They must update their value to reflect what the brand wants today.
This piece recommends steps to follow for a successful rebranding. Primarily, brands must determine their actual market and audience. It’s important to have a clear understanding of the company’s vision and ensure that all employees are making decisions with the vision in mind.
Over time, with a businesses’ expansion and the changes that follow, some founding values could end up being unsustainable. In such cases, those values must be updated to reflect what the company values currently.
When updating a slogan, a new one could make a claim or be instructive or compliment customers. Brands are structured to connect companies with their customers. If a company is repositioning to target new customer profile through product, place, price or promotion, rebranding could be the right approach.
[15 minute read]