Rebranding involves creating a new brand identity for a company’s existing brand, product or service. It is often made to reposition the brand in the market with the goal of upgrading the brand’s image and moving it up the market. Another reason for rebranding is getting rid of an undesirable image associated with the initial branding in the minds of customers and prospective customers. Rebranding usually covers making minor or major changes to the brand’s name, logo, slogan, corporate colors, fonts, design look or one or more of these elements.