„« Primary Research is essential. Even if it is only anecdotal and informal. You need to determine your core brand (extended values and brand history/story). It will be important for you to find out what your businesses current customers think of the current brand and where the problems lie. Time needs to be taken and corners must not be cut. A renaming and rebranding exercise has the potential for a business to lose an incredible amount of brand equity if all stakeholders are not considered. What Equity has already been build up and what heritage has already been established? It is important that this is not lost. It could be that the heritage of the business is something that you can leverage your rebranding efforts off. It will be key to recognise what the current brand does mean and what aspects don¡¦t want to be lost. Before beginning a renaming and rebranding project you need to be very clear on where you want to move from. This research will give you a total picture of your consumers, customers and any other stakeholders to help answer these questions.
„« The brand must stand the test of time. You must look beyond your quarterly reports, the process should be both strategic and long term, thought must go into the businesses future direction. Rebranding must involve top management and then filter through the entire organisation. It is not something that just occurs in the marketing department, success requires a collaborative effort among all departments. It involves the entire business, meaning it cannot be rushed. With ever increasing globalisation it is often important that the brand can function globally. Its crucial that you insure that the name and rebranding efforts do not limit the business in terms of its long term vision. This could involve competing internationally. You must choose a name that fits all markets or at least have separate subbrands that are designed to compete in specific markets.
„« The brand name puts a face on the business, it gives your consumers a point of reference when they think of you. Its important that you remember that your brand name and branding efforts are just one of thousands that consumers are bombarded with each day. What makes your brand stand out? Why will they remember you? These questions need to be answered. Does your business name have a story behind it? Its crucial with rebranding that if your name and logo change that all the cosmetic changes take place, everything from new letterhead, business cards, wed design, logo,...