ReBranding a company and why it is important for your sales volumes.
Definition of Rebranding:It is the process of changing the corporate image of an organization. A market strategy of giving a new identity in the form of a new name, new symbol, or a change in design for an already established brand. Re-branding a business is the harsh reality that every business faces at least once in its lifetime, no matter for big or small business. Breaking up may sound downright dreadful but you have to do so in order to start a new relationship. Not all brands may need to go through extensive overhauls; but there are a few that might require such changes in order to achieve profitable returns and a consistent growth. That’s when they should think about rebranding.
- It is like a goodbye to the business you have created around your brand but sometimes it is only for the better.
- Look at it like a relationship which isn’t working anymore.
- Your brand doesn’t seem right for your business anymore, you might have to think of moving on.