Rebranding 101: What You Can Learn From Sharp
After Taiwanese electronics assembler Foxconn Technology Group bought Sharp Corp. for (an albeit reduced) $3.5 billion earlier in 2016, they knew a rebrand was quick to follow.
According to a recent statement, their competitive restructuring has strengthened their efficiency and boosted their competitiveness while improving their financial structure. While still in the red, they have turned a nearly $280 million operating loss seen in July 2015, to just $24.47 million.
So it's no secret that their aggressive rebranding worked, and they have Peter Weedfald, senior vice president of sales and marketing for Sharp Electronics Marketing Company of America, to thank.
In a recent phone interview with Small Business Trends, Weedfald explained that small or large; every business can learn from these 10 tips when rebranding a business.
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1) Finding what makes your products different and unique against the competition.
2) Examining your distribution strategy.
3) Pricing and upselling potentials then leveraging it to increase sales, a step Weedfald says is rarely re-visited after initial interactions.