Modes of rejuvenation for legacy brands

Kasimzade, Torben Kejhan (2023) Modes of rejuvenation for legacy brands. DBA thesis, University of Gloucestershire. doi:10.46289/9AB4U94Y

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For a long time, practitioners, including me, have asked themselves what makes or breaks a successful brand turnaround (BT) – brands which have been in decline and, yet, were able to rise from the ashes to new success. Many BT cases exist with highly respected Chief Executive Officers (CEO) featured as the turnaround leader – especially for legacy brands (LB) with a more publicly known image, i.e. beyond its industry or natural target group. The BT phenomenon is widely subsumed under brand rejuvenation (BRJ). Interestingly, while the momentum of corporate turnaround literature is still accelerating, the systematic review of pure BRJ literature in this study highlighted considerable gaps. Thus, a qualitative study was conducted by interviewing six BT experts (CEO and the heads of marketing with BRJ experience of LB) for their in-depth insight. Hence, the research aims to identify the main modes of rejuvenation adopted in reviving legacy brands and to ascertain senior managers’ perceptions of required actions. Thus, BRJ theories are analysed and compared with the insight of brand turnaround executives. According to the results, executives leading the BRJ do not currently follow any theoretical framework – which they do not even recognise. Despite this, three generic modes could be identified: a short-term analysis/audit phase, a long-term change management phase, and a medium-term first growth phase. Further, the results suggest a pattern in CEOs acting intuitively rather than strategically in BRJ situations. This can be counterproductive in the trust-building process but also when fostering innovation. Egocentricity seems to play an important role; this is termed the “I”-factor of the CEO and is an influential force that can be good or bad for BRJ. Thus, practitioners will benefit from this study, as guidance is given for successful BRJ. Moreover, it shifts the focus away from the well-featured CEO and the “I”-factor, emphasising staff below that position for the first time. Consequently, exciting avenues for further academic research are highlighted.

Item Type: Thesis (DBA)
Thesis Advisors:
Thesis AdvisorEmailURL
Uncontrolled Keywords: Brand turnaround (BT); Legacy brands (LB); Brand rejuvenation (BRJ)
Subjects: H Social Sciences > HF Commerce > HF5001 Business > HF5410 Marketing
Divisions: Schools and Research Institutes > School of Business, Computing and Social Sciences
Depositing User: Susan Turner
Date Deposited: 26 Jan 2024 14:47
Last Modified: 26 Jan 2024 14:47

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