Monday, December 30, 2019

Rebranding Is A Risky And Heavy Financial Investment For A...

Rebranding is a risky and heavy financial investment for a brand to activate in order to reenergize a mature brand and position it in the market as a leader while being relevant to its target consumers. Rebranding can be a minor adjustment or a major change. In order for a brand to be successful in rebranding the market manager must follow multiple steps prior including researching of current sources of brand equity and decide how to move forward with the positing considering its target consumer. In rebranding one or several issues the brand is facing may undergo modifications to include logo change, product change, pricing change, change in advertising message, a change in advertising media, distribution channels and others. Rebranding- what is it and why? Rebranding is a strategy, marketing managers implement in order to communicate a more relevant brand promise for an established brand. Rebranding can involve a complete makeover, subtle change, updates or addition of a new element. Initiatives could involve single or multiple changes of a promotion mix to include; a new name, logo, symbol, design, change in product positioning, slight change of a message or combination of changes with the intention of developing an innovative, unique identity in the minds of target consumers, stakeholders, and its competition. Proactive or Reactive actions drive brands to modify their current state. If an opportunity presents itself or environmental trends predict aShow MoreRelatedFinancial Analysis : Abercrombie Fitch1698 Words   |  7 PagesDespite Abercrombie Fitch’s efforts to win back loyal consumers with their new rebranding initiative, the company continues to experience a decline in annual revenue and dismal growth coupled with a poor return on investment, making it a risky investment option for potential shareholders. 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