Topic this week is Rebranding, in the news this week for example Hershey’s updatedΒ their logo.
They updated it to a more modern look, appealing to the younger generation with a clean typeface and vector candy image. Why would anyone care about brand redevelopment? Companies choose to do so every few years to refresh their look and/or help with a launch of a new initiative.
5 Reasons to Rebrand:
Growth: A business may start off small and when they are large enough to enter the bigger market they choose to update their brand to be taken seriously and at this point they will most likely have more capital to do so.
Fundamental Change: Company may be going into a “green” direction, or added on new products etc. They choose to reflectΒ this in their branding.
Stand out: In a competitive market, you need to be able to stand out with products and your image. A company may choose a edgier look to stand out amongst their competitors.
Staying Relevant: Companies will rebrand to stay relevant with their target audience. Retail stores will do this often to market themselves with the newest generation that may shop there. This is to eliminate anything negative in their past.
Relaunch:Β Introducing a new service or product with a facelift and again to remain relevant.
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