Rebranding is a marketing strategy that leads to change in name, term, symbol, design of an existing brand with the intention of developing a new, differentiated identity in the minds of consumers, investors, competitors, and other stakeholders.

In the process of rebranding, carving out an altogether new brand is a big challenge for most business. To help organizations to handle the process of rebranding in an efficient manner Entrepreneur contributor Vanita D’souza has offered five tips keeping in mind Dale Carnegie, a 105 –year-old talent-management company.

D’souza says, “Although Dale Carnegie, the Founder, did a thorough research before setting up the company due to which the brand keeps a close grasp on market trends, most people still know Carnegie for the book he has written.

Until a few years back, the brand was mostly popular among middle-aged people and millenials were hardly aware about it.  That’s when the traditional company realized that it was time to change and be more relevant to the youth.

#Perspectives

Engage as many people as you can because individuals have a different perspectives and every body’s perspective is valid. Bonterre gives example of her own company which invited all their business leaders from all over the world including countries like India, Brazil, Mexico, China, Canada and UK and talked about what is it that makes them different.

#Marketplace

Take perspectives not just from your employees, but also from the marketplace. Know how your competitors are positioning themselves”.

#5 Rebranding Tips From A 105-year-old Company

Entrepreneur

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