In today’s world, competition in the marketplace is fierce, so marketers and managers seek to use various methods to differentiate themselves from other companies. One such method is rebranding. Rebranding is a marketing method that allows a qualitative change in the perception of the brand. It can be useful for companies that want to increase their competitiveness and attract new customers.
What is rebranding?
Rebranding is the process of changing the look and positioning of a brand in order to change consumer perceptions. Rebranding involves changing the logo, packaging design, colour scheme, slogan and other elements that are associated with the brand. The purpose of rebranding is to improve the company’s image, increase brand awareness, increase sales and attract new customers.
Aims
The goals of rebranding can vary. Some companies do it to change their image, for example, to look more modern or appeal to a younger audience. Other companies do it to broaden their target audience or to occupy new market niches. Another purpose of rebranding may be to change a company’s strategy or move into a new market.
Types of rebranding
Rebranding can be complete or partial. Full rebranding involves a complete change in the appearance of the brand, including the logo, packaging design, colour scheme, slogan and other elements. Partial rebranding may involve only changing some elements of the brand, such as the logo or colour scheme.
We can also distinguish between first and second rebranding. The first is carried out by companies that decide to change their image or occupy a new niche. The second rebranding is a brand change that is carried out by the company for the second time. Usually, the second rebranding is carried out when the first one did not yield the expected results or when the company wants to further enhance its image and attractiveness to consumers.
Stages of rebranding
Conducting a rebranding is a complex process that requires careful preparation and planning. The process involves several steps:
- Current situation analysis – you need to analyse the current position of the brand in the market and identify weaknesses and problems that need to be addressed.
- Define objectives – identify what you want to achieve with rebranding and what changes need to be made to the brand to achieve those objectives.
- Develop a strategy – develop a rebranding strategy, define what changes need to be made to the brand.
- Creating a new visual identity – creating a new logo, packaging design, colour scheme and other elements of the brand’s visual identity.
- Developing a new slogan – creating a new slogan that reflects the values and positioning of the brand.
- New brand presentation – advertising and communicating with customers.
Examples
Let’s look at some interesting examples of rebranding.
Online gambling
Online gambling is another industry where rebranding is commonplace. To attract new players, online casino owners often create new brands that look similar in design to previous ones but have a different colour scheme.
For example, Bwin Party rebranded its online casinos, creating a new Party Casino brand. According to the specialists of the Casino Zonder website https://onlinecasinozonder.com/ the new brand had a more modern design and more attractive bonus offers, leading to an increase in player numbers and higher revenues for the company.
Apple
Apple is one of the most famous brands in the world, having successfully rebranded itself in the late 1990s. At the time, the company was suffering from falling sales and was on the verge of bankruptcy. The only way to keep the business going was to radically change its approach to products and market positioning.
Apple ceased to be a computer manufacturer and began to position itself as a developer and provider of innovative products. Products such as the iPod, iPhone, iPad and a new logo were created. As a result of the rebranding, the company’s sales increased significantly and the brand became one of the most recognisable in the world.
Pepsi
Pepsi is another example of successful rebranding. The company carried it out in 2008, creating a new logo and packaging design that reflected the new brand positioning.
The new logo was more modern and minimalist, and the colour scheme was changed to more lush colours. As a result of the rebranding, Pepsi’s sales increased significantly and the brand was given new life.
Conclusion
Rebranding is a complex solution that needs to be carried out not just by changing the logo, but by rethinking the entire company to improve the quality of the product or services. It is worth emphasising that rebranding is a serious step that requires careful thought and analysis. It is a step that could be beneficial to the company if it is undertaken for sufficiently good reasons and without major mistakes. Rebranding does not guarantee success. A company must continue to work on improving its product, communicate with customers, monitor market trends and analyse its performance. Only in this way will it be able to achieve a stable market position and increase profits.