Whatever way you look at it, rebranding is vital in establishing a new market position — but it is also risky. A rebrand is not only expensive to create and launch, but stakeholders may also resist a rebrand because of how a change will impact them. A mediocre rebranding attempt can result in brand confusion and ultimately depreciate the brand. A rebrand requires careful planning and clear and specific messaging for stakeholders.
What can businesses do to stand out in a crowd?
The market has become extremely noisy. Getting your ideal customer's attention is difficult. But correctly positioning your brand and communicating your point of differentiation to your target audience can get you noticed.