Rebranding and repositioning, though two entirely distinct but equally crucial aspects of brand structuring,
Rebranding, Repositioning - Which One’s Your Game Changer?
Rebranding and repositioning, though two entirely distinct but equally crucial aspects of brand structuring, are often misunderstood by the major portion of the population. Knowing the difference between the concepts of rebranding and repositioning and which one your firm needs is often the difference between the success and failure of your restructuring venture. Today. the consumers are faced with a myriad of brands to choose from. Since most of your competitors probably offer similar products and services, to truly stand out, you must consistently deliver a positive, memorable experience each and every time your customers think of or interact with your brand. A regular review touch points and evaluations of how well you are expressing your brand’s position and its promise is a very important aspects of a brand’s success.
Rebranding is a company changing its logo, name, symbol, or design (whether the change is barely noticeable or drastically dissimilar) to create a different marketplace identity. While repositioning occurs when a firm changes its brand’s attributes to influence the way the market perceives the brand. Rebranding deals with outward facing factors and repositioning knows that it’s what’s inside that counts.
Rebranding is a cosmetic change or an aesthetic overhaul, it is the development of a new brand image but repositioning digs deeper by refining the personality of your brand. It can come with a change in products, but often repositioning works as a way to better highlight a current product line in a new way. It involves identifying the right markets and the right placement of product or service. .
Brand repositioning is when a company changes a brand's status in the marketplace. This typically includes changes to the marketing mix, such as product, place, price and promotion. It is done to keep up with consumer wants and needs and encompasses determining the right moves to establish the company or brand as a market leader. Aligning staff members. Refining and aligning product and service offerings. Identifying, introducing, and integrating new practices that deliver the brand and drive differentiation. And lastly, making sure that marketing communications vehicles support the desired position in the marketplace.
Creative brand repositioning can revitalise a flagging brand and give new customers reasons to try your brand and existing customers new reasons to remain loyal to your products or services for years to come. People often get lulled into thinking that rebranding is going to solve their problems and make prospective clients want to buy their stuff. But, it rarely turns out that way; putting fancier wrapping and ribbons on the same gift doesn’t change the way people perceive the gift itself. It can overwhelm their senses for a while but they will eventually come around to the productivity of what is inside the package.
While rebranding is often a valid and valuable part of repositioning, rebranding is most often about the wrapping. Repositioning is about making sure the gift is as good as the wrapping and ribbons. With a well-honed brand repositioning strategy that’s clearly and consistently communicated, your customers will perceive your brand as a trusted option that delivers on its promises.