Brand erosion
Refers to the gradual decline or deterioration of a brand’s value, reputation, or image over time. It occurs when a brand loses its appeal or relevance to consumers, leading to decreased customer loyalty, falling sales, and a shrinking market presence. Several factors can cause brand erosion, including poor product quality, inconsistent brand communication, strategic missteps such as brand extensions that don’t align with the brand’s identity, increased competition, and negative publicity.
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