Your Brand Might Need a Re-brand
The idea behind re-branding
is to create a different identity for a brand, from its competitors, in the
market. It involves changing the brand name, logo, visuals, packaging,
marketing materials and/or any other defining aspect of a brand’s consumer
connectivity. There are generally two types of rebranding:
1. Proactive Re-branding
It is done when a company recognizes that there is an opportunity to innovate and advance into new businesses and to reconnect with its users.
2. Reactive Re-branding
It is done in a situation when the existing brand has to be discontinued or changed. Possible reasons for this type of re-branding could be mergers & acquisitions, legal issues, and negative publicity, among many others.
No matter the reasons for re-branding, it should always be conducted with special attention to the audience and the market, while establishing clear differentiation from the competition. Re-branding is good for your business, but at the same time, it might be risky. There is always a possibility that the consumers do not like the new direction your brand takes.
Do you think your brand might need a re-brand? A good step to start is contacting Milestone Integrated Marketing Solutions now!