Typically smaller companies start with more modest brand offering, due to budget restrictions, which are inadequate to meet the needs of a bigger more sophisticated business and a rebrand is required. When small companies grow into bigger entities they and/or their products frequently require a rebrand or revitalisation to meet the needs of the bigger business. It can also be used where there are complex and sometimes confusing mixes of product portfolios which frequently undermine the brands impact, (along with considerable advertising, branding clutter and media proliferation) all of which causes brand incongruence and audience fragmentation and consequently badly needs consolidation through rebranding to achieve brand impact and strong growth again. Rebranding can be used to decrease business development and operational costs, or a way of countering declining profitability or consumer confidence.
Also again used as a means of blocking or outmanoeuvring competitors or a way of handling increased price competitiveness. from an economy price fighter to a premium position, and invariably requires a rebrand to signal a change in direction, focus, attitude or strategy to its target market. Taking a brand to a new position is an involved process e.g. Rebranding or revitalisation becomes an outward expression of the companies evolution and ensures the brand’s change hungry customers keep coming back to see “what’s new”. internet, software, hardware and the product offering constantly innovating then a rebrand frequently follows the natural and fast rate of change. Technology is constantly evolving and the rate of change often exponential. In other cases one of the brands may be more dominant requiring more of a revitalisation or refresh with it becoming the sole dominant player. Sometimes this can require a rebrand or relaunch in a way that will appeal to both. When two entities combine there are typically two unique audiences left to communicate with. Marathon’s change to Snickers, Opal Fruits change to Starburst, Jif’s change to Cif. Sometimes rebranding is required because of globalisation where the same product sold across multiple markets is inconsistent or different e.g. Rebranding can be used as a means of blocking or outmanoeuvring competitors or a way of handling increased price competitiveness. In a fast moving environment with aggressive competition, rebranding may be required to change the offering to the market in order to create a more compelling reason to buy, in the minds of the target audience.
A brand that has become old-fashioned in the eyes of its audience is in danger of stagnation if not already in a state of erosion and loss of market share. services, accessibility, convenience, choice, changing trends, technology). Some of the reasons for rebranding, relaunching and revitalising a brand include the following:īrands need to stay relevant to their target market, to keep up with the times and keep pace with changing customer needs (e.g. Change is necessary to stay relevant to the times in which a brand exists and to ensure its future success. Revitalisation maintains and celebrates the history and heritage of the brand but shows its target audience (current and future) that you are adaptive to change. However some branding does require an extensive change in order for the business to achieve the required regeneration for growth and profitable returns. Yet when you look at their market leadership over the decades, they have all changed even if it has been in a more evolutionary sense over time, rather then radical overhauls. Brands are constantly evolving to ensure they keep abreast of changing needs in the market place. Even some of the greatest brands in the world need rejuvenation.īrands like Guinness, Coca-Cola, Starbucks and Kellogg’s are iconic, global in their status.
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