If you're considering rebranding a product or your organization, spend a few minutes reading this MarketingProfs article on Why Rebranding Often Fails.
Galen de Young talks about why rebranding sometimes fails to accomplish what it's intended to do - or even makes things worse. Many of the issues come down to the branding truth test - are you just changing the window dressing, or is there something new going on?
Rebranding to get your market position in line with the great features of your new product release, or the new demographics of people who are buying, is a smart idea that will increase your brand strength. But if you're rebranding just to shake a bad image or declining market share, without doing something to address the root causes or those issues, rebranding is likely to be an expensive and pointless endeavor.
Before you start the rebranding project, try doing an audit to find out how well in tune with reality your current brand is. If you find that it's accurate, but undesirable, then scrap the rebranding - you've got more important work to do.