By M. Isi Eromosele
Even though a company is maintaining a strong brand in its marketplace, there are many instances when it would be necessary to launch a corporate rebranding program to reposition the organization’s market position. The business objective for such rebranding strategy implementation is to reinforce the strength of the company within its marketplace in a more convincing and influential way.
Concisely, corporate rebranding strategically enhances the image of the company in a well defined way that gives the organization more precise differentiation.
The branding of most companies is initiated with generalized positioning at its core. The thinking is that its message should be spread far and wide in order to capture more market share. This type of branding results in the company not been established as an expert in any given niche in the market. As such, people are not impressed in recognizing it as an expert in any particular area of its expertise.
General corporate positioning places the company in its market as a generalist. The result is that the company has to work a lot harder to win business. It is imperative that companies be branded as specialists in business areas where they are strong.
A company can polish its market repositioning through corporate rebranding, redefining its message to make it more persuasive. During the rebranding strategy development, the company’s critical success factors will need to be scrutinized in order to successfully differentiate it in its marketplace.
While individual company situations are different, the implementation of rebranding strategies would invariably involve changes to a company’s marketing message. Additionally, there will be modifications in the design and delivery of the company’s modes of communication delivery.
In the global business world, many brands are corporate brands. The reputation of a company is the backbone of its brand or brands. This is because customers relate with the organization that produces the product than with the product itself. Non-corporates are usually the result of the acquisition of another company or a product line that does not have a long history and association with the principal corporate entity.
Another major business objective of implementing rebranding strategy is to increase the overall brand equity (brand value) of a company. A company’s valuation increases in tandem with the rise in its brand equity. Value is driven by differentiation and significance. A brand achieves sustained growth behind the strength and individuality of its corporate parent.
This is where the capability to transfer value lies. As such, implementing rebranding strategies should be done with focused objectives of increasing brand equity and strengthening corporate self-sufficiency. This in turn will power strong brand propositions, increased revenues and sustained growth.
M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance
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