star

Submitted to:

Prof. Anup Raj

By:

Group-9
Term-V

Batch-2010-12

OLD PACK

New Pack

EXECUTIVE SUMMARY
The objective of the study was to explore and examine the various factors leading to the need of Brand Rejuvenation. And also to examine brand rejuvenation with context to Cadbury Five Star Chocolate and strategies that helps in the process. The report contains a brief introduction of branding, brand rejuvenation, need for rejuvenation and method to rejuvenate. It also contains a detailed view of the tasks, which have been undertaken to find out factors influencing need for brand rejuvenation. Various sets of questionnaire have been prepared to find out need for brand rejuvenation and issues in brand rejuvenation. Information has been gathered from both primary using questionnaire as well as secondary sources. Data was collected through an interview with the respondent using questionnaire as research instrument. The tools used were Reliability test and Factor analysis through SPSS. Through Factor analysis, we found that brand rejuvenation is required when there is loss of market share due to competition, when there is requirement of product development, confused positioning and when there is need to differentiate the brand image. From, empirical study of Cadbury five star we found that the brand has been re-launched more than 9 times in the last 15 years by using brand rejuvenation strategies and also with help of Ansoff matrix. The brand has always focussed on improving quality, communicating clearly to consumers and improving product image. We concluded that brand rejuvenation is a very important factor as introducing brand consumes ten times more money than an existing one.

TABLE OF CONTENT:
EXECUTIVE SUMMARY ....................................................................................................................... 3 ACKNOWLEDGEMENT ....................................................................................................................... 5 1. 2. INTRODUCTION ......................................................................................................................... 6 LIETRATURE REVIEW .................................................................................................................. 7 BRAND....................................................................................................................................... 7 BRANDING ................................................................................................................................. 7 BRAND LIFE CYCLE ..................................................................................................................... 7 BRAND REJUVENATION .............................................................................................................. 9 NEED FOR BRAND REJUVENATION ........................................................................................... 10 METHODS OF BRAND REJUVENATION ...................................................................................... 12 Managing how existing users perceive a brand ........................................................................ 14 Improving brand image............................................................................................................ 15 Repositioning the Brand .......................................................................................................... 15 Changing Brand Elements ........................................................................................................ 15 Entering New Markets ............................................................................................................. 16 CADBURY 5 STAR ............................................................................................................................. 16 3. METHODOLOGY OF THE STUDY ............................................................................................... 18 Research Aim .............................................................................................................................. 18 Sources of Data:....................................................................................................................... 18 Reliability Testing ....................................................................................................................... 19 Factor Analysis: ........................................................................................................................... 19 5. 6. 7. 8. 9. ANALYSIS AND INTERPRETATION ......................................................................................... 21 CONCLUSION ........................................................................................................................... 23 RECOMMENDATIONS .............................................................................................................. 23 BIBLIOGRAPHY ......................................................................................................................... 24 Appendices: ............................................................................................................................. 25

ACKNOWLEDGEMENT
First and foremost we extend our heartiest gratitude to Chandragupt Institute of Management, Patna for giving us an opportunity to work on this project titled Brand Rejuvenation of Cadbury 5 star. It has been an enriching experience for us to undergo our Brand and product management project under Prof. Anup Raj. It helped us understand the phenomenon of Brand Rejuvenation. We would like to express our sincere thanks to all who have supported us during the project. We also take the opportunity to thank everyone for giving their valuable time, suggestions and genuine answers for the questions intended for primary data collection at various stages of our projects. Last but not least I thank all other for their support in completion of this project as a part of our academic curriculum.

Group no.-09 Brand and product management PGDM 2010-12 CIMP

1.

