What is Rebranding and its strategic significance?
Posted: Mon Feb 17, 2025 6:42 am
However, there are times when the brand no longer accurately reflects the vision, values or does not keep up with the changes in the market. That is when rebranding becomes a strategic choice. But is rebranding the magic bullet? And how does it actually work? Let’s dive into the nuances of rebranding to find out.
1. Rebranding is more than just changing india telegram data your logo, colors, or tagline. It is a comprehensive effort to refresh how your business positions itself in the minds of your customers and the market.
According to a report from Nielsen , 59% of consumers prefer to buy from familiar brands. This shows that if a brand no longer meets customer expectations, it will gradually lose its competitive position. The main goals of rebranding: Change identity to match business development.
Enhance differentiation in competitive markets. Attract new customers or maintain the loyalty of existing customers. Restore brand image after crisis. In 2008, Old Spice , a men’s grooming brand, rebranded to appeal to younger customers. The result? Sales increased 125% in the three months after the new ad campaign launched ( Source: Harvard Business Review ).
1. Rebranding is more than just changing india telegram data your logo, colors, or tagline. It is a comprehensive effort to refresh how your business positions itself in the minds of your customers and the market.
According to a report from Nielsen , 59% of consumers prefer to buy from familiar brands. This shows that if a brand no longer meets customer expectations, it will gradually lose its competitive position. The main goals of rebranding: Change identity to match business development.
Enhance differentiation in competitive markets. Attract new customers or maintain the loyalty of existing customers. Restore brand image after crisis. In 2008, Old Spice , a men’s grooming brand, rebranded to appeal to younger customers. The result? Sales increased 125% in the three months after the new ad campaign launched ( Source: Harvard Business Review ).