Brand Recovery Strategy Task 1

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Western Governors University *

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Marketing

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Feb 20, 2024

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docx

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Uploaded by CaptainIron7957

QLM1: Crisis Management and Brand Recovery Strategies and Tactics Brand Recovery Strategy Student ID: 001130506 Date: 07/29/2022 Growth Opportunity The most beneficial growth opportunity for this company is through diversification. Market penetration is the objective of the company and is the safest option among the branding strategies. Although diversification has its drawn backs in regard to safety, the method will reap exceptional profit. Recovery Strategy Approach The most ideal strategy that will best suit the growth opportunity selected is individual branding. The brand will venture off into a variety of snacks in the snack marketplace. The recent insecticide issue discovered, where the potatoes used for the potato chips are being exposed, will have a negative effect that will be significantly reduced due to methods of individual branding. Market street snacks acquiring Middletown Dried fruits also their perfect opportunity to introduce new products into the sweet snack marketplace in which they operate. Brand Name The name of the product “Fresh Sweets” will cater to the target market’s likeness of fresh and healthy foods as well as the new acquisition market’s sweet snack products. Advantages & Disadvantages Advantages and Justifications 1. Derail Negative press - The combination of diversification and individual branding strategies disassociate the brand away from negative press that the current potato chip brand is experiencing 2. Opportunity of High Rewards - Risking brand safety may result in high reward opportunity due to diversification 3. Variety of Products - Fresh dried fruit snacks give an alternative product to add into the snack marketplace PAGE 1

D177 QLM1: Task 2 Disadvantages and Justifications 4. Costly - Diversification of the brand can result in high costs 5. High Risk because of diversification - High Risk High reward option of branding can result in poor outcomes for brand 6. Branding individually can stunt growth - Brand awareness may be required for products in a market that an individual brand isn’t well known PAGE 2

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