What is Re-branding?
Rebranding is a kind of marketing strategy that gives a new image to the established company including the brand name, logo, symbol or change in design. It is the process of creating the differentiated identity of the brand or company in the minds of customers, investors, stakeholders, and competitors.
Today, various business organizations are taking the recourse of re-branding or brand positioning whether for their well-established company or for giving a lope to their unsuccessful company.
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Time To Rebrand?
Rebranding is such a technique to reposition the company or its products identity deliberately. There can be multitude reasons for brand development or rebranding depending on the necessity of distinct business organization. Rebranding can be categorized in proactive and reactive rebranding.
Proactive rebranding is performed when an entrepreneur is seeking to add new things in their organization and reactive rebranding is performed to highlight the existing brand of the company. Now let’s enlighten on those factors when an entrepreneur should re-brand their company or product.
To Build A Newbie Image
When companies want to come out from the past image and want to develop a new image for the targeted market, customers, partners, or stakeholders, they take a decision on brand development. This is such an effective way that creates vigilance and perception about your brand or company among the people and market.
To Enter Into New Marketplace
A business cannot be driven without the customers hence when you wish to enter the new marketplace aiming to get new audience or customers, rebranding is the best way to do so. Even if business owners want to expand their brand in global market then, the need of brand development arises.
To Come Out From Bad Reputation
When a company earns a bad reputation and loses its significance then, it becomes crucial to adopt re-branding services. It helps the business owners to introduce their product or company with innovation in order to outreach new audience and to connect with them. It also works well in bringing the old client or customers back.
Here we can take an example of Apple Company as it was suffering from low sales and got outdated from the competitive market in the early 1990’s then, Steve Jobs took over the company and innovated it with new products along with new series of a marketing campaign. Very soon Apple got able to attract a new customer base.
Conflict With Stakeholders
When a conflict takes place among the company and stakeholders, it reflects on the inner and outer both the images of the company and also affects the business flow. Hence, rebranding can be smart decision to sustain the reputation of the company. But, sometimes re-branding can leave a negative effect to on the stakeholders. So, this decision can be taken and implemented carefully.
In order to remain competitive in the continuously evolving marketplace, brand development is an essential tool that helps you out to sustain the company and brand reputation in the targeted marketplace.
Remember, no brand can take a breath if it doesn’t differentiate itself from the competition because consumers can set their mind with a brand that has some distinctness over other brands.
Repositioning Your Brand
When company surmounts, its brand transforms and stands for something different in the challenging market. In order to stay fresh and contemporary in the targeted marketplace, the need of repositioning the brand takes place.
Various major organizations are rejuvenating their brand by siphoning the brand positioning service that helps them to attract the new audience base and to connect with them. We can take an example of Microsoft the major organization that timely changes their logo and enters with newbie approach in the market every time.
Rebranding is such a technique that can transform your business structure in a just quick time frame. Rebranding can always be a crucial decision to give a new direction to the business organization and to re-boost the brand or company image. So, if you are seeking for brand development or rebranding then, our Branding Agency Bangalore can assist you to stand out your company or brand from the crowd.