The concept of rebranding refers to the process of transforming your business and giving it a new look and feel. When it comes to rebranding, you are able to take your brand to the next level and you can choose to do this with either your product, services, or overall company.
Nonetheless, the ultimate goal of rebranding is to influence customer’s perception of your product, services or company. By changing the name or creating a new and upgraded image of your brand, you are basically revitalizing your business and making it seem more relevant to your target customers.
Not all companies will need a rebrand, however, here are all the common reasons why companies need to go through this process:
- Company has repositioned itself and its vision: You want to clearly communicate these changes in your brand’s focus to your customers
- Company has updated its corporate image to appeal to younger consumers: Your brand should evolve with time, technology, and other societal changes in order to stay relevant in the long term
- Company has expanded its business scope: A great example of this is how Starbucks has rebranded itself from being a brand that solely sold coffee, to being a brand that serves, coffee, tea, and all other types of breakfast foods.
- A significant merger or acquisition has taken place
- Company wants to present a new image for better reputation: This allows your company to distance itself from any issues or criticisms they have encountered in the past
Before you start rebranding, it is a must that you fully understand your target customer’s needs, as this will set the foundation for the rest of the process. Once that is clear, you may begin the processes of changing the name or creating a new logo, packaging, and web design for your brand.
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