Rebranding - Know What, When, And How To Do It In 2022
Rebranding could be akin to overhauling. A business reintroduces itself to the public in so many aspects and not just through a new logo or packaging.
Matt RobinsonJun 10, 20220 Shares143 Views
The main goal of rebrandingis to reintroduce a product or brand in the hopes that this will lead to a big jump in sales.
But that doesn't always happen.
People who buy things don't always like change.
People sometimes even laugh at it.
Take Tropicana as an example.
Tropicana is one of the most popular brands of fruit juice, and its original packaging has the word "Tropicana" in big, dark green letters in the middle.
Right below it is the brand's signature image, which is a bright orange with a straw stuck in it. This gives the impression that drinking Tropicana is like drinking straight from an orange.
Smart, right?
So, to put it another way, why fix something that isn't broken?
Still, PepsiCo, which owns Tropicana Products, Inc., decided to change the brand.
The orange was replaced by a glass of orange juice with a straw.
Also, "Tropicana" was moved to the right side of the package. It is now printed vertically and in the same color as the other text.
To make a long, sad story short, Tropicana's attempt to change its name and image failed horribly.
Insider said that sales dropped 20 percent in the first month after the new packaging hit supermarket shelves.
It's equivalent to an estimated $20 million in lost sales!
How much did PepsiCo spend on the rebranding that didn't work?
From what I've heard, about $35 million.
What is this rebranding thing that could give a brand or product a new lease on life or be the shovel that buries it?
Dunkin' Donuts® Pasadena, CA | 1st Rebranded Location! 🍩☕
The fact that Tropicana's attempt to change its look didn't work shows that its regular customers liked the way it looked before.
Consumers didn't seem to like the look change.
So it makes sense that Tropicana got rid of the new design and went back to the old one.
To help you understand what rebranding is, let's first talk briefly about marketingstrategy.
The American Marketing Association has this to say about what a "brand" is:
“„
A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those Brand Merger Or Acquisitionof other sellers.
One type of marketing strategy is branding.
Marion Andrivet, who started the website The Branding Journal, which is about brand strategies, gives a short explanation:
“„
A product is what you sell, a brand is the perceived image of the product you sell, and branding is the strategy to create that image.
Refreshing your brand can be as easy as changing your logo or as hard as changing your mission.
This takes a lot less time than rebranding your company completely, but you will need to update all copies of your logo, printed materials, website, and other design elements that are already out there.
Before you tell the public about the results of your rebranding, you should let all employees who weren't involved in the process know.
Rebranding is a big change to your brand, and your employees must still be able to recognize it.
Employees who talk to customers and partners, in particular, are a big part of how your brand is seen by the outside world and must be brought up to speed on the changes.
To get a brand back on track after a bad crisis or to fix a bad business reputation.
A strategy can help you roll out a rebrand and make sure your goals are met, whether they are to keep your brand's legacy if your market changes or to launch a completely new brand in response to a crisis.
How do you make sure your brand's values are reflected in everything, from appearance to employee behavior?
Rebranding is an ongoing process. It must be maintained to work.Rebranding has many pitfalls. Companies don't do enough research. So focused on designing and promoting the new brand, they skip market research.