To: Allison Tanney
CC: Robert Duchamp, Raymond Burke
From: Edward Kenway
Subject: Rebranding Strategy
Date: 5.13.2014
Rebranding is a risky and potentially dangerous move for any company. While the possibility for success and a growth in sales and market penetration is present, we also risk a negative reaction from current consumers followed by a decline in profits.
We should consider previous instances where rebranding efforts have been used and what their outcome was. In 2009, competitor Tropicana attempted to rebrand and reinvigorate their current market share with a new package which was met with intense consumer backlash and overall decline in product sales (Gagliano, G. (2004). This can serve as a potential benchmark for an outcome we should prepare for should be attempt a rebrand and fail. However, rebranding has had successful instances as well by updating the product image to serve with contemporary times. In 2010 Old Spice rebranded by using clever and humorous commercials featuring celebrity figure Isaiah Mustafa in a series of commercials that were quick and memorable and sparked curiosity in the brand.
An additional secondary source would be to study the website of our current number one competitor. Review their current market strategy and follow up on public web sites and blogs to view consumer responses to their product. By studying what consumers wish was different about the competition we can seek to implement such changes in our own brand and in essence “beat them to the punch” by addressing complaints about others in an effort to make our brand more appealing.
Should we consider moving forward with a rebranding strategy I recommend we first conduct field research of our own. I would first start with focus groups to assess the appeal of proposed new logos and response in comparison to the brand and logo we currently use. Focus groups would allow for a diverse range of