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Other Added - Acquire, Then Rebrand
It seems you can't turn on the TV without seeing some sort of World Series of Poker contest. Poker, especially, Texas Hold 'Em, has become extremely popular. It's not for crusty old men anymore. Poker has a new brand - it is now young, hip and cool. When branding your business, take a lesson from poker. See, match, and push are poker terms that can have major imp
There are variations of the two options that Boards may need to consider. Witness BP's acquistion of Amoco: the name says BP, but the pumps say Amoco. Guess whose gasoline is perceived to be the better of the two?
In summation, the consumer ul
The young man who is running Hezbolla in Lebanon has told CNN news that he does not want his organization to be called an international terrorist group anymore. Of course I say how does it feel to Want? What are we supposed to call them? I got to thinking about this and doing a little brainstorming and I came up with a few ideas and if you are an International Terroris
There is nothing that stirs fear in corporate boards of directors more than negative consumer feedback. The way a company is perceived -- through marketing of its product line to community involvement -- will determine whether the company ultimately succeeds or fails. Thus, it is the buying public -- consumers -- who truly determine the direction a company moves. Lost sales = a sinking business.
In acquiring another company, usually the larger company does one of two things:
1. It takes the smaller company and absorbs the company within the body of the parent organization. The acquired company retains its name and, for all practical purposes, appears to be a separate company. Consumer confidence in the brand remains static in this case. What is an example of this? Check out the companies/products owned by Beatrice Foods.
2. The acquired company is absorbed in totality; the name, assets, product line are all folded into the acquiring company. Little or nothing of the old company's name remains. An example of this is Cingular Wireless' takeover of AT&T Wireless.
In the second example, consumer confidence can be shaken especially if the Board of Directors missteps and fails to anticipate the public's reaction to the acquisition. A time honored brand, loved by consumers, disappears and consumers react negatively.
What are some good alternatives for Boards to consider? Basically there are two options:
1. Rebrand the name to reflect the joining together of two perceived equals. A case in point is the oil industry where you have ExxonMobil and ChevronTexaco to name two. Obviously, the first name is the premier name, but consumers still see the "loved" second name and are reassured.
2. Rebrand the name to reflect the more popular name even if the acquired company is smaller in size. KMart and Sears got "hitched" and the company was renamed Sears Holding. KMart was the acquiring company but the Sears name has less baggage than the bankrupt KMart name. The combined entity has gone one step further by maintaining separate stores with separate names, at least for now. Consumers who like the venerable Sears name can still be confident that it is "business as usual" for the retailer.
There are variations of the two options that Boards may need to consider. Witness BP's acquistion of Amoco: the name says BP, but the pumps say Amoco. Guess whose gasoline is perceived to be the better of the two?
In summation, the consumer ult
Several years ago I came across one of the most useful and practical articles on market research I have ever read -- “How To Turn Customer Input into Innovation” by Anthony Ulwick.Published in the January 2002 Harvard Business Review, the article briefly outlined a methodology and set of tools for gathering customer input in a way that actually drives product in
In acquiring another company, usually the larger company does one of two things:
1. It takes the smaller company and absorbs the company within the body of the parent organization. The acquired company retains its name and, for all practical purposes, appears to be a separate company. Consumer confidence in the brand remains static in this case. What is an example of this? Check out the companies/products owned by Beatrice Foods.
2. The acquired company is absorbed in totality; the name, assets, product line are all folded into the acquiring company. Little or nothing of the old company's name remains. An example of this is Cingular Wireless' takeover of AT&T Wireless.
In the second example, consumer confidence can be shaken especially if the Board of Directors missteps and fails to anticipate the public's reaction to the acquisition. A time honored brand, loved by consumers, disappears and consumers react negatively.
What are some good alternatives for Boards to consider? Basically there are two options:
1. Rebrand the name to reflect the joining together of two perceived equals. A case in point is the oil industry where you have ExxonMobil and ChevronTexaco to name two. Obviously, the first name is the premier name, but consumers still see the "loved" second name and are reassured.
2. Rebrand the name to reflect the more popular name even if the acquired company is smaller in size. KMart and Sears got "hitched" and the company was renamed Sears Holding. KMart was the acquiring company but the Sears name has less baggage than the bankrupt KMart name. The combined entity has gone one step further by maintaining separate stores with separate names, at least for now. Consumers who like the venerable Sears name can still be confident that it is "business as usual" for the retailer.
There are variations of the two options that Boards may need to consider. Witness BP's acquistion of Amoco: the name says BP, but the pumps say Amoco. Guess whose gasoline is perceived to be the better of the two?
In summation, the consumer ul
Today’s competitive marketplace for consulting services is no longer responsive to the marketing strategies that worked in the past. The services you provide should speak volumes about your consulting business. Think about what happens when you hear phrases such as “the ultimate driving machine,” “don’t leave home without it,” and “just do it.” Chances are good that yo
In the second example, consumer confidence can be shaken especially if the Board of Directors missteps and fails to anticipate the public's reaction to the acquisition. A time honored brand, loved by consumers, disappears and consumers react negatively.
What are some good alternatives for Boards to consider? Basically there are two options:
1. Rebrand the name to reflect the joining together of two perceived equals. A case in point is the oil industry where you have ExxonMobil and ChevronTexaco to name two. Obviously, the first name is