A buying option that you are regularly confronted with is “Repair or replace?” Generally speaking, the easier and sexier choice is to replace, while often the best option is to repair.
When faced with a malfunctioning part, aging structural elements or an underperforming brand, the first question to ask is “Does the value that already exists warrant repairing instead of replacing?” If the answer is “yes” then by all means repair!
When it comes to brands, there is absolutely value in familiarity and the rich patina of longevity. Preference, trust, and efficiency naturally flow from previous brand interactions. In light of this, completely rebranding (think drastic visual re-designs, jarring new communication and/or re-naming) will likely eliminate value that has been built into the brand over time. An exception to this line of thinking would be a dying brand or one that is irreparably damaged.
If your brand is stagnant, damaged or even broken, we recommend that you first consider repairing before you rush to replace. Remember, while replacement is permanent, repairing allows you to retain and refine existing value.