Big brands like Microsoft and Harley-Davidson also did a re-branding to their products. The reason is, to stay relevant in their competition. Microsoft has never changed its logo since 1987. But, in 2012, Microsoft decided to do a re-branding to attract new customers, and to create a new modernized image of the brand, to compete with its biggest rivals, Google and Apple.
Here are the 5 signs why a company and brand needs to re-brand:
1. When the brand image is already outdated
For a brand to stay relevant, it needs to go along with current trends and social behaviors. By updating or modernizing the brand image, a brand can stay connected in the competition, or even challenge the competition leaders. One of the main reasons of re-branding is to modernize a brand, and it is okay for a brand to freshen its image.
2. When the current brand position is no longer useful
By ineffective, it means that the brand’s strategy is no longer working like it is supposed to. By re-positioning its strategy, vision, etc., a brand can reach their goals more efficiently.
Related: 3 Reasons Why Being Inconsistent Could Cause Danger to Your Brand
3. When a brand or company has a bad reputation
It can’t be erased that easily. A way to withstand the bad reputations, a brand needs to re-brand itself. By applying new changes internally and externally, a brand can generate new, positive thoughts from current and potential customers towards the brand.
4. When a brand or company wants to compete globally
Re-branding is needed when a brand spreads its wings to global or foreign market. Consumer behavior is different from one country to another, so to be accepted by the global market, a brand needs to understand their behavior carefully.
Related: Re-Branding As Proven Ways To Compete Your University in Marketplace
5. When a brand or company changes its target market
When the original target group of people doesn’t buy the products of a brand, changing the target market is a top priority. Re-branding helps a brand to change their previous target market to more relevant market. To find the appropriate market, the company needs to research their customer’s buying behavior, and what kind of people that buy the product.
Re-branding is a very effective strategy for a brand to attract new customers or to retain loyal customers. But re-branding a brand too often can ‘kill’ the reputation of a brand. The brand can be referred as an inconsistent brand. When done right, re-branding can surely help a brand win the competition.
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