INTRODUCTION

Brand creates the intellectual and emotional associations with a company, product or person. The brand is the beacon of expectations and the steward of the consumer relationship. Brand is a continuum that starts with the most generic form (the commodity) and ends with that most unique and specific of things: a brand. Brands are not born as brands, but they are born as commodities. For example, more than a century ago, John Pemberton set out to create a tonic, not a global brand named Coca-Cola. And in 1962, when Bill Bowerman and Phil Knight each chipped in dollars 550 to set up Nike, their goal was to make running shoes for athletes, not create a global leisure brand empire. In general the word Brand is expressed in a qualitative way, the essence of the brand lies in each of our unique, subjective interpretations, in our understanding of the brandwhich is guided by cultural context, interactions we have had with and about what we are evaluating, and our own personal conception of the world. The science of branding is about designing for and influencing the minds of peoplein other words, building the brand. In virtually every product category, there are examples of once prominent brands that have fallen on hard times and in some cases even completely disappeared. Brands do have life cycle which may consist of a number of phases from inception to launch, growth, maturing, decline, revitalization, and retirement. Brand rejuvenation gives a second life to the product. It is a process in which a brand on the verge of retirement is brought back to life to regain markets.Revitalizing a once-popular dormant brand can be a highly profitable strategy under the right circumstances. Today, the marketplace is filled with anecdotal success stories of how brands have been brought back from deaths doorstep. Some of the cases have been adopted in order to understand the various needs for, methods of and issues involved in brand rejuvenation. The study tries to look into the various needs and method for brand rejuvenation. And also tries to look the brand rejuvenation of Cadbury 5 star and the reason behind this.

2. LIETRATURE REVIEW
BRAND

The word brand is derived from Old English meaning, burning stick. The ancient Egyptians used livestock branding as early as 2700 BC as a theft deterrent, as stolen animals could then be readily identifiable. Around the 10th century merchants marked simple linear designs to prove ownership of goods that were missing due to shipwrecks, pirates, or other mishaps. They were also useful for the tracking of goods by people who were illiterate. Keller borrows the definition from the American Marketing Association to explain the concept brand: name, term, sign, symbol, or design, or a combination of the intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition. Brands are always created and are supposed to give a product-meaning to the consumer, which means in other words, that different attributes will be associated with that product. Keller also mentions that not only physical products can be branded, but also services, retailers and distributors, people and organizations, sports, art and entertainment tools (e.g. movies, etc.), but also geographical locations. Based on this definition, one can go one step further and define different brand elements, for example the brand name, symbols, package, logos, etc. (Keller).
BRANDING

The concept of branding in the 21st century grew out of the packaged goods industry, and the branding philosophy has come to include much more than just creating a way to recognize a product or an organization. Branding in the new millennium is used to create an emotional attachment to products and organizations. As a result the stakes involved in launching, maintaining, and evolving a brand are much higher today in the global economy, than they were in the past. A brand is a powerful strategic weapon. It distinguishes a company from its competitors. It defines to the stakeholders, which is the company, what the company believes in and what they may expect from the company. A great brand is a story that is never completely told each new product, promotion or advertisement is just another passage, one more chapter, and one more revealing insight into a complex yet familiar plot.
BRAND LIFE CYCLE

There is a debate in branding circles as to whether or not a brand can have a "life cycle" of its own, or whether its peaks and troughs and just a symptom of managing the brand elements which are, its logo, personality, positioning etc.
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In a products lifecycle, the peaks and troughs can come in a quicker timeframe, making the cycle more obvious. A brand can have a rise, and then fall out of favour, to be superseded by a new and improved brand. The fact that branding process takes many years affects the universal acceptance of the existence of a brand lifecycle. Without careful management, brands can follow the general pattern of a product lifecycle: moving through introduction, growth, maturity, and decline stages in a relatively rapid fashion. Well-managed brands, however, can prosper almost indefinitely. Numerous studies have shown that many brands that were leading the market years ago are still in that position. To a large extent it has been proved difficult for a challenging brand to overtake them. This means that they have the ability to extend the life cycle or, possibly, the effective marketing of these brands has meant that the life cycle, in its purest form, does not exist. The brand must remain relevant in an ever-changing marketing environment. It must continue to provide consumer value. Optimizing opportunity for the brand is something that should never go out of focus throughout the lifecycle of the brand. Even as considerable time and investment are made in creating and developing a brand in the lead up to launch, important consideration needs to be given to maintaining and managing the opportunity for that brand following the launch. One of the issues facing brands today and in the future is the apparent shortening of the product life cycle. While many brands continue to lead their markets after many years, others have short life cycles and are frequently designed with this in mind. Brands either live or die. Certain branded products may "die" from obsolescence or changing consumer tastes, but brands can be rejuvenated with new products and services. With well-conceived strategies, a brand can be kept relevant to consumers and last almost indefinitely. Stories of Barbie, Colgate and Kodak justify the possibility. According to a model (Figure 1) used by a consultant company Landor, a brands position in the life cycle can be known by plotting the brands strength, which is measured with parameters of differentiation and relevance and stature, is measured with parameters of
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esteem and knowledge. These four parameters are consistently linked with a brand's ability to deliver revenue and profit for its owner no matter the category, no matter the country, no matter the age of the brand. Understanding the position of a brand in its life cycle plays a critical role in the brand managers decisions. A brand can undergo rejuvenation only if it has the potential to come back strongly into the market. It should have a high strength, meaning that the awareness and the knowledge about the brand should be high even the brand may not have a high score in strength.

