Description
Identify one current struggling consumer product.
Access the GCU Library business data bases. Research "rebranding strategy."
In a paper of 750-1,000 words, present a rebranding strategy for the product, including the following:
- A new name
- Changes in packaging
- The price point
- Product position
- Advertising strategy
- A distribution method
- Improvements in design or quality
Prepare this assignment according to the guidelines found in the APA Style Guide
Explanation & Answer
Hi, kindly find attached
Running Head: REBRANDING STRATEGY
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Rebranding Strategy
Student’s Name
Institution
Date
REBRANDING STRATEGY
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Rebranding involves the procedures of changing the commercial image of an organization.
It is a market approach of giving a new brand name, representation or change in design for a brand
that is already recognized. The initial idea for rebranding is to generate a diverse identity for a
product, from its rivals in the market. Rebranding is a good idea, but at some stage, it might be
dangerous since there is the likelihood that the customers might dislike the new trademark. In this
case, a good strategy for rebranding needs to be well outlined for better results. Consumer products
are struggling to reach the customers and also compete with their rivals in the market, which they
opt for rebranding.
A brand will not do well in the current market place if it cannot engage the consumers no
matter how numerous ads are played and no matter the way one does communal networking.
Several consumer products are struggling with how they can regain their market once again. One
of the consumer product that is struggling is the Iconic retailer, Sears Holdings (SHLD), at some
time a bellwether vendor figurative with American middle class and this company requires
rebranding. In recent, the company has been reporting a net loss that is attributable to sha...
