Rebranding
Wikipedia, the free encyclopedia, 21 April, 2009. http://en.wikipedia.org/wiki/Rebranding
Rebranding is the process by which a product or service developed with one brand, company or product line affiliation is marketed or distributed with a different identity. This may involve radical changes to the brand's logo, brand name, image, marketing strategy, and advertising themes. These changes are typically aimed at the repositioning of the brand/company, usually in an attempt to distance itself from certain negative connotations of the previous branding, or to move the brand upmarket.
Rebranding can be applied to new products, mature products, or even products still in development. The process can occur intentionally through a deliberate change in strategy or occur unintentionally from unplanned, emergent situations, such as a corporate restructuring.
Corporate rebranding
Rebranding has become something of a fad in the last decade, with some companies rebranding several times. The rebranding of Philip Morris to Altria was done to help the company shed its negative image. Other rebrandings, such as the British Post Office's attempt to rebrand itself as Consignia, have proved such a failure that millions more had to be spent going back to square one.
According to Sinclair (1999:13)[1], business the world over acknowledges the value of brands. “Brands, it seems, alongside ownership of copyright and trademarks, computer software and specialist know-how, are now at the heart of the intangible value investors place on companies.” As such, companies in the 21st century may find it necessary to relook their brand in terms of its relevancy to consumers and the changing marketplace. Successful rebranding projects can yield a brand better off than before.
Due to the tremendous impact that renaming and rebranding a company can have, it is critical to take the client through the process with great sensitivity and care. The new company identity and brand should also be launched in a subtle and methodical manner in order to avoid alienating old customers, while aiming to attract new business prospects. There is no magic formula, however, there is a methodical process which involves careful strategy, memorable visuals and personal interactions, all of which must speak in unison for a customer to place full trust and invest their emotions in what is on offer.
Marketing develops the awareness and associations in consumer memory so that customers know (and are constantly reminded) which brands best serve their needs. Once in a lead position, it is marketing, consistent product or service quality, sensible pricing and effective distribution that will keep the brand ahead of the pack and provide value to its owners (Sinclair, 1999:15)[2].
New Coke and British Airways ethnic liveries are both attempts at rebranding that had to be aborted due to a poor reception from the public. BA's world art tailfins were well received abroad, but failed to please the carrier's key customers, British and North American travellers.
Product rebranding
As for product offerings, when they are marketed separately to several target markets this is called market segmentation. When part of a market segmentation strategy involves offering significantly different products in each market, this is called product differentiation. This market segmentation/product differentiation process can be thought of as a form of rebranding. What distinguishes it from other forms of rebranding is that the process does not entail the elimination of the original brand image. Dexxa computer mice are rebranded Logitech devices sold at a lower price by Logitech in the low-end market segment without undercutting their mid-range products. Rebranding in this manner allows one set of engineering and QA to be used to create multiple products with minimal modifications and additional expense.
Following a merger or acquisition, companies usually rebrand newly acquired products to keep them consistent with an existing product line. For example, when Symantec acquired Quarterdeck in November 1998, Symantec chose to rename CleanSweep to Norton CleanSweep. Later on, the company chose to reposition its entire product line by grouping products into a bundle known as Norton SystemWorks. Symantec is not the only software company to reposition and rebrand its products. Much of Microsoft's product line consists of rebranded products, including MS-DOS, FoxPro and Visio.
Another form of product rebranding is the sale of a product manufactured by another company under a new name. An original design manufacturer is a company which manufactures a product which is eventually branded by another firm for sale. This is often the case with international trade. The manufacturing can take place in a place with lower operating costs, while being sold under a local brand name.
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