BRAND REJUVENATION

While products often have a lifecycle, we have seen that brands can be eternal. When brands get sick, they can be revitalized. Brands can maintain differentiation, esteem and awareness and thus be able to sustain for a long time. Brand managers may breathe new life into the brand when it seems to be losing its identity. This can be achieved by focusing on renovating offerings. Ghost Brands are brands that are shadows of their former selves. They walk the fine line between life and death, and are often demoted to the bottom shelf, which is the death row in many stores. The companies, which own these brands, have four options: 1) Revitalize them, 2) Milk them, 3) Sell them, or 4) Kill them. Brand Rejuvenation or Revitalization is a major overhaul of a brand, starting with its positioning and proceeding through creative regeneration of the brand identity. Brands like McDonald's pursue an ideal whereby they simply peel off their old skin and relaunch themselves as a new brand. McDonald's new look and new menu offering are methods of
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rejuvenating the brand. Brands like Dhari Detergent, Hamam, Lifebuoy, Horlicks, Bourborn, and Nescafe have all worked hard at trying to rejuvenate their image in the consumers minds. Considering the fact that product life cycle and brand life cycle are related, we can understand the requirement of brand rejuvenation by the following figure. Here we see that the rejuvenation strategies are named as injections of new life. These help the company increase the sales and thus improve the brand image of the product.

To prolong the life cycle of a brand or product an organization needs to use skilful marketing techniques to inject new life into the product. Products with fewer sales and which are on the brink of exit with damaged brand equity can be termed as the Ugly Ducklings. These include old brands supposedly on their last legs; brands with a loyal but shrinking consumer following; unglamorous cash cows; brands that have built the company; modest volume brands which have had the profit; beasts that never quite broke out of the pack; brands that are put at the lower bottom of the reports.
NEED FOR BRAND REJUVENATION

Brands can be understood in four basic stages, without using the life cycle pattern. Brands that have made money, brands that are making money, brands that will make money and brands that will be making money. Brand Rejuvenation can be a formula applicable to brands that are in the first two stages. They need to be brought to level three or four. In simple terms, Brand Rejuvenation is the effort to bring a brand which could not make money into the money making bracket, with a new positioning or communication strategy.

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Product attributes

Brand audit

Brand Rejuvenatio n

Stake holders

Corporate vision ,mission So, Need to revitalise the brand arises when-

Strategies

A new competitor might have taken over the category and the company is struggling to generate revenues. The whole product or service category may be declining. To regain the position in the customer mind share. The target market for the brand is aged. To achieve high impact and recognition. As Ogilvy & Mather's Normart Berry once remarked: The brands most likely to respond to revitalization efforts are those that have clear and relevant values that have been left dormant for a long time, have not been well expressed in the marketing and communications recently, have been violated by product problems, cost reductions, and so on. If it is found that the brand really does not have any strong values, chances are that the product or business strength in the past was a function simply of performance and spending characteristics and that, in fact, according to our: definition, it never really became a true brand. Bringing these brands back to life is more like starting from scratch. It really isn't revitalization. At the level at which the buck stops and budgets are decided rejuvenation plays a critical role for a brand to come back to life. Some companies believe reputation matters more than
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anything else and this is true as the stakeholders of the company already have an impression of the company. Every day, these impressions dictate how people behave towards the company. The question is how much of attention needs to be given to this. This determines whether a company chooses to actively manage these perceptions or leave them to chance. The sum of most of these impressions can be called youre as a brand. It tells the world what it can expect from the company.
METHODS OF BRAND REJUVENATION

