From the course: The 22 Immutable Laws of Branding (Blinkist Summary)

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Reinventing a brand

Reinventing a brand

From the course: The 22 Immutable Laws of Branding (Blinkist Summary)

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Reinventing a brand

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- [Narrator] Blink number nine: reinventing a brand is only possible in the rarest cases. We've seen how important narrowing your brand's focus and maintaining its consistency is. But what happens when you have to make a change? Let's take a look at the 21st law, the law of change, to see when this risky move might make sense. The best time to make changes is when you don't have anything to lose. When your brand is weak, inconsistent, and making little impression on the minds of potential customers, the only way is up. So, change it up. Another good moment for change is when your profit margins are large enough for you to consider lowering prices. High prices are often used to foster a perception of high standards, but charging less doesn't necessarily damage a reputation for quality. Marlboro managed to do just this. Having made their name as a maker of high-quality, expensive cigarettes, the company maintained…

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