WHAT IS REBRANDING?
Rebranding is the process of changing the corporate image of an organization. It is a market strategy of giving a new name, symbol, or changing the design for an already established brand. It is simply put, creating a new Image or Identity that is competitive in the commercial Marketplace.
WHY IS REBRANDING CRUCIAL?
Life is all about changes. Once there is life in an individual or corporate body, then change is inevitable. Life is transformational, generative, and transitional. Therefore, as long as we are in existence we transpose, reposition, transfer and redirect into varying situations and environments.
Change engenders growth and development.
What is Brand?
A Brand is the unique identity of a business. This is what makes the business and its products memorable, unforgettable, indelible and noteworthy, in their niche market environments.
A Brand increases the business’s value, exemplifies, sets expectations, and enables effortless customer acquisitions.
WHY THEN SHOULD A BUSINESS REBRAND?
Here are five (5) reasons –
- CUSTOMER – CENTRICITY Time changes, Customer patterns change with the times. New development occurs, your Brand can become outdated. Business Brands must remain Customer focused and relevant.
- REGENERATION – Rebranding ushers a new life into the Business.
- COMPETITIVE ADVANTAGE – Rebranding increases the Business’s competitive edge
- CHANGES IN LEADERSHIP – Brands are frequently linked to Company Leaders. When Leadership changes, new Leaders often bring new objectives and creativity which leads to rebranding.
- REPOSITIONING – Over time a business may shift from its original nucleus, which will require rebranding. Its original focal point might now have become a liability to the entity, thus rebranding becomes vital.
FUN FACTS
Did you know? ………………….
APPLE – rebranded three (3) times?
STARBUCKS – rebranded four (4) times?
PEPSI – rebranded eleven (11) times?
IT’S PERFECTLY LOGICAL TO REBRAND
So consider ……………..
- YOUR VISUAL IDENTITY
- YOUR BRILLIANT BRAND EXTENSIONS ( The purpose for your product/commodity)
- YOUR BRAND STRATEGY ( Vision, Mission, Values)
- YOUR COMPETITION, MARKET, AND AUDIENCE
- WHY REBRAND
- GROWING YOUR EMPLOYEE SUPPORT
- YOUR TRANSITION STRATEGY ( How will you appraise your customer /client base)
NOW THAT YOU ARE APPRECIATIVE OF REBRANDING, GO AHEAD AND REBRAND.
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