Educational and Research Institute of Economics and Management, National University of Food Technologies (NUFT)

Rebranding

The modern world is developing very quickly, and it means that with the same speed all outdated, so for a successful business you need time to adjust to new conditions. It concerns the brand of different companies.

No matter how famous was not a brand, eventually, sooner or later it will be renew, because gradually popularity grows into banality and the brand becomes boring and palls. All these problems are solved by rebranding.

Rebranding is a change of an existing brand to increase the demand on the products of company, forming of good image at the market, under act of time or on other reasons. A primary objective of the rebranding is the creation for the user of new image of any company [1].

The main reason application of rebranding:

ü the brand is outdated; the appearance of a competitor with a more interesting brand; the brand must perform new tasks; the company changes or covers a new area of business.

In any business it is important not to lose existing customers, tuned under the necessities of target audience, that is why rebranding is first of all sent to the increase of loyalty of consumers. In this situation, updating of brand will strengthen positions of your company at the market. As a result, authority increases.

For example, Apple Inc. is one of the best rebranding stories of our era. In the early- to mid-1990s, Apple was suffering from low sales, low consumer interest, and tons of competition driving customers away from them. The brand didn’t stand for much, and certainly didn’t stand out, until Steve Jobs took over the company in 1997 and started flipping consumer expectations on their heads. With an image of minimalism and modernity, a host of innovative new products, and a series of marketing and advertising campaigns that focused on ideas and experience more than products or purchases, Apple was able to attract a new, diversified customer base, and cement itself as a thought leader in the tech industry. It’s still riding the momentum of that dramatic shift today [2].

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Illustration 1. Rebranding logo Apple Inc.

On the first logo, in 1976, Isaac Newton, sitting under the apple tree. In the same year, the logo was changed to an apple of various colors and then it was simplified and turned into a one-color apple. Presently a company turned a one-color version of the snack apple.

Another example is «McDonald’s». For a long time the chain of fast food associated with nutrition problems. The documentary «Super Size Me» and resulting scrutiny put McDonald’s as a central player in the obesity epidemic, and sales began to drift. For a few years McDonald's changed an idea about itself, becoming the socially oriented brand. A company began to specify PFC- ingredients of foods and advertise products at most with 400 calories.

Illustration 2. Rebranding « McDonald’s Corporation»

The brand was introduced in the more menu of salads, yoghurts and fruit, as well as meet the needs of the coffee lovers due to the McCafe. All changes to the firm fixed in informative materials and advertisement campaigns. Now the profit of McDonald's increases at least on 5% in a year [3].

Creating connections with people is one of the most instinctive of human behaviours. Brand need to connect in order to become trusted and, eventually loved. Coca-Cola made waves in the media when they introduced their drinks label takeover, showing over 1000 names instead of their logo. It wasn’t the first example of personalisation in retail but probably the most memorable.

Illustration 3. Rebranding label «The Coca-Cola Company»

Now many other brands are following suit. The campaign became viral and made markable increases in sales and brand recognition.

Thus, in case of correct application of rebranding clients will look at a company newly. It will be interestingly them, that changed in a company except an external label. Therefore, any rebranding in a short-term prospect will pay attention on itself clients. And in long-term – will allow to conquer a new image at the market. It is necessary to watch after public moods and show solidarity with an audience, listening to her, renewing positioning.

СПИСОК ВИКОРИСТАНИХ ДЖЕРЕЛ:

1. Что нужно знать о ребрендинге [Електронний ресурс]. – Режим доступу: http://basinform.ru/biznec/samoe-glavnoe-o-marketinge/165-chto-takoe-rebrending.html.

2. DeMers J. 5 Examples Of Rebranding Done Right / J. DeMers [Електронний ресурс]. – Режим доступу: https://www.forbes.com/sites/jaysondemers/2016/07/07/5-examples-of-rebranding-done-right/#21d91a44385a.

3. Gasca P. McDonalds’ Rebranding Strategy: Why the World’s Biggest Restaurant Thinks It’s Time to Tweak Its Recipe / P. Gasca [Електронний ресурс]. – Режим доступу: https://www.inc.com/peter-gasca/mcdonalds-rebranding-strategy-why-the-world-s-biggest-restaurant-thinks-it-s-tim.html.