Pooja Bahl
Jayashree Badal
Priya Sabhlok
ABSTRACT:
WE live in an age when attitudes are not to be simply kept deep within but must be slipped on as a T-shirt or footwear. And company names need not be anything to do with the promoters but are to reflect ideals even if unreachable. When a brand owner revisits the brand with the purpose of updating or revising based on internal or external circumstances. Rebranding is often necessary after an M&A or if the brand has outgrown its identity/marketplace. The decision to rebrand is about much more than a change of logo, and should not be taken lightly - it can mean making changes to the very heart of a company.New year, new logo. As makeover mania takes hold, some of the world's most iconic brands are starting the year with a new look. ITV has ditched its yellow and blue boxes, computer chip maker Intel has introduced a new strapline, and telecommunications giant AT&T has undergone a facelift.Like any image overhaul, a rebrand can enable a company to update its message, signal a change in direction or appeal to new audiences. For every business, the health of its brand is key to its success."The brand is the emotional heart of the business," says Clare Salmon, director of marketing and strategy at ITV. "If the heart stops beating, the beast is going to die."For ITV this is its fourth rebrand in the past 10 years; the latest aims to give the broadcaster more clarity in the digital TV landscape. Intel is casting off its 37-year-old logo, "Intel Inside", for the more futuristic "Intel. Leap Ahead" and AT&T has a new identity to expand its appeal in the global market.But as brands cast off the old, they could be waving goodbye to loyal.
Rebranding is about striking out one dictionary meaning and inserting another,rebranding should "create some surprises" around the brand, inviting consumers to reassess their opinion.The risks of a rebrand can be huge, but get it right and it can boost and refresh a business. James Murphy, chief executive of advertising agency RKCR, worked on an overhaul of retailer Marks & Spencer at a time when the company was on its knees. Retail tycoon Philip Green was bidding for the company, and no less than a "symbolic refreshment of the whole business" was needed. The new logo "Your M&S" was the result, and it has helped turn the company around.Successful rebrands are about balance.The value of the brand remains while signalling a change in direction. "It should be about a positive evolution not a desperate revolution." A frequent pastime among the big players is to engage in Rebranding, with as much fanfare and market survey as they do for changing tiles in their bathrooms.
The main objective of paper is to know hen,why and how to rebrand. I have tried to find answers to few questions:What is orginal brand and what to change in it? What are drivers of rebranding?What are the issues that lead to decision of rebranding? What are the potential benefits of rebranding? Can rebranding hamper a company’s image or working? What are the strategies of rebranding? How many companies have undergone process of rebranding in 2007 under what circumstances? What is the impact of rebranding on consumers loyalty? In year 2007 many organisation’s have undergone through process of rebranding. Hutch turned to Vodafone, Air Deccan to Kingfisher, new logo of ZEE Television,etc are few of the companies which have undergone process of rebranding. With this paper I have tried to highlight why, when, how, rebranding was adopted and how successful is it. We always learn from past and by this paper we can learn what are pros and cons of rebranding and how rebranding can be turned to success.
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