Changing Paradigms of Rebranding Strategies in Indian Perspective
According to the AMA (American Marketing Association), Brand is a name, term, sign, symbol, design, or a combination of all used to uniquely identify a producer’s goods and services and differentiate them from competitors. Specifically, a brand is a name “yahoo.com” logo, jingle ‘bus 2 minutes’, “Maggie”, slogan ‘sense and simplicity’, “PHILIPS”, package design, spokesperson, color Red color,” Vodafone” which consumers associate with a specific product.
REBRANDING-WHAT IS IT? Rebranding occurs when a product or service developed with one brand, company or product line affiliation is marketed or distributed with a new and different identity. It is usually more than simply a change in brand’s logo and other superficial changes and should involve radical changes to the brand name, image marketing strategy and advertising themes. In order to complete Rebranding, several areas should be reviewed including positioning, personality, cluster of values, logo, company, identity and vision prior to the building of a brand. Rebranding can take place for a new product, a mature product, or even developing products. In some cases, a total rebrand may not be necessary but rather a partial rebrand. When a brand has been firmly established but may be outdated or needs refreshing due to new products or services, partial Rebranding may be more appropriate. It is critical that the brand value that’s been developed over the years not be eliminated. Subtle changes to update it may be all that is necessary to get the message across and revitalize sales. It is important to differentiate between Rebranding of a product versus repositioning of a product. Repositioning may involve a change in any of the marketing mix elements in an effort to respond to declining sales or market share. The goal in repositioning is to target existing products at new markets or segments. Repositioning may be part of Rebranding campaign. In contrast, Rebranding should involve a total change to
REBRANDING-WHAT IS IT? Rebranding occurs when a product or service developed with one brand, company or product line affiliation is marketed or distributed with a new and different identity. It is usually more than simply a change in brand’s logo and other superficial changes and should involve radical changes to the brand name, image marketing strategy and advertising themes. In order to complete Rebranding, several areas should be reviewed including positioning, personality, cluster of values, logo, company, identity and vision prior to the building of a brand. Rebranding can take place for a new product, a mature product, or even developing products. In some cases, a total rebrand may not be necessary but rather a partial rebrand. When a brand has been firmly established but may be outdated or needs refreshing due to new products or services, partial Rebranding may be more appropriate. It is critical that the brand value that’s been developed over the years not be eliminated. Subtle changes to update it may be all that is necessary to get the message across and revitalize sales. It is important to differentiate between Rebranding of a product versus repositioning of a product. Repositioning may involve a change in any of the marketing mix elements in an effort to respond to declining sales or market share. The goal in repositioning is to target existing products at new markets or segments. Repositioning may be part of Rebranding campaign. In contrast, Rebranding should involve a total change to