Rebranding

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REBRANDING

Introduction

Branding is the use of a symbol, name, design or it could be a combination of these to identify a product or a business. Branding started in Europe during the middle ages where a group of people with similar interest (merchants) got together (very similar to trade unions) so that they could control the quantity and quality of a good or service. Each person involved in this group had to mark their product so that output could be cut back when necessary. This helped to identify merchants that delivered poor quality products. In other words it separated the good merchants from the bad. It also provided protection for the buyer who could identify the product to the merchant.

To achieve optimum advantage when deciding on a brand, the consumer’s perspective must be taken into account. Well recognized brands make shopping easier. Buying a car for example, it would be impossible if consumers had to evaluate the disadvantages and advantages of each of the tens of thousands of cars every time they went to a car dealer. Consumers are always willing to buy new items but if they are not rewarded, they would buy from a known brand.

Branding

Branding is a process that is used by the businesses to utilize marketing strategies to enhance their product or service image so that it is more readily recollected by the customer. Branding helps the product or service to make a favorable impact on the target customer while the branding concepts help in outlining the guidelines that should be followed during the branding process.

Building a brand helps customers in their decision-making, creating a perceived knowledge of what they are going to buy, before they buy it. Brands are based on three related criteria. Confidence in a business, product or service doing exactly what the customer already believes it will do. For example, a 24-hour convenience store brand can be based on customers' confidence that it will be open, whatever the time of day or

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