Rebranding is the creation of a new look and feel for an established product or company. The usual goal of rebranding is to influence a customer's perception about a product or service or the company overall by revitalizing the brand and making it seem more modern and relevant to the customer's needs.
There are many other reasons a business might want to present a different brand image. Possibilities include repositioning the company and vision to reflect a change of focus, setting the company apart from its competitors, updating the corporate image to appeal to a younger market, expanding the business scope, and reflecting a significant merger or acquisition. Companies sometimes want to present a new image for reputation management, to distance themselves from problems of the past. Another purpose of rebranding is to exploit the popularity of some current trend, such as green computing (see: greenwashing).
Rebranding efforts may include a name change, a new logo or packaging and updated marketing materials that include the latest industry buzzwords.