What is rebranding? The idea behind rebranding is to create a different identity for a brand. It is the process of changing the corporate image of an organization. Therefore it is a market strategy of giving a new name, symbol, or change in design for an already-established brand. Rebranding might be more subtle such as a slight shift in in the message or a more relevant brand promise. It can be expensive and sometimes risky too. Anyway rebranding is extremely important.
Types of Rebranding
There are two types of rebranding: (a) Proactive rebranding and (b) Reactive rebranding. Let us understand the two by examples.
- Titan Industries rebranded itself in 2013. So they changed the Logo and the name to Titan Company. The new logo highlighted the company’s commitment. “Create value, innovate, and maintain highest global standards”. This is Proactive Rebranding.
- Due to the revelation of 2009 fraud, Satyam Computer Service faced almost bankruptcy. Hence the company was sold to Tech Mahindra. Tech Mahindra rebranded the company as ‘Mahindra Satyam’. And in the year 2013, it merged itself with Satyam Computer Services. This is Reactive Branding. It is often done due to mergers & acquisitions, legal issues, negative publicity
VW is going to reveal the ID.3, the first car to be sold under its new ID Electric car sub brand. They will also unveil their new Logo, at the Frankfurt Motor Show.For the first time since 2012, Volkswagen is all set to reveal an all new Logo. Subsequently a glimpse of the new Logo is expected at the 2019 Frankfurt Motor Show. The new management thinks that the automaker’s appeal globally is ‘too German’ and unemotional. As a result, Volkswagen will be moving away from the 3D bubble-like blue-and-white VW mark to a flat, simple and thinner logo, almost as it was in the 1960s. A brand young and enthusiast at 80.
It may be your own strategy or external factors that demand a rebranding. When you think of rebranding you need to decide the extent of rebranding too. A Professional Branding Agency will never suggest a change in the Logo if it is not required.