Every brand is constantly developing and changing according to natural evolution and modification in the surrounding environment, market system, end-users preferences and competitors’ activity. The inner changes of brand are reflected in its outer image, they update brand and inform the end-user about the modifications, unveil the essence of the renovated brand.
As for brand strategy there are two types of changes: restyling as partial or complete change of brand communication attributes, and rebranding as a complex solution of brand repositioning, change of its strategy, ideology and inner values that cover all the aspects of brand life.
Brand restyling is a change in the system of brand visual identification, quality renovation and updating of visual image of the brand with the same name, same values and ideology.
As a rule, the basic restyling targets are the following:
- Brand logo
- Corporate identity
- Packaging design
Need to restyle may be caused by:
Demands of time period, loss of visual image relevance with the course of years;
Incompliance of the current visual image with the brand market segment, with its positioning and commercial targets of the project;
Complications of identification, memorability, difficulties in perception of brand visual identification elements;
Ordinariness, low level of distinguishing from other competitors;
Undesirable associations brought up by brand logo.
Rebranding is a deep and thorough change of the brand at all the levels (from ideology, inner values, brand strategy to name and all outer aspects of the brand – logo, corporate identity, etc.).
Rebranding is a serious strategic step which implies the presence of serious marketing research and exact estimations. This brings completely new brand onto the market which demands considerable investment.
Objective reasons for rebranding are the following:
Serious structural changes within company – consolidation or merger that in fact demands the creation of the new brand;
Expansion and entry onto the new markets;
Considerable change of the market environment such as entry of the stronger and more aggressive competitors, new innovation technologies that demand brand to immediately react and develop new brand strategy, new branding, etc.;
Negative reputation, which can be eliminated only by integral rebranding and development of perception of completely new brand;
Change of the brand role in company policy.