Marketing for rebrand
It’s not just a change of visual identity, rebranding should be part of an overall brand strategy for a product or service
Typically a rebrand will include a change to the brand’s logo or name. The changes may be subtle or radically different depending on how the brand is performing or if negative connotations exist. In addition a brand’s advertising, merchandising and the marketing strategy would all need to be scrutinised and altered accordingly.
Branding and rebranding is usually undertaken in an effort to bring the product or service up-market or convey a new message. It can be administered to age-old, new and even products which have not been developed fully or manufactured.
Caution, care and sensitivity is needed when considering a rebrand, to ensure failure does not occur due to customer-base disapproval or even hostility, for example the London 2012 Olympics logo which was a complete flop and had to be re re-created at great expense.
Taking the above into consideration, the rebrand launch needs to be undertaken in a logical and delicate manner to ensure existing customers are not alienated whilst also attracting potential new business. There is no set in stone process on how this should be done, but procedure, consistent visual prompts and customer interaction must all be carried out in harmony to enable the client to trust what is being presented to them.
Good marketing promotes positive awareness of a product or service. Once a brand is top of the pile, you want it stay there. This can be achieved by consistent good quality or service, effective distribution and reasonable pricing. However, rebranding can also play its part and companies frequently have rebranding cycles to keep that all important top spot.
Being different is all important when standing apart from the competition, this can be accomplished by policy, for example going green or by changing your logo. The need to be different is all the more important in saturated business sectors such as the UK retail market.
There are two forms of rebranding. When considering product offerings there is market segmentation/product differentiation. Market segmentation is where one product is promoted separately to several target markets. And when part of a market segmentation strategy involves offering completely different products in each market, this is called product differentiation.
The second being where a product is manufactured by one company, is then repackaged and branded and sold by another company for sale. This frequently happens with international trade where goods can be produced in another country for cheaper rates, then imported, rebranded and sold on for a profit for example electrical goods.
When considering a rebrand small companies face different dilemmas to larger organisations. Small business can rebrand and usually react quicker to market demands, especially if their brand is not well known but then have the consider the cost implications of professional brand design and associated costs of bring their product to market. Whilst larger organisation will suffer large cost implications due to having to change signage and collateral to name a few possibly over numerous locations or outlets.
In conclusion, whether you are a small business wishing to expand into more aggressive markets or a large organisation which needs their brand updating to differentiate you must consider:
2) Customer loyalty
3) Cost implications
4) Calling Formation on 01926 298777