Yes, Crazy to renew the perception of others over them. In this globalization phenomenon Business can’t be done by prophesying, Instead Business progresses by being Spontaneous, Here comes the Concept of rebranding.Rebranding is none other than celebrating the death of old image to relish its newer image and presence in the mind of society. Really present corporate are going crazy when it comes to rebranding. Craziness involves innovation in delivering new image, It also involves level of investment .But the success factors are registered by the effectiveness of their rebranding campaign. In global and Indian perspective few corporate stood out by enticing the rebranding process with a great deal of care and cash.
Godrej,a corporate tat really stood a hall mark in relishing its image among public. They insisted their Diversification skills on each and every move of their campaign. The level of intention taken by Godrej is immense .Without affecting the Core value and Products they rebranded their position in all terms as they wish. Century old Locksmith giant now known for real estate, Interior Design,FMCG,Secuirty Solution , Agri care, Industrial Engineering and Appliances. This 9,000 crore Corporate had Spent Rs.100 crore in marketing across all groups. Rebranding Consultancy: Inter Brand Consultancy, Creative Agency: JWT
Videocon, a Color Tv Company at Birth, Now turned its Diaspora to new boundaries in the Span of Quarter Decade in the areas of Consumer Electronic, Appliances, Oil Exploration and Now a telecom company. Experiences a drastic change at the verge of Globalization. There rises need for Rebranding strategy.Videocon relatively rebranded itself more dynamically stressing the change that it sought.For fresh look the $2 billion dollar company had spent Rs.200 crore with the support of .Media Agent; Zenith Opti Media.Creative Consultancy:Macann Erickson,T.A.G.
Yet another $3.03Billion company changed its dimension with newer intentions is Murugappa Group. Fourth Generation,Century old company revamps its logo to reinstate the strategic image and Diversification Nature. Investment Firm at the early stage, Diversified its avatar as Cycle Company, Fertilizer major, Agro Products and Abrasives.Predominantly B2B Conglomerate,Murugappa Group had spent Rs.10 crore as part of their Rebranding campaign.Primarily backed by KPMG for Rebranding.
Airtel, Transcends from Indian to global telecom major after series of acquisition in South Africa, Bangladesh had changed its Visibility in a brand new appeal. World’s fifth largest telecom company had spent Rs. 300 Crore For Branding, Marketing and advertising. A huge pie for makeover was exhibited by creative and communication Partner: JWT.(Rebranding ,a great question mark in the case of Airtel) Many more companies had gone crazy in the makeover melodrama for actively participating in competitive economy.Rebranding list includes Xerox, Pepsi and many more. Makeover mania is the part of Corporate Craziness. Repositioning is the process of overshadowing the newer version exactly with the earlier one,Thus rebranding is vital when a corporate gets newer and newest boundaries in this current scenario. Rebranding is ceremonial system deliberately insisting ‘’Celebration of death ‘’ Due to Emergence of refreshingly newer image and Customs at large.
Rebranding Theoretical perspective
Branding is the process fabricated for Bonding. To me “branding is the process performed to make others to Perceive as we wish “and branding is not pertained to a product or service it is meant for each and every creature in the universe. A brand is defined as ‘a name, term, sign symbol or a combination of these that identifies the maker or seller of the product’-Philip Kotler and Gary Armstrong. Increased competition leads to drastic change in the market atmosphere, Hence the corporate has to reinsist their presence in a renewed form. Thus rebranding becomes more vital in the Current Global churn out. Rebranding is the process exercised by established brands. Execution of Rebranding involves the similar process of branding, Primarily through the orchestration of a variety of tools, including advertising, PR, sponsorships, events, social causes, clubs, spokespersons and so on .Key issues of rebranding process
Before Planning and execution of Rebranding exercise, key things to be noted are:
- Knowing accurate Perception about Brand in current Scenario
- Need for the Hour
- Delivering the Message without Disturbing the Perceived value, It must be Supplement to the Fundamental value in case of Diversification process.
- Logo and Slogan should be more Impressive, in order to revamp the older ones from the minds of Customer
- Rebranding should be realized by the Inner customer before letting it out.
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