While going for a repositioning, it is important to accurately and completely characterize the breadth and depth of brand awareness; the strength, favourability, and uniqueness of brand association and brand responses held in consumer memory; and the nature of consumer-brand relationships. The brand equity in the minds of the customer has to be analyzed. Decisions must then be made as to whether to retain the same positioning or to create a new one and, if so, which positioning to adopt. The positioning considerations can provide useful insights as to the desirability and deliverability of different possible positions based on company, consumer, and competitive considerations. Sometimes the positioning is still appropriate, but the marketing program is the source of the problem because it is failing to deliver on it. In these instances, "back to basics" strategy may make sense. In other cases, however, the old positioning is just no longer viable and a "reinvention" strategy is necessary. Revitalization strategies obviously involve a continuum, with pure "back to basics" at one end and pure "reinvention" at the other end. Many revitalizations combine elements of both strategies. With an understanding of the current and desired brand knowledge structures in hand, the customer-based brand equity framework again provides guidance as to how .j to best refresh old sources of brand equity or create new sources of brand equity to ,y achieve the intended positioning. According to the model, two such approaches are possible 1. Expand the depth or breadth of brand awareness, or both, by improving consumer recall and recognition of the brand during purchase or consumption setting 2. Improve the strength, favourability, and uniqueness of brand associations making up the brand image. This approach may involve programs directed at existing or new brand associations. By enhancing brand salience and brand meaning in these ways, more favourable responses and greater brand resonance can result. Strategically, lost sources of brand equity can be
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refurbished and new sources of brand equity can be established in the same three main ways that sources of brand equity are created to start with: by changing brand elements, changing the supporting marketing program, or leveraging new secondary associations. The remainder of this section considers several alternative strategies for affecting the awareness and image of an existing brand to refresh old sources or create new sources of brand equity. Making Old Brands New: - Many once-strong brands wither away into obscurity because their brand managers lose sight of the customer, and choose to attack the competition instead. Brand managers need to focus on the three ways customers interact with a brand. Specifically, managers need to understand how customers perceive, choose, and use the brand. This is because, when most people buy products, they buy 1 or 2 at a time. They anchor on a low number (like 1 or 2), then buy more if the product's on sale. When promotions suggest high numbers people shift their reference point to the higher number, and buy more. Profit pressures on mature brands lead some companies to focus on the competition at the expense of the customer. In the face of these pressures, companies can either fight the competition or shore up the loyalty of existing customers. Increasing customer loyalty has both short and long term benefits, but companies must understand the interaction points between customer and brand, which talks about how customers perceive a brand. In mature brands this point is very essential. The product might have fallen out of favour, or the household might already have the product in inventory and it must be used up before it will be bought again. In these cases choice can influence perceptions and then usage or usage can influence perceptions and then choice.

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So, Brand Rejuvenation can be done by; 1. Managing how existing users perceive a brand 2. Expanding brand awareness 3. Improving brand image 4. Repositioning the brand 5. Changing the brand image 6. Entering into new market
Managing how existing users perceive a brand

Associate the Brand with Relevant Goals: over time, consumer wants and needs change. Sometimes an old mature brand must reposition itself as a viable tool to achieve these new goals. Cadbury's Dairy Milk has recently launched a new campaign Shubh Aarambh" (meaning Auspicious Beginning). The Shubh Aarambh campaign reinforces the occasion based positioning of Dairy Milk. The brand has been trying to position itself as a symbol of enjoyment and celebrations. Indians have the tradition of sharing sweets on auspicious occasions and also when one initiates a venture/activity. Whether the activity is small like writing an exam or huge like starting a company, sharing of sweets is an integral part of the event. The belief is that good things happen when one starts a venture on a positive note (like sharing sweets).
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Refresh Favourable Perceptions: this is the backbone of the nostalgia campaigns that have resurrected Onida and Hero Honda CD100. By calling up past memories and positive perceptions of a product, the consumer will be more open to any new messages the marketer is sending. Mirc Electronics Ltd, decided to re-launch its well-known Onida Devil campaign to help the brand regain its lost charm. For long, the Onida Devil has been the face of Onida, along with the catch line Neighbours Envy Owners Pride.
Expanding brand awareness

