Rebranding is an essential strategy for businesses, just like improving their product line or services to adapt to evolving technology and market requirements. In a recent discussion with the renowned Astro Strategist and Business Astrologer, Hirav Shah, we explored the significance of rebranding and the key factors that companies should consider when contemplating a rebrand.
Table of Contents
The Necessity of Rebranding
Hirav Shah emphatically suggests that every product or company may require rebranding at some point. Whether it’s due to declining sales, a tarnished reputation, or a combination of factors, rebranding can breathe new life into a product that no longer resonates with consumers. The challenge, however, lies in finding the right rebranding strategy, as there are numerous examples of rebranding efforts gone awry.
Rebranding Failures and Their Lessons
Hirav Shah points out that even industry giants like Apple and McDonald’s have experienced near-disastrous phases in their history:
1. McDonald’s Health-Conscious Shift:
In the early 2000s, McDonald’s faced criticism for contributing to obesity. Hirav Shah underscores that campaigns aimed at raising awareness of the health risks associated with fast food were rampant. McDonald’s responded by expanding its menu to include healthier options and promoting its commitment to quality under slogans like “I’m lovin’ it.” The lesson here is to listen to public feedback and adapt accordingly.
2. Apple’s Struggle Near Bankruptcy:
In the late 1990s, Apple was on the brink of bankruptcy. However, by focusing on innovative, well-designed products such as the iMac, iPods, and iPads, Apple successfully rebranded itself. The company created a positive customer experience, making every product launch an event and engaging with customers through its retail stores. The key lesson is to produce high-quality products, enhance them with appealing packaging, and provide exceptional customer experiences.
The Rebranding Process
So, how should a company approach rebranding? According to Hirav Shah, this is the crux of the rebranding endeavor. It’s not just about changing the corporate design or repackaging products. True rebranding involves a transformation that goes beyond aesthetics.
Astrology in Rebranding
Hirav Shah emphasizes the significance of astrological compatibility in rebranding. He suggests that factors such as the organization’s name, the selection of partners and key staff, marketing strategy, and brand name should align with astrology for maximum success.
Astrological techniques, combined with modern brand development tools like target group analysis, customer surveys, benchmarking, and web statistics analysis, can help create a brand that aligns with the current trends and resonates with the audience.
Fundamentals of Rebranding
Hirav Shah outlines the key fundamentals to consider during the rebranding process:
- Name of the organization: Ensure it is numerologically and astrologically aligned.
- Partner compatibility: Assess the strengths and weaknesses of partners and administrators astrologically.
- Share distribution: Balance the percentage of shares among partners appropriately.
- Registered and administrative addresses: Ensure astrological compatibility with the organization’s name and key personnel.
- Logo: Design a logo that is astrologically harmonious and conveys the right message.
- Web, print, and digital presence: Align logos, colors, fonts, images, and structure astrologically for consistency.
- Brand name or DBA (Doing Business As): Choose a name that provides direction, purpose, and positively influences sales and employee morale.
Final Words
Rebranding is a transformative process that instills new confidence in a business, helps it adapt to changing market trends, and stay ahead of competitors. It is essential to remain true to your heritage, listen to both supporters and critics, and consider the rules of astrology as a guiding factor in your rebranding journey. With careful planning and a holistic approach, your rebranding effort can be as successful as those of McDonald’s and Apple, as explained by Hirav Shah.
Rebranding is a common strategy used by Indian companies to stay relevant in an ever-evolving market and adapt to changing consumer preferences. Here are a few examples of Indian companies that have undergone successful rebranding:
- Tata Group:
- Tata Group is one of India’s oldest and most renowned conglomerates. In 1998, Tata rebranded itself with the slogan “We also make steel,” aiming to change the public perception that the group was primarily an industrial company. This rebranding helped showcase Tata’s diverse range of products and services, including automobiles, hospitality, and information technology.
- Bajaj Auto:
- Bajaj Auto, a leading two-wheeler manufacturer, underwent a significant rebranding in the early 2000s. They shifted their focus from scooters to motorcycles, emphasizing the tagline “Hamara Bajaj” (Our Bajaj) to connect with consumers on an emotional level. This change in strategy led to a boost in sales and market share.
- HDFC Bank:
- HDFC Bank, a prominent Indian financial institution, successfully rebranded itself to portray a more modern and customer-centric image. They used the tagline “We understand your world” to communicate their commitment to understanding and meeting the evolving needs of their customers. This rebranding helped the bank become one of the largest and most trusted private sector banks in India.
- Airtel:
- Bharti Airtel, one of India’s largest telecommunications companies, underwent a major rebranding effort in 2010. They introduced a new logo and adopted the tagline “Har Ek Friend Zaroori Hota Hai” (Every friend is important). This shift was aimed at making the brand more youthful and appealing to a wider demographic. Airtel’s rebranding played a crucial role in reinforcing its market leadership.
- Mahindra & Mahindra:
- Mahindra & Mahindra, a leading automobile manufacturer, has consistently rebranded itself to maintain its market presence. They have diversified their portfolio, from tractors to SUVs, and have worked on creating a more modern and global image. Mahindra’s rebranding efforts have contributed to the brand’s recognition on a global scale.
- Titan Company:
- Titan, known for its watches and jewelry, has continuously rebranded itself to adapt to changing market dynamics. They have expanded their product line and positioned themselves as a lifestyle brand. This strategic shift helped Titan become one of India’s most trusted and recognized brands.
These examples showcase how rebranding can be a powerful tool for Indian companies to remain competitive and resonate with their target audience. Successful rebranding not only enhances a company’s image but also helps it evolve in response to market trends and consumer expectations.
