| |
| |
|
Go Back | About | Contact | Web Design News | |
|
|
|
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:
SEO - Google News |
|
|
|
RELATED ARTICLES
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. Corporate Identity - A Rough Guide A rough guide to corporate identityThe tabloids report the millions spent by large corporate companies on their logos as a scandal.. Brand Strategy - Brand Value - Brand Identity Guru Developing brand strategy is extremely critical. The most important asset your company has is its brand. The Importance of Branding - Can It Really Make a Difference? As consumers, we don't really think about the importance of branding. We just seem to go with the flow of brand names that have become synonymous with our daily living. How to Work with Your Graphic Designer As a graphic designer, I can tell you something right here, right now, right off the bat without blinking?.the graphic design process is a pain in the butt. How Do You Define a Good Logo Design? Everyone wants his company logo to be the best but how good is good? How do we define a good logo? Is it necessary to be colorful or an exquisite piece of art? Can a simple design work as a good logo? We are often in a dilemma.Now to define a good logo design we first need to understand the purpose of having a logo. The Positioning of Success Many businesses of today are often driven to compete striclty on price, quality, and features of their products and services. Companies who prosper over the long term don't simply offer the best deals, the best quality, or the most impressive bells and whistles. Brand Warfare is More of a War than You Think We will discuss Brand Marketing for a minute. In this discussion we would like to talk about brand line extension and how to do it correctly. Why Having A Niche Automatically Boosts Your Credibility - Become The Expert by Getting Focused Yes, yes, we've heard it all before.. Fast Forwarding Your Business If you think only big corporate names need to think about things like brand names, think again. Your brand says a lot about you and your business, and that's as true for a one person home-based operation as it is for a multinational conglomerate. Could Ray Kroc have founded McDonalds in the Era of Sarbaines Oxley? Over regulation of our free markets is stifling our growth in America and killing the next superstar Entrepreneurs. Let's discuss just how bad it really is. Image is EVERYTHING The absolute foundation of your small business is your image. The way potential clients and/or customers perceive your business sets the stage for the way your product or service is recognized and ultimately judged. Clouds Gather Before A Storm: Utilizing The Power Of Brand How brand management can help utility organisations to create a 'difference'.Ever thought why are many consumers willing to pay more for a trusted name brand instead of a store brand, which often is the very same product with a different label and higher price tag? Reputation. Managing the Corporate Brand - a Reputation Perspective Adored, respected and coveted by customers and organisations alike, corporate brands represent one of the most fascinating phenomena of the business environment in the 21st century. Their importance is unquestionable. Branding: Bring Back the Jingle! Did you grow up in the '70s and '80s? If so, you probably have a slew of campy jingles from various TV commercials filed away in your brain. Today, advertisers still use jingles to help identify their brand, but not nearly as much as they did "back in the day. 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. You Bored Me at Hello - Top Three Strategies for Networking Your Brand "You had me at hello," those famous words from the movie Jerry McGuire let Tom Cruise know that Rene Zellweger's character was hooked from that point and the rest of his talking was unnecessary. When in networking situations, many small business owners leave people with a slightly different feeling. The Big-Pay Off -- Brand Value Many CEOs and marketing directors find their time wasted evaluating marketing opportunities instead of acting on them. When every possibility is followed, a meandering trail of hit and miss effectiveness is the result. Acquire, Then Rebrand Acquiring another corporation usually means that the acquiring company's name will be the name of the newly merged entity. There is one factor that can change that -- one that is stronger than anything else. Which Of These Words Attract Your Clients Whether it's your business card, tagline, article title, web site title and description or ad, just the difference of a few words can either pull in prospects and clients or push them away. Getting it right can determine whether your phone is ringing off the hook or you are twiddling your thumbs hoping someone will call.
|
ChicagoAnimation's Acquisitions: Market Polls - 1pennyStock.com
Sponsors: Paving | VTL's | Religious Statues
