Rebranding is a process which involves creating a new image for a product or service, so as to differentiate it from competitors in the market. The efforts to rebrand involve changing name, using new logo, revising the packaging design and incorporating new marketing resources that include the latest buzzwords.
The intention behind rebranding is to influence customer's understanding about the product by remodeling the brand. Most businesses know when it is time to rebrand. Find out ten reasons that indicate that you need to rebrand.
1. When a merger takes place.
2. When you outgrow your brand.
3. If your brand value becomes hodgepodge over the years.
4. When there is stiff competition.
5. If your customers are confused about your product or service.
6. If your product becomes old fashioned.
7. When your brand goes global.
8. If your reputation is sinking.
9. To keep up with latest technology.
10. When you launch a new product or service.