Introduction Rebranding is the way in which a product or service developed with one brand or product line affiliated to a company is publicised or distributed with a different identification. Companies using this trend several times in order to shape their company profit’s from time to time. Rebranding is about strategically reshaping the apple with sharper. Rebranding has taken a shape of regular trend from the last decades. Rebranding the U.S. With Obama Origin of Rebranding
Brand derives from old name brandr which “means to
burn”.Rebranding is not an innovative invention by the new world researchers but this way of promotion is carried on from past decades. Owner of the cattle marks their animals by some mark on their body so that can identify which is the cattle that is to be sold in market A potter identifies his pot by putting thumb print into the wet clay or by making star,cross or a circle on the pot. Types of Rebranding Corporate Rebranding – This means organization is having moral responsibility of providing quality products, service, and delivery to customers Employer Rebranding – It plays an important role to make employees to understand the vision, mission, goals, products, and services of the company Cause Rebranding –In order to attract customers by associating the company with a cause or purpose that potential customers would find beneficial to fulfill their personal goals or values Spirit Rebranding – It means slogans which are used while selling the product to consumer market. Society Rebranding- It’s a promise to the people in the society that this company will be a valuable partner to them in the future course of action. Culture Rebranding- Culture rebranding is keeping promises to employees in relation to their working environment and relationship to their leaders and managers Need of Rebranding Creation of Clarity and Alignment: Let’s Try simple test: confirm from five staff members what the company does and what sets it apart. Organization that is torment from poor positioning, you will get four to five different answers. So If the staff members, who are in contact with the organization, can’t get it right, how can consumer prospects be right
to understand and value the company’s positioning.
Enrichment of New Business Opportunities:New Business opportunities means, you re given more chances to bat and rebranding ensures you that right ball comes on middle part of your bat to hit six at each and every opportunities that prevails in the market Easy Winning Strategy Through Distinctiveness:If you’re “on their radar” and properly positioned, you’ll be on the short list from the starting point and the radar is going to aim without any mistake. Companies contend on Something Other Than Price:Company may think it is exclusive and more precious, the market views the company’s offerings as commodities with plenty of realistic and available substitutes Enhancement in Value Edition of Company:In a simple language we can portray value of any company is based on the firmness of expected cash flows in future years Creates Endless value Of company: Proper rebranding in the marketplace can help companies win business without relying on the real or perceived assistance of company owners Three Rebranding Exercises
This is a series of three case lets that would help
highlight the issues involved in rebranding, especially a corporate rebranding exercise. Hindustan Unilever Ltd. Vodafone Axis Bank Hindustan Unilever
This case is providing a detailed description on rebranding of
India's leading fast moving consumer goods company Hindustan Lever Ltd. (HLL) to Hindustan Unilever Ltd. (HUL). After a time span of 51 years as Unilever subsidiary’s existence in India as HLL has would be called with parent’s company name. It was done to obtain benefit by making the brand name to be familiar globally. Axis Bank This is in relation to the rebranding of one of India's top private sector banks, UTI Bank, to Axis Bank.This was done in order to stop paying royalty for the use of the brand name 'UTI' that was also used by some unrelated entities, the company decided to go for a brand name that was culture neutral and had a global appeal. Axis Bank's also reassured the bank's customers that nothing had really changed in the bank apart from its name. Vodafone This is in relation to the rebranding of famous Indian telecom brand 'Hutch' to 'Vodafone' after the world's leading telecom company by profits Vodafone Plc. (Vodafone) acquired a majority stake in topmost telecom companies in India Hutchison Essar Ltd. Vodafone campaigns tried to leverage on some of the previous ads of Hutch to initiate the relatively unknown Vodafone brand (in India). Conclusion Rebranding involves repositioning of the brand /company, generally in an attempt to distance itself from certain negative connotations of the previous branding, or to move the brand up in the market. Rebranding does not intend to change corporate identity of some company but to give it a refreshing look.