THE REBRANDING, WHAT IS THAT, WHY IT IS IMPORTANT AND WHEN YOU MUST DO IT
WHAT IS THAT' ?
Rebranding is a change in the brand image that involves the perception of consumers and others stakeholders ( stakeholders) have of a company already present on the market.
According to Muzellec and Lambkin, two university professors, authors of several essays on the subject, rebranding can be distinguished on the basis of the degree of change that has occurred in two dimensions: thepositioning on the market and visual or aesthetic elements, as thelogo. The two authors therefore refer to aevolutionary change, which concerns items such as logo e slogan , and to arevolutionary gearbox, because more radical, usually associated with creating anew name for thebrand.
WHY USE REBRANDING
According to the American magazine Forbes each of us has only 7 seconds to make a good impression. And on the web this time is reduced to a tenth of a second. This also applies to companies.
Sometimes a brand fails to attract attention due to the wrong logo, of a name that is difficult to remember or because it has market objectives or an undefined mission.
But in a constantly changing world, even established brands may have to resort to a restyling of the brand and a review of its mission to attract new customers.
Here are the advantages:
- Winning a new audience and being able to target a wider market;
- Adapt to the evolution of the times and maintain the competitive advantage for a company that has been on the market for some time;
- Be more recognizable by maintaining the loyalty relationship of its customers, for example by connecting to the new one brand a video that tells the story and evolution of the brand;
- Improve the ranking ( positioning) on Google if customers appreciate your efforts and interact with the new brand;
WHEN TO SEEK REBRANDING
Rebranding is an expensive and risk-free process because it risks creating confusion in a company's target audience, as shown by some examples of companies that have reverted to the old logo after changing it (GAP), but if it is done at the right time and if well studied it can be very advantageous.
Yes you can’ resort to rebranding when a repositioning in the market is desired. For example, changing an image that is obsolete and no longer in step with the times, express the growth of the company, innovate to conquer new audiences (introducing new products or a new one packaging ) o strengthen its reference market. In this case we speak of proactive rebranding ( cit. The Economic times)
In other cases, rebranding becomes a necessity dictated for example by the merger of two companies ( it is. Banca Intesa and San Paolo IMI) or to recover an image damaged by a corporate scandal. More frequently, the need is to maintain their competitive advantage on the market in the face of innovations and changes introduced by competing companies. In these cases we speak of responsive rebranding.
Sources: Inside Marketing; The economic Times; Marketing Studio; Ecommerce Guru