The advantages and disadvantages of rebranding

Rebranding is an option that business owners often overlook, but keeping your look, feel, and values fresh can be the key to keeping your company at the top of your industry. Ask yourself these questions: Why are you thinking about rebranding?

The advantages and disadvantages of rebranding

Companies convey brand identity through a variety of communication vehicles, including advertisements, brochures, packaging, catalogs and business cards. Brand identity is important because it lies at the heart of a brand's marketing strategy and clarifies what a particular brand stands for.

Despite its significance, brand identity has several disadvantages and limitations. Complex The brand identity building process is complex.

This is especially true for organizations that offer a range of services and products. The process entails extensive research, including market research, marketing audit, competitive audit and usability, and a clear branding strategy.

Furthermore, a brand identity is only truly successful when customers closely identify with the brand. This happens when a brand caters to customer requirements and preferences. Marketers have to keep this in mind and ensure that the brand identity is aligned with, and relevant to, its customers.

The Pros and Cons of Rebranding: Is It Worth It?

Expensive to Design Designing and creating a brand identity is expensive and time consuming. Brands either delegate the task to their marketing teams or hire consultants who charge by the hour and spend many hours in close consultation with managers before they decide on the brand logotype, color, typography, sound, motion and other key elements of the brand identity design.

Trial applications are run before the identity is presented for approval. The approved identity is then trademarked and translated to the company website, business cards, letterheads, packaging and advertising. Each step of the process entails heavy funding and expenses.

Difficult to Maintain It is not always easy for companies to maintain brand identity. This is because of changing customer preferences, product or service diversification or company expansion.

Marketers must choose marketing channels carefully so as to not tarnish the brand identity. For example, a company that manufactures top-of-the-line electronic equipment may hurt its brand identity by renting out shelf space in a discount or bargain store.

This also makes sustaining brand identity difficult. Difficult and Expensive to Change Changing and modifying brand identity is difficult and entails extensive planning and managerial skills. Managers responsible for the change are required to possess sound public relations, branding, communications, productions, marketing and management expertise.

Information about the change must be conveyed to customers and other stakeholders. Change often is met with resistance and a brand may lose valuable customers. Furthermore, changing brand identity is expensive as it directly affects numerous applications and each needs to be subsequently changed, including business cards, stationery, forms, marketing materials, websites, directory listings, name tags, uniforms and signage.

Spreen; About the Author Natasha Gilani has been a writer sincewith work appearing in various online publications. She is also a member of the Canadian Writers Association.

Gilani holds a Master of Business Administration in finance and an honors Bachelor of Science in information technology from the University of Peshawar, Pakistan.What are the advantages and disadvantages of branding?

Advantages: identity to the product it distinguishable from the other products. schwenkreis.coms customer loyalty.

schwenkreis.coms and maintains organisation goodwill. Disadvantages: a. High investment required. create negative image, if the brand fails in the market. Rebranding is expensive and involves a quantity of risks.

Necessity to explain to loyal customers the reasons of rebranding and its benefits has to be anticipated. This is an expensive and not one hundred per cent successful undertaking.

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The advantages and disadvantages of rebranding

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What are the advantages and disadvantages of branding? Advantages: identity to the product it distinguishable from the other products. Rebranding has become a real trend in the last decades, with some companies rebranding several times.

There are plenty of successful and unsuccessful examples of rebranding which was done for all possible reasons from attempt to rebrand itself to desire to shed the company negative image.

Advantages and Disadvantages of Branding