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ISSN 2063-5346
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MEASURING THE IMPACT OF REBRANDING ON CONSUMERS WITH RESPECT TO BRAND EQUITY

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Dr R Muthukrishnan , Ranjan Vishal PC , Vedika Krishnaraja , Srinandhini R V , Yeswanth R
» doi: 10.48047/ecb/2023.12.si4.413

Abstract

Rebranding can be a powerful tool for revitalizing a company's image and repositioning it in the market. To successfully rebrand a product or company, it is important to first define your brand's essence and conduct thorough market research to understand your target audience and their preferences. From there, you can develop a new brand identity, including a new logo, colour scheme, typography, and messaging, that aligns with your brand essence and resonates with your target audience. To launch your new brand, plan a promotional campaign that reaches your target audience through social media, email marketing, and PR outreach. Finally, it's important to monitor customer feedback after the launch and make adjustments to your brand strategy as necessary. With careful planning and execution, a successful rebranding strategy can help your company or product stand out in the market and drive growth. The study concluded that introducing distinctive, unique features or characteristics to a product with the aim of ensuring a unique product selling proposition is product differentiation. It helps a company in achieving a competitive advantage over other firms that offer substitutes of a similar product. In a client’s purchase decision-making process, product differentiation serves as a catalyst. It acts as the deciding factor in purchase decisions and sets one product apart from the rest.

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