| |
| |
|
Branding Information |
|
|
|
Effective Branding...Whats in a Name!
Ask any marketing executive and they will tell you that a company's name is golden. There are certain associations that people have with a name, one that invokes emotions -- good or bad. Let's examine three case studies of branding involving companies that have merged and where the buyer kept the name of the company they bought or are considering purchasing. In the late 1990s with bank mergers in full swing, United Jersey Bank was faced with a dilemma. Having started to open branches in neighboring states, the "United Jersey" part of their name was beginning to become a hindrance. Bank executives knew that the name would have to be changed in order to continue to grow, while at the same time continuing to avoid being merged out of existence. The solution? The bank purchased a small, local bank based in Summit, NJ named Summit Bank. Once the merger was completed United Jersey Bank was renamed Summit Bank. Unlike the United Jersey name with its New Jersey correlation, few people associated Summit with the town of Summit. Instead, United Jersey Bank capitalized on a very positive name, summit, and started to market themselves as the peak of all banks. The campaign was a success as the name change was well received by consumers. In 2005, KMart purchased Sears, Roebuck, and Company and the newly joined entity was renamed Sears Holdings. While it is much too early to tell if the decision to keep the Sears name is a success, most people have associated KMart with bankruptcy, run down stores, and as being a poor competitor to WalMart and Target. Sears, on the other hand, has pretty much put their woes behind them after forfeiting the spot as America's top retailer a generation ago to WalMart, and after laying off 100,000 employees, and closing out their famous catalog business. Branding experts will tell you that both names carry plenty of baggage [the stores will keep the KMart and Sears names too] as some see the merger as only a temporary fix. Thus, the Sears name may not be enough to save the combined retailer. In the airline industry, several of the legacy carriers will more than likely find themselves out of business over the next few years. United, for instance, could find themselves a takeover target of a regional carrier. Skywest Airlines, which also flies as United Express [by providing regional jet services to United], may see a "buy" opportunity and offer to purchase the venerable, but bankrupt carrier. To "unite" the two companies, Skywest could consider tossing their regional sounding name and take on the reknowned United moniker. The new carrier would then be able to carry on the legacy of a 75 year old name and achieve instant recognition on the world stage while at the same time distancing itself from the problems that beset the original United. With a wave of mergers and acquisitions anticipated over the next few years, more opportunities to purchase a "golden" name will arise for savvy dealmakers. These dealmakers must call upon the skills of branding experts to take the pulse of consumers' "feel" for a name. Neglect that or pick the wrong name and you are certain to invite disaster. Matt runs two very successfully branded aviation sites: the Corporate Flight Attendant Community at http://www.cabinmanagers.com and the Aviation Employment Board at http://www.aviationemploymentboard.com
MORE RESOURCES:
Branding - Google News |
|
|
|
RELATED ARTICLES
Brand Identity and the CEO This week I spent a few hours with a highly successful CEO discussing his brand identity questions and concerns. "What do the most successful brand initiatives have in common?" he asked. Branding - Brand Identity Guru Brands are important aspects of any business, but unlike money or bricks, mortar and paperclips, a brand is an intangible aspect of business. It lives in people's heads and is defined by all of that person's contacts with a company. Strategic Moves In The Branding Gamble! The so called 'globalisation' has cluttered the world markets with so many products and services that nearly 90% of the marketing managers in competing companies do pretty much the same to sustain in the market. There is not much difference in the way P&G operates as compared to how Unilever gets its products to the market. What is Private Franchising? It is Nothing Someone Made It Up The Federal Trade Commission has an obligation to the general public, their stated consumer education mission and to the over regulated franchising industry and the small business operators running Biz Ops to separate the two business models by way of legal definition. Any failure to completely separate them will trigger additional problems down the road and cause the current on-going process of rule review to continue, without any formalization for decades. How a Great Tagline can Help your Business "Just do it." "We try harder. Branded Email: Email Branding is the Next Generation of Email All You Need is Branded EmailOrAlways Branded Email There to Remind MeFor the past 75 years, almost every form of popular communication has transformed from black and white to color. Newspapers, television, and computers are only a few examples. No Logo? Launching A Business Without a Logo Can Sabotage You Initial lack of customers and cash flow often causes a small business to put off designing a logo and marketing materials professionally "until [they] got a few clients" or "until [they] get started." Designing their own marketing materials when they launch their business, instead of having them professionally created, will make getting those initial clients more difficult, and may result in a business that will not succeed. Corporate Internet Branding - Branding Your Business Online Let me tell you a story about Pete and a pizza. After a long day of fighting uncooperative pipes and fixtures, Pete P. What About Me? What You Need To Know About Me-Marketing What about me? Are you asking yourself this question? If not you should be. Don't wait until you are in crisis mode when you are losing your job or your business before you think "what about me?"Here are a few points to consider. Brand Value Plan - Brand Identity Guru Developing brand value is critical to every organization and when professionally executed, delivers a clear and measurable competitive advantage to your firm. It does so by helping you establish a positive connection and value-relationship with your customer, which, over time, will build brand equity and increase brand value. Brand Building 201: Finding The Ideal Way The strongest and longest lasting brands branch off of anexisting category. Branching takes patience and time. Franchisor Policies for Unlicensed or Sold Territories Franchisors often have issues when they own a brand which has service vehicles; where franchisees wish to operate in non-franchise assigned territories. We had this as a re-occurring issue in our franchise system. Your Identity Speaks Loudly...What Are You Saying? Your corporate identity is a graphic expression of who you are as an organization. It plays a major role in what sells your company and its products. The Art of Successful Branding Branding: it's a term that carries great weight in the world of advertising. Successful branding is best illustrated by the world's most prominent corporations, but it's no less important to the small business owner. The Brand Called You The best brands always try to do the right thing, so that their reputations will remain unsullied. But beyond that they grow, evolve and get better with time, while maintaining their special qualities from the past. Whats In A Name? When It Comes To Your Business, Plenty! Q: How important is the name of a business? Should the name of a business reflect what the business does or is it better to come up with something catchy and easy to remember?-- Randy P.A: What's in a name? When it comes to your business, Randy, a lot more than you might think. Product Positioning for Enterprise Software and Information Technology Companies Good marketing positioning is like good lying. No, we're not suggesting that you lie when creating your company and product positioning. Build Brand Identity - Brand Identity Guru Successful Guru marketers have a secret weapon that they use every single time they communicate about their businesses. It's one of those intangibles that are easily misunderstood. Your Brand is Your Promise! (So What Are You Promising?) When people mention the word "brand" they usually mean a well known, well defined company. That's why consumers frequently mention names such as Target, Rolex, Apple, BMW and others who have done an excellent job in crafting an image and sticking with it. Creating Powerful Names for Products, Services, and Your Business The name of your business is important--it's one of the first things potential customers know about it. And having unique names for each of your products and services can be a powerful selling tool.
|
Home | Site Map | 101InfoLinks Directory | You'll LOVE This! | Sports Fans ONLY
|
| © 2007 |
.
