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Brand Name Changing 101
 

Brand Name Changing 101

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Contact Liz@kulinmarketing.com to purchase a print version.

Contact Liz@kulinmarketing.com to purchase a print version.

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    Brand Name Changing 101 Brand Name Changing 101 Presentation Transcript

    • Re-branding Brand Name Changing By: Elizabeth Kulin www.kulinmarketing.com
    • GENERAL REASONS  Merge, Acquisition, or Sale  Desire to reposition or create a new image  (Example: Townsend Thoresen Ferries to P&O Ferries)  Corporate strategy changes (move into a new industry/market)  International marketing: to harmonize brand name across boundaries  Legal problemsNote: the process can take a number of years so that customers get used to the transition &You must consider the change from the customers view point. Reference: Jim Blythe
    • RATIONAL REASONNot much equity in name – i.e. Low brand awareness + Low brand image**(Brand image problem from brand name)
    • GENERAL BELIEFS The brand name convey the brand’s personality
    • EXAMPLES Revenue Science to Audience science – “a better job describing the companys value proposition. New identity reflects shift from single publisher sales to aggregation.” “gotten from our current clients has been very positive, and several have offered that it makes them feel positive and excited about the future.” (clickz) Media Management Technologies, Inc., - separated of its network optimization service, ReviNet, from its AdPerfect line of advertising solutions. Separating these lines of business will result in two autonomous and focused divisions.Go Internet Media – AcademixDirect” (BusinessWire) Perfect Future Ltd. to EDUVERSE Accelerated Learning Systems, Inc. – Did so to reflect the companys core competencies in education and the Internet.
    • RATIONAL for ZEDO PROS: RISKS:2.IF not have much brand 2.May lead to current customersequity in name, so will not risk wondering about motives ofloss. change.3.Timing with repositioning 3.Negative press may occur
    • CONSIDERATIONS TO DO1. Decide on a new name  If descriptive can be easy to recall  Easier transition if similar to brand identity & positioning  Enable customers to justify the reason for the change as a positive action (EX: Rename to be more descriptive about companies offerings, or rename to align with new positioning, etc.)2. Promote to industry and customers  PR announcement to industry, explanation on website, post on social media outlets, email current customers.
    • NAMING STEPSReference: Kevin Lane Keller
    • POTENTIAL NEW NAMES ?DO MARKET RESEARCH (IF FUNDS ARE AVAILABLE)
    • ContactKulin Marketing to learn more