The Franchisor CEO Survey conducted by DC Strategy provided some significant insight into how leading franchisors perceive the value of brand refreshment. Of those surveyed, approximately two thirds had undertaken a brand refreshment in the preceding four years. More than half anticipated doing so in the next three years. This suggests that on average, franchisors conduct a brand refresh at least every seven years. The question is, why?
Subway in the UK undertook a rebranding exercise with one of its products, the Daily Special. The product had been available in the marketplace for some time, but only 22 percent of the population were aware of Subway and only 13 percent had visited an outlet. The business undertook a significant rebranding exercise centred around the Daily Special. The product was rebranded to the Sub of the Day throughout a series of innovative campaigns. While Subway’s budget was consistently outspent by its major quick service restaurant rivals (KFC, Burger King and McDonald’s), the chain managed to produce some incredible results… read on.