What Matthew McConaughey Can Teach Us About Rebranding

Mar 4 2014, 5:24pm CST | by

Matthew McConaughey spent most of the 1990s and the 2000s appearing in forgettable, formulaic movies that didn’t require much acting. He was frequently cast in vacuous romantic comedies like The Wedding Planner and Failure To Launch, which were panned by the critics. McConaughey, in fact, was known more for being named People magazine’s “Sexiest Man Alive” in 2005 than for his acting ability.

After taking a hiatus from film-making, McConaughey made an important decision about his career three years ago. He decided to break away from romantic comedies in favor of small, independent films and more challenging, dramatic roles.

In other words, he decided to rebrand. That led to roles in a string of movies for which he received considerable critical acclaim. Movies like Magic Mike, Bernie, Killer Joe, and Mud. And, of course, last year he gave the performance of a lifetime in the movie Dallas Buyers Club. The film received wide critical acclaim and has earned McConaughey a well deserved Oscar this week.

McConaughey’s transformation can be explained by one factor: age. At 44 he realized that he couldn’t play the lead in romantic comedies for that much longer and he needed to rebrand himself as a serious actor.

There are many reasons for companies and services to rebrand: when there is a change in the customer base; when the brand proposition is no longer relevant; or when a competitor disrupts the market. Indeed, rebranding can take place in different shapes and forms.

Target has rebranded in order to differentiate itself. It was seen as just another discount retailer, indistinguishable from Wal-Mart and K-Mart. By offering knock off versions of designer merchandise from Issac Mizrahi, Michael Graves, and Philippe Starck, Target began to stand out from its competitors with higher-end items at low prices.

Target became known as “Tahr-zjay”, with a faux-French accent – a more upscale mass merchandiser that appealed to a ritzier clientele.

Old Spice rebranded itself by changing their customer experience on social media. The 70-year-old brand’s ad campaign generated tens of millions of online views and became a viral sensation. A clever ad and smart use of social media produced a fresh, youthful identity.

In 1997, Apple was veering dangerously close to bankruptcy. Nearly 17 years later, its stock prices have gone from $6 to $530 and the company is stronger than ever. What has changed? Apple rebranded itself from a desktop computing manufacturer to a juggernaut of technological innovation and creativity by introducing remarkable and elegantly designed products such as the iMac, iPhone, iPods, and iPods. It created a well articulated experience of the brand.

Two decades ago, branding was a lot simpler than it is today. There were no social networks or camera phones. In short, there were fewer mechanisms that impacted public perception of a business. Consumers were held captive to whatever a business owner wanted to say about his or her product or service.

In a static marketplace a brand’s position could be perpetuated for many years without change. Not so now. As consumers exert more influence and the marketplace is becoming more dynamic, erratic even, rebranding is not only to be expected, but essential. Relevancy is a brand’s currency, but it constantly needs to be recalibrated, otherwise a popular brand can be rejected by its customers overnight. How a business is branded and perceived by the general public is no longer solely up to the business owner. What people say about you is as important as any high-priced branding campaign or catchy tagline. This dynamic can either help or hurt your brand and brand perception.

Anyway you slice it, rebranding is an extremely important marketing option today, whether to seize an opportunity or thwart potential threats.

Avi Dan is a marketing consultant that specialize in agency search and compensation, and client/agency relationships

 

Source: Forbes Apple

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

The Best Black Friday iPad Deals
The Best Black Friday iPad Deals
The Apple iPad Black Friday 2014 Deals started to sell.
 
 
Amazon Black Friday 2014 Sale has Started
Amazon Black Friday 2014 Sale has Started
The Amazon Black Friday 2014 sale is officially here. Earlier than ever Amazon offers Black Friday 2014 deals.
 
 
iPhone 6 Plus Delivery Time Reduced
iPhone 6 Plus Delivery Time Reduced
The shipping estimation of the 16GB iPhone 6 Plus has been down to 7-10 days
 
 
Best Buy Reveals Pre-Black Friday Offers for Apple Devices
Best Buy Reveals Pre-Black Friday Offers for Apple Devices
The iPad Air is being sold at a discount of $80-$100
 
 
 

Latest from the Network

'Unbreakable Kimmy Schmidt' series moves from NBC to Netfilx
Los Angeles, Nov 23 (IANS) Actress Tina Fey and Robert Carlock starrer comedy series "Unbreakable Kimmy Schmidt" has been taken over by online streaming service Netflix from NBC. According to Deadline magazine,...
Read more on Celebrity Balla
 
US and Turkey discuss possibility of regime change in Syria
Istanbul, Nov 23 (IANS) US Vice President Joe Biden met Turkish President Recep Tayyip Erdogan in Istanbul Saturday and discussed the possibility of a transition of power in Syria. "On Syria, we discussed ... not only...
Read more on Politics Balla
 
US condemns Kenya bus attack, terms it 'horrific'
Washington, Nov 23 (IANS) The US condemned "in the strongest terms", the attack on a bus in Kenya that killed 28 people, terming it as "horrific". The US extends its deepest condolences to the families and loved ones...
Read more on Politics Balla
 
Heidi Montag wants to age gracefully
Los Angeles, Nov 23 (IANS) Singer Heidi Montag, who has undergone ten cosmetic procedures, says she wants to "age gracefully". The 28-year-old singer discussed about her wish with Extra, reports contactmusic.com. The...
Read more on Celebrity Balla
 
Kourtney Kardashian hints at Scott Disick split
Kourtney Kardashian has hinted her relationship with Scott Disick is on the rocks. The reality television star has been dating the 31-year-old hunk since 2006, but posted quotes from the Disney film 'Lilo & Stitch'...
Read more on Celebrity Balla
 
Kelly Brook engaged again?
Kelly Brook has sparked rumours that she is engaged again. The model - who will turn 35 on Sunday (23.11.14) - was seen sporting a huge jewel on her ring finger at the Teens Unite Charity Ball at Underglobe in London...
Read more on Celebrity Balla
 
Heidi praises Spencer for 'best 8 years of my life'
Heidi Montag has praised Spencer Pratt for the ''best 8 years of my life (sic)''. The former 'The Hills' star gushed over her beau in a message online on Friday (21.11.14) to celebrate their sixth wedding anniversary....
Read more on Celebrity Balla
 
Bahrain sees 51.5 percent voter turnout in national elections
Manama, Nov 23 (IANS) Bahrain registered 51.5 percent turnout in the parliamentary and municipal elections Saturday, notwithstanding the opposition's call to boycott the elections. "The turnout today was 51.5 percent...
Read more on Politics Balla
 
Black Friday 2014 Sales and Deals for 11/22
Friday was already a wild Black Friday 2014 sales day with $115 40-inch TVs and other hot doorbuster deals that Walmart matched. Saturday has not these dramatic deals like on Friday. There are still though plenty of...
Read more on Black Friday Countdown
 
I was original: Aniston on Kardashian's nude picture
Los Angeles, Nov 23 (IANS) Shunning the hype around reality TV star Kim Kardashian's derriere picture, actress Jennifer Aniston says she bared her derriere way before Kardashian and it was original. Aniston posed nude...
Read more on Celebrity Balla