Repositioning versus Rebranding: Understanding
The Distinctions
Business can be tough. And for various reasons, companies often face the need to evolve to stay relevant. Two primary strategies for growth evolution are repositioning and rebranding. While these approaches are sometimes used interchangeably, they refer to distinct processes with different objectives and scopes. Understanding the difference between repositioning (which we also might label as "reframing") and rebranding is crucial for executives and marketers aiming to steer their companies toward sustained growth and relevance.
Let's start with the words themselves. "Repositioning" typically means a change in how you market your brand or product to achieve a new positioning in the minds of your current and potential customers. "Rebranding" means to create an entirely new brand, building off the strengths of your legacy one, that involves a new name, new service model or products, a new promise to customers and employees, a new customer experience, and a new look and feel to your company. It is a far more comprehensive effort and change.
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