When your house is structurally weak, you'd immediately make structural changes so that it doesn't collapse. Anything else (painting, buying new furniture, changing the name of the house), is optional.
For companies, is rebranding an exercise in making yourself believe that you have turned around the company, when in fact, all you have done is, just apply a fresh coat of paint (instead of making structural changes)?
I just can't get around the idea of companies spending tons of money on a rebranding exercise to turn themselves around.
Case in point: Snapdeal. They did a major branding exercise now. As a consumer, I am not going to buy from them just because they have a new logo or a redesigned website. It's not just Snapdeal. Airtel did a major logo rebranding sometime ago. Banks like Canara Bank and Axis Bank (formerly UTI), did rebrands which cost them serious money.
The question is, does it really work?
Most of the articles I saw online about rebranding are from agencies or brand marketers who have vested interest in companies doing rebranding exercise.