With a fading brand, often it is not the depth of brand awareness that is a problem- consumers can still recognize or recall the brand under certain circumstances. Rather, the breadth of brand awareness is the stumbling block-consumers only tend to think of the brand in very narrow ways. Therefore, one powerful means of building brand equity is to increase the breadth of brand awareness, making sure that consumers do not overlook the brand and that they will think of purchasing or consuming it in those situations in which the brand can satisfy consumers' needs and wants.
Improving brand image

Although changes in brand awareness are probably the easiest means of creating new sources of brand equity, more fundamental changes are often necessary. A new marketing program may be necessary to improve the strength, favourability, and uniqueness f brand associations making up the brand image. As part of this repositioning to the existing positioning any positive associations that have faded may need to be bolstered, any negative associations that have been created may have I be neutralized, and additional positive associations may have to be created.
Repositioning the Brand

In some cases, brand repositioning requires establishing more compelling points of difference. This may simply require reminding consumers of the virtues of Arm & Hammer Baking Soda is a perhaps the most recognized example of the diversified innovative applications of the product. Baking soda, primarily used for cooking uses, is now found in many household refrigerators as a deodorizer or in bathrooms for dental hygiene. Kellogg's Corn Flakes ran a successful ad campaign with the slogan "Try Them Again for the First Time."
Changing Brand Elements

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Often one or more brand elements must be changed to either convey new information or to signal that the brand had taken on new meanings because the product or some other aspect of the marketing program has changed. The brand name is the most difficult to change. Packaging, logo and other characters may be changed.

Entering New Markets

Positioning decisions require a specification of the target market and the nature of competition to set the competitive frame of reference. The target market or markets for a brand typically do not constitute all possible segments that make up the entire market. In case of Mountain Dew, the company chose to focus on the personality. Mountain Dew, the ultra sweet, odd-colour lemon line drink marketed by Pepsi, throughout its history had targeted youthful drinkers. But, over time, the company steadily shifted its positioning from hick to hip, with great success. Procter & Gamble executed one classic example of this approach with its Ivory soap, which was revived by promoting it as a pure and simple product for adults instead of just for babies. Johnson & Johnson baby shampoo achieved success by virtue of a similar strategy in which the company promoted the gentleness and everyday applicability of its shampoo to an adult audience.

CADBURY 5 STAR
5 Star is the second biggest chocolate brand in the Cadbury portfolio. 5 Star is a heritage brand which came to India in 1969. Currently, this brand has a market share of over 14%. 5 Star is a chocolate bar with caramel nut inside. The bar is known for its unique taste and has been a favourite brand of all chocolate lovers. Over these years, this brand has established its brand element golden colour firmly in the mind of the consumers. Although this brand lags behind the market leader Dairy Milk, the company had made substantial investment in this brand over these years. The brand has been relaunched more than 9 times in the last 15 years. Its interesting to note the repositioning exercises that have been done on this brand over these years. 1970s: 5 Star was positioned on the basis of its taste. The brand had the tagline Deliciously Rich, You would hate to share ".

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1980s: Saw the brand highlighting its soft and chewy nature. During this period the brand also had the positioning based on Togetherness. 5 Star had the campaign Lingering taste of togetherness ".

1990s: Saw a major repositioning for the brand focusing on the energy factor. 5 Star was positioned as Energy bar. The product had glucose hence gave instant dose of energy.

1994: The brand used the tagline Reach out for stars, taking a cue from the name. 1997-1998: 5 stars took the youth wagon and positioned on the two attributes: energy and youthfulness. The brand had the tagline Mera own energy zone ". 1999: The brand came out with the tagline "Dil hai to josh hai again positioning itself on the energy platform. 2000:-In the millennium, the brand came out with a variant 5 Star Crunchy which had added rice crispiest to make it crunchier. The brand had the campaign with the voiceover "Arrey "(surprise).

2005- It came with thief commercial, which urged consumers to be good citizens with its tagline Ek acche nagrik bane, 5 Star khane walo ki madat karein!

Now a days, it introduced tag line Jo Khaye, Kho jaye in different ways. Like in a TVC, Taking the theme Jo khaye, kho jaaye forward, the new commercial showcases how two long lost friends Ramesh and Suresh are ecstatic to meet each other, only to keep forgetting their meeting after getting lost in every bite of Cadbury 5 Star.

