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Why would a business want to rebrand?
A business would want to rebrand because it wants to change its corporate image and message with the primary objectives of increasing brand awareness and generating more revenue.
When a company or business rebrands, it is usually in an attempt to change consumers' perspectives of the business or to have consumers realize a new facet of the business.
Businesses should have a brand identity that perfectly fits the character and style of a business, industry, or market. And more importantly, the brand identity must reflect the target audience and consumers of that business in terms of its personality and style. A rebranded business also has the potential to reach new customers and markets.
Many times businesses will rebrand because their branding is outdated and doesn't align with the current trends in their industry or marketing practices in general. Even legacy companies can go through rebranding if their branding feels dated or if they are adding new services or products requiring a rebrand.
Here are some of the top reasons businesses want to rebrand:
To expand and grow
If the business or company comes under new management that has new ideas about the direction, brand, and overall tone of the business
Fluctuations or changes in the industry and financial markets can cause companies to rebrand
To keep up with trends in an industry, or overall marketing trends
When technology advances
In an attempt to stay ahead of competitors
When looking for a significant way to improve and change the business
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