These two words get used interchangeably and they describe different projects with different risks.
A refresh keeps the equity
Same name, same promise, modernised execution: type, color, layout, photography. Right when customers still recognize you and the problem is that the material looks dated.
A rebrand changes the promise
New positioning, often a new name or mark, and every application rebuilt. Right when the business has changed, when you are moving up market, or when the current brand actively works against what you now sell.
The question that settles it
Would a customer who bought from you two years ago be confused by the change? If yes, you are rebranding, and the project needs the strategy work that goes with it.
The branding agency page covers both, and brand strategy covers the thinking a rebrand needs first.
