Rebranding

Rebranding – a modification of selected or all brand components (e.g., logo, motto, slogan, color scheme, etc.) or, on a smaller level, of a specific product or service. The purpose of rebranding is to refresh the brand, add specific characteristics, highlight changes within the company, shift marketing efforts to other features of the brand or product/service. Usually, rebranding is used when there has been a decline in the value of the brand resulting, for example, from a change in industry trends, increased competition, or a decline in the company’s reputation. Equally often, rebranding occurs when there has been a merger or acquisition of a business.