The main goal of rebranding is to extend the life of the brand, to maintain its relevance. Let’s look at situations when companies take steps to relaunch the brand.
Entering a new market
The decision to rebrand a company is made when it plans to singapore phone number library develop new markets. For example, the market of another country. The brand is adapted to a new audience. On the one hand, there is a need to create a new image, on the other hand, the brand must remain understandable to its regular customers.
For example, a Croatian pet food company carried out a successful rebranding: they not only created a new logo and packaging design, but also emphasized that the brand’s ideology is mutual love between owners and pets. Thanks to this, the new brand stood out from the others. A competent rebranding helped the company more easily enter the international market and increase sales.
Transformation of the brand concept
A company needs rebranding if the brand positioning has changed. For example, the range of services has expanded, the approach to products has changed. A well-known example of such rebranding is Sber.
Sberbank has gone beyond providing financial services a business project management program and in 2020 it repositioned itself, changed its concept and design. Now it is a large ecosystem of convenient services for life. Therefore, the brand name has also changed.
Loss of relevance
Rebranding is an adaptation to market trends. If the brand’s offerings are outdated, then rebranding helps to demonstrate changes in the company to the audience. Of course, in order to revive the brand, new products need to be introduced and existing services updated at the same time.
One example of rebranding is the transformation
A cinema in Bahrain. The reasons for rebranding were an outdated snbd host USP and the loss of brand identity in the eyes of consumers. The company decided to change the perception of the brand and began to position itself as a modern multiplex where visitors can experience unforgettable adventures.