Anita’s blog inspired me to write another blog about brand repositioning. Here is the link to her blog for your convenience. http://blogs.ubc.ca/anitafacundo/2013/10/15/30/
Rebranding refers to a strategy in which marketers change a brand’s focus to target new markets or realign the brand’s core emphasis with changing market preferences. Often companies and brands need to reposition or rebrand themselves in order to stay up to date with society and often due to losses in market share.
In 2011, Starbucks abandoned the external ring of it brand name, which turned out to be simpler. This action implied that Starbucks would extend to more other fields. Howard Schultz, chief executive of Starbucks, said in a webcast: “We’ve allowed [the Siren] to come out of the circle in a way that gives us the freedom and flexibility to think beyond coffee.” The high recognition degree of its logo will unconsciously impose Starbucks’ brand image to its new products. Due to consumers’ trust and loyalty, it will lead to success in popularize its new products.
With the evolution of the brand logo, consumers can taste the changes in Starbucks’ business strategy which is to further implement its brand extension, such as snacks, coffee mugs, candies… Meanwhile, it stays loyal to the image of Siren – a storyteller, who carries the lore of Starbucks ahead, and remembers their past; a muse, that is always there, inspires them and pushes them ahead. (Steve.M)
Since the myth of siren is well known to consumers, the picture of siren is chosen. Siren is part of the culture which indicates that Starbucks is a brand with deep meaning. Thus, customers will define the brand as of high quality and classy, and keep buying its coffee and more.