Time to Rebrand during a Slowdown
Is your brand ready for a rebranding exercise? Most brand managers never want to understand the merits of this exercise. Too much is at stake and too little to gain are the common thinking. In a way maybe they are right. In a world where few people remember which brand they purchased yesterday, would a rebranding exercise really matter? The question arises here – whether any rebranding is meant for the prospective customers or is it for the good of the brand itself? A brand as we all know is a dynamic entity and it grows over time and even ages with time. As circumstances change and consumers outgrow a brand it becomes mandatory for brands to reconnect with new-gen users as new avatars. Whether this is a consumer-centric or a brand-centric exercise is another debate but users do change, and tech does change lives and the way people live their lives. For e.g. post the pandemic we all have changed our attitudes towards so many things in our lives both knowingly or even unknowingly.