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REBRANDING Vs DEVELOPMENT

Uncategorized February 16, 2017

Rebranding is referred to as a marketing model in which a new name, term, symbol, design or a combination of these used in creating or recreating an existing brand with the intention of developing a new, differentiated identity ,in the minds of consumers, investors, competitors, and others.
Rebranding can be applied to new products, mature products, or even products still in development.

Marketing Development on the other hand, is defined as a growth strategy that identifies and develops new market segments for current products. A market development strategy targets non-buying customers in currently targeted segments. It also targets new customers in new segments.
We can say that, marketing development is aimed at improving on existing products and gaining new entry into the market.
In rebranding,the product features will change but Development may not change the product features and still add some new values to the existing one.

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