Location :Global
Once you have a brand and it settles, you will know into which part of the Growth-Share Matrix (or BCG Matrix) it would fit. If you find your brand to be in the low growth part and only has a small sliver of the market, then rebranding could be an option for you. You can have an array of reasons for rebranding as this is just one example of why companies engage in rebranding.
Being in the low market share and low growth situation signifies that your brand is a “Dog.” They cost more money than they generate which means that you should pull the plug on that particular brand or initiate rebranding strategies. Not every rebranding is a success so you will have to weigh the options to see if your investment will pay off. As with stock markets, you cannot predict how your brand will fare in the future, but in this case you can make estimations based on pilot studies.
In food and beverage for example, new logos, packaging, and even sometimes names are designed every once in a while. This appears to happen more often at levels other than the premium food market. In any case, rebranding initiates the purchase of the new company name and other packaging because many consumers will want to have the latest look of their favorite team, especially if the rebranding is done correctly.
In this case, the initial customers will actively market your newly revived brand by donning the new colors, logo, etc. As you can see, merchandise sales will generate cash and make it visible to more potential customers, leading to a successful recovery. Again, this is not achieved just like that. Leaving it to the professionals to do the research, design, and branding will most likely be the best option.
