Businesses and industries change all the time, even in the automotive industry. Eventually, this change brings the need for rebranding. Rebranding refers to changing the public image of a company. The industry recently saw a big shakeup when three of the biggest names in the business – BMW, Nissan, and Volkswagen – adopted a more minimalist logo design. Here’s why they did it – and why you need to consider doing it too.
Why Do Companies Rebrand In the First Place?
The branding of a company is the core identity of that company. There’s more to a brand than just the name of a business; it fuses together all the core ideals, standards, values, and characteristics an organization represents. Think of it as being like the personality of your company.
There comes a time when even beloved and respected brands have to reassess their personality, which leads to a rebrand. Companies change their branding for all kinds of reasons, such as changing times or messaging updates.
Sometimes a rebrand is necessary because of more complex reasons, such as a shift in social dynamics and the way specific images are perceived. This is less common in an industry like the automotive one, but it can happen.
The top five reasons brands change are:
- The launch of a new product or service
- A lack of customer engagement
- Bad reputation
- Lack of clarity and consistency