Rebranding and relaunching can take many guises from the complete wholesale change of a company or product, inside and out. This includes name, culture, values, behaviours, tone, visual collateral and all that entails with no connections to the legacy entity, to something less dramatic and of a more evolutionary nature.
In each instance though, the change to whatever degree, affects a change in the minds of the target market in terms of their perceptions of the brand. That change is a process of giving a company, product or service a new image in order to make it more successful.
Positioned and developed correctly, brands offer a means of generating sustained growth, enabling companies to charge a premium. Equally they also assist a company to resist or bounce back from competitor attack.
Brands are key to a company’s long-term survival and market leadership. Accountants and auditors the world over calculate the value of brands when determining book values on the company balance sheets. In the case of strong brands, the brand can be 70% – 90% of the stock market value (intangible assets).
Rebranding is a complex process and should not be engaged lightly. Handled badly it can be damaging to business. Equally in the words of a Chinese proverb “if you do not plan for the future, you will get the one that shows up” and successful rebranding, relaunching and revitalisation adds significantly to a company’s long term success.