4.
When you outgrow your original mission.
The desire for a new name often comes up in conversation when discussing the rebranding process. Many companies start with a mission and grow successfully on that vision, however to be a successful brand you need to grow and adapt to changing times. There are many famous brands throughout history that have successfully changed their names to reinstate their current and future mission.
Think of WPP who recently merged together five of its design consultancies under the name of Superunion. The idea of ditching the individual brands was a bid to create one brand which would enable more opportunities for both clients and employees. In this instance, the new name was a great way to signal the change and power of the rebrand, adding vibrant colours and imagery to push the feeling of optimism and pairing.
What is important to consider is there is no such thing as a stable market. It is inevitable that as a brand you will need to adapt or die. However, in most instances there is no need to change your whole brand but transform and build onto a successful element.