There are a couple of ways to go about this depending on exactly what output you are wanting.
If you want a single-band tif that preserves the original GRID values, you just need to apply the symbology of your GRID to an unmodified, exported tif.
Right-click the GRID in the TOC and choose
Data > Export Data. At
the bottom left of this dialog is a help link you may want to read,
particularly points 4 and 7. Set format to tif and choose
compression if any, but change nothing else. (Note the pixel depth - the values in your GRID determine this, and it is set automatically to maintain those values. The
Copy Raster tool
allows you to change this value.) Hit Save and add it to the map.
Prepare symbology for import: Right-click the GRID again and save a lyr file, or do not save a lyr but make sure your symbolized GRID is added to the map.
Apply the symbology: Open the symbology tab for the tif, change the type to classified (else you will get an error), and click the import folder icon upper right. Either browse to the saved layer file or select the GRID layer already in the map from step 2 and click apply.
You can now save a new lyr file from the symbolized tif that will
have the correct source. As mentioned in my comment, there is a long
standing issue about not being able to edit lyr files, particularly
as relates to pathing - it seems to ignore relative pathing when
set. The simplest solution with a few layers is to just apply the
symbology to your new source and save a new lyr file. With a number of
layers, I believe some python scripting has been developed to fix
them, but that's another question.
If you want a single-band tif that reclasses your data to fit a value range that is the number of your classes, you can use the color map method Michael describes. Alternatively, you have another option to generate the color map file from his method as long as you have fewer than 25 unique values in your data. On the symbology tab of your reclassed raster, change to Unique Values and apply your color ramp, then use the Colormap drop-down button to export it. Note that (by my testing anyway) using a color map will not allow you to preserve your legend labels - that can only be done with a lyr file.
If you want a multi-band RGB tif that reclasses your data to fit that value range (0-255 per each band), you can do it directly in the
Export Data dialog by checking the 'Use Renderer' and 'Force RGB' boxes. There are a couple of considerations with this method (aside from the reclassing of the data).
- As mentioned in the help file points referenced in 1 above, the
process applies a stretch. If added automatically to the map, you
need to go into the symbology to change the stretch method to none,
otherwise you are doubling the stretch effect.
- Also mentioned in that help file, you may need to specify a 'no data' value, otherwise it will pick one for you with potentially undesirable results.
- Depending on the color ramp used in the original symbology, you may
get slight color shifts when going to RGB. Some ramps and methods of
color selection use other models, such as HSV, which there may not be
a direct RGB value translation for.
- If you only look at a single band, yes, a lot may be changed to no
data, as it's only the combination of all three bands that will
represent the original values.