The brand had faced lot of competition throughout its lifecycle. The competition was not from similar caramel chocolates but from brands like Kitkat and Cadbury's own brands CDM and Perk. Another issue that the brand faced was the price-value proposition. Cadbury had reduced the quantity of the brand drastically during 2000-2005 which hurt the brand very much. Not only the bar was less filling, customers also felt that its price is too high. Last year saw a rejuvenation effort for 5 star. The brand is being repositioned on the taste platform. The new campaign gives the brand a new tagline Jo Khaaye, Kho Jayee" meaning Lost in the taste of 5 star ".This time 5 star is on a 360 degree marketing campaign with added focus on digital media. The brand has a new website lostin5star.com where the brand has tried to build a viral campaign. Along with the new campaign, a new variant has been launched 5 Star Fruit and Nut. Like CDM, 5 Star is also targeting the youth market. 5
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Star is an example of consistent investment in long-term brand building. The brand has never shied from experimenting and repositioning.

3. METHODOLOGY OF THE STUDY

Research Aim The aim of this research is to empirically investigate the factor that leads to the need of Brand Rejuvenation. Research Objectives 1. To explore and examine the various factor leading to the need of Brand Rejuvenation. 2. To examine brand rejuvenation with context to Cadbury Five Star Chocolate and strategies that helps in the process. Research Design:
Sources of Data:

Primary Data: Questionnaire (a research tool) ,were sent to 18 sales and marketing executives and various other respondent from places in Patna like P & M malls, Colleges and schools. Secondary Data: Published materials such as journals related to the research topic. Sampling Method: Questionnaire was taken from a journal which contained various factor arising to the need of brand rejuvenation. Questionnaire was used to gain the responses about a few parameters of brand rejuvenation. The major part of the questions included the need or the cause for brand rejuvenation. The respondents were given 15 major causes for brand rejuvenation to choose the most feasible cause. The sampling technique used for this study is Judgemental sampling as mentioned above. They were asked to rate the factor on Likert scale of (!-5). It enabled us to gather information from the targeted group of people easily and quickly.

Sample Size For this study, a sample size of 60 has been taken, in accordance to the time limitation.

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Data Analysis The data collect from various locations has been analyzed using the SPSS software. The methods used for testing and analysis are Factor Analysis. And tool to measure was a

questionnaire. Reliability Testing We wanted to know the extent to which the items in our questionnaire were related to each other. Reliability is basically the ability of questionnaire to produce the same results under the same conditions. It is one of the qualities of a good questionnaire. SPSS was used for the reliability testing. Reliability Statistics Cronbach's Alpha .72

N of Items 15

Factor Analysis:
This analysis was done to reduce the number of factor in the questionnaire.

4. FINDINGS
The KMO value came as 0.67. So the test was significant. From factor analysis, we found that many factors were linear combination of potential factors. KMO and Bartlett's Test Kaiser-Meyer-Olkin Adequacy. Bartlett's Sphericity Test Measure of Sampling .67

of Approx. Chi-Square Df Sig.

269.440 105 .000

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Like, obtaining category leadership, product attributes were lacking, Lack of product named these factors as Faculty product and product leadership. Similarly we combined all other remaining factor to four different factors as follows. Thus we combined together as follows. Rotated Component Matrix
Component 1 VAR00008 VAR00014 VAR00003 VAR00013 VAR00005 VAR00006 VAR00004 VAR00011 VAR00010 VAR00007 VAR00015 VAR00002 VAR00001 VAR00009 VAR00012 Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a. Rotation converged in 12 iterations. .881 .845 .535 .745 .656 .604 .530 .520 .870 .733 -.759 .711 .822 .772 2 3 4 5 6

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5. ANALYSIS AND INTERPRETATION

Faulty Product and Product Leadership The need for Brand Rejuvenation is mostly necessitated due to Faulty Product, Confused Positioning, and Unclear Communication or for obtaining Category Leadership. In our Factor Analysis too, these factors were the first loading. The factors are :1. Product attributes were lacking 2. Lack of product understanding by consumers 3. Un-tasty Product

4. Confused positioning 5. Obtain category leadership. Gaining Image and Market Share One of the major reasons for Brand Rejuvenation is for gaining Market share and pepping up the image of the Brand. This is our second factor as given by the factor analysis. Sales & Product Differentiation Generally in the Brand Life Cycle, the brand at times gets into decline stage. The option left with most of the marketers generally is either milk the brand or to revive it. The decline is generally when product differentiation is absent or there is declining sales. Brand Managers need to take concrete steps in order to rejuvenate the brand. Brand Image & Promotion The factors in our factor analysis for Brand Rejuvenation are Spike in promotion activity & Improving brand imagery. Competition Effect The ultimate reason for all the Branding exercises undertaken by the marketing department is to have an upper hand while facing competition. Established Brands convey a sense of confidence and thus helps in the long run to the organization. The factor loading is Loss of market share due to competition. In order to make successful brand rejuvenation, we have to bring in a synergy between the visions and mission statements of the company taking in consideration about the companys
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intents, strategies, facts and analysis. The management plays a critical role in the success of the brand rejuvenation process. Our study has related the various purposes behind brand rejuvenation and the various methods available for brand rejuvenation. If the cause for brand rejuvenation is the product itself, i.e., the product has lost its appeal or usage, and the market is not accepting the brand, then the product attributes have to be changed and the company may bring out newer uses of the product so that the product can be re-launched. . When the cause for brand rejuvenation is the customers, it prompts the company to change the perception in the minds of the consumers. Bringing out new uses will also affect the consumers and thus change the brand image. If the reason for rejuvenating a brand is the competition, which has affected the sales and the image of the brand, the company may have to undertake the process in more than a couple of ways. It could be done through entering into newer markets or changing the brand elements and the perception in the minds of the consumers so that the market share is picked up. If the brand rejuvenation is prompted as a result of the failure of the strategies of the brand, the company may have to get into strategies that may be focused towards the changing of brand image, perception in the minds of the consumers and competitors or entering into newer markets and also making a better positioning strategy.

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6. CONCLUSION
From factor analysis, we got five different factors which arises the need for brand rejuvenation. In the competitive market, to sustain with profits and to stop the brand from being declined, brand rejuvenation of the product needs to be done. Products like, Scissors of ITC, Ghadi Detergent, Repositioning of Dabur, Kellogs etc. have been sustained over the years because of the revitalization of brands. They were successfully re-launched and were able to get stronger position. Ansoffs Matrix is one of the way how companies can revitalize their brands by means of either Market Development or Product Developemnt. 5 Star, is the second biggest chocolate brand in the Cadbury portfolio. It invested in Brand Rejuvenation of its brand over the years. The brand is being repositioned on the taste platform. The new campaign gives the brand a new tagline Jo Khaaye, Kho Jayee" meaning Lost in the taste of 5 star ".This time 5 star is on a 360 degree marketing campaign with added focus on digital media. The brand has a new website lostin5star.com where the brand has tried to build a viral campaign. Along with the new campaign, a new variant has been launched 5 Star Fruit and Nut. Like CDM, 5 Star is also targeting the youth market. 5 Star is an example of consistent investment in long-term brand building.

7. RECOMMENDATIONS
Based on our analysis and observations, we would like to recommend that 5 Star should focus on the following attributes as it has been doing. Improved Product Quality Improving Product Image Clearly Communicate its Product Differentiation from its competitors Effectively Communicate its Brand Take on Competition Head On.

Brand Rejuvenation has become a very important factor today because introducing a brand would take ten times more money than rejuvenating an existing brand.

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8. BIBLIOGRAPHY
Atkin, C. a. (1983). Effectiveness of Celebrity Endorsers. Journal of Advertising Research , 5761.

Dixit, Y. (2005). INDIAN AWARD WINNING ADVERTISEMENTS:A CONTENT ANALYSIS. Duetsblog. (n.d.). Retrieved 2011, from Brand Revitalization: Branding Fountain's of Youth: http://www.duetsblog.com/2010/06/articles/guest-bloggers/brand-revitalization-brandingsfountain-of-youth/ Endorgan, B. (1999). Celebrity Endorsement: A literature review. Journal of marketing management , 291-314. Friedman, H.H., L. Friedman. (1979). Endorsers effectiveness by product type. Journal of Advertising Research , 63-71. Gerard J. Tellis. (2004). Effective Advertising. U. K: Sage Publications. Header Widget. (2011). The Spirit of Collection. Retrieved 2011, from Brand Revitalisation Strategy: http://thespiritofcollection.com/brand-revitalization-advertising/ Kevin Lane Keller. (2009). Strategic Brand Management. Pearson Education. Kulkarni, A. a. (2005). Impact of Celebrity Endorsement on Overall Brand. http://www.indianmba.com/Occasional_Papers/OP88/op88.html . Kurzman, C., Anderson, C., Kaj, C., Lee, Y. o., Silver, A., & Van Ryn, M. W. (2007). Sociological Theory. 347-367. Larry Light & Joan Kiddon. (2010). Brand Revitalization. Dorling Kindersley India Pvt. Ltd. Leon G. Schiffman, Lealie Lazar Kanuk, S. Ramesh Kumar & joseph Wisenblit. (2010). Communication & Comcumer Behaviour: Celebrities. Pearson. Light, L. (2009). Ad Age CMO Strategy. Retrieved 2011, from http://adage.com/article/cmostrategy/mcdonald-s-larry-light-rules-brand-revitalization/137647/ McCracken, G. (1989). Who is the celebrity endorser? Cultural foundations of the Endorsement Process. Journal of Consumer Research , 310-321. Mehta, A. (1994). How advertising response modelling (ARM) can increase ad effectiveness. Journal of Advertising Research , 62-74. Michael T Ewing, David A. Fowlds & Ian Sepherd. (n.d.). Brand Revitalization & Strategic Realingment. Journal of Product & Brand Management . Perner, L. (2009). Consumer Behaviour: The pshycology of Marketing. http://www.consumerpsychologist.com/.

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Seno, D & Lukas B.A. (2007). The equity effect of product endorsement by celebrities: A conceptual framework from a co-branding perspective. European Journal of Marketing , 121134.

Spielman, H. (1981). The celebrity sell: making it work. Marketing Times 28 , 13-14. Zeithaml, V. (n.d.). The new demographics and market fragmentation. Journal of marketing: http://www.proquest.umi.com . http://www.brandblueprint.com/articles/Brand_Rejuvenation.pdf http://www.citeman.com/2921-brand-rejuvenation-with-examples.html

9. Appendices:

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Questionnaire
Section I Demographic Factors NAME _________________________ GENDER ________

QUALIFICATION_____________________________

Age Below18 Occupation Service Business Student Professional 18-25 26-35 36-50 51 and above

Section II According to you which of these Factors are Affecting Rejuvenating Brands in context to Cadbury 5-Star. Patna. Please fill according to instruction in bracket given below ( 5-Strongly Agree ; 4-Agree ; 3-Neutral ; 2-Disagree ; 1-Strongly Disagree )
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The need for Brand Rejuvenation arises most when,

Loss of market share due to competition Strongly Disagree 1 2 3 4 5 Strongly Agree

Product category is declining Strongly Disagree 1 2 3 4 5 Strongly Agree

Obtain category leadership Strongly Disagree 1 2 3 4 5 Strongly Agree

Build or increase market share Strongly Disagree 1 2 3 4 5 Strongly Agree

Product attributes were lacking Strongly Disagree 1 Pep up brand image Strongly Disagree 1 2 3 4 5 Strongly Agree 2 3 4 5 Strongly Agree

Spike in promotion activity Strongly Disagree 1 2 3 4 5 Strongly Agree

Lack of product understanding by consumers Strongly Disagree 1 2 3 4 5 Strongly Agree

Modernize and increase visibility Strongly Disagree 1 2 3 4 5 Strongly Agree

Product differentiation is absent Strongly Disagree 1 Declining sales Strongly Disagree 1 Packaging Strongly Disagree 1 2 3 4 5 Strongly Agree
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5 Strongly Agree

5 Strongly Agree

Taste Strongly Disagree 1 2 3 4 5 Strongly Agree

Confused positioning Strongly Disagree 1 2 3 4 5 Strongly Agree

Improving brand imagery Strongly Disagree 1 2 3 4 5 Strongly Agree

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