In present brand driven 21st century, the brand value of product is the key element in acquiring more number of shares and enhancing the product sales. Brand value is a premium that is accrued to the product which attracts more number of customers who just buy the products due to value of the brand in market.
The factors that play major role in creating brand value for a product includes quality, positioning, repositioning, long term perspective, internal marketing and communication. Brand value creation is a long term process as it involves marketing the product and making people aware about the product through different means of communication.
To rebrand the product, it is essential to change the logo design, change the package design, alter the marketing campaigns and promote the rebranded product in to market through several means such as direct marketing, personal marketing, and public relations etc.