Five questions to ask before deciding whether to invest in a rebranding campaign or pull the plug.

[This is the first in a five-part series from Jump Associates.—Ed.]

Large companies looking to jump-start growth tend to be more successful when reinventing an existing brand than creating one from whole cloth. However, not all brands have the same potential for growth through revitalization. All too often, at the sight of declining sales, the knee-jerk reaction is to try to reinvent a brand without asking if it’s worth the investment in the first place.

Asking these five questions will help companies determine which businesses are worth investing in—and which ones to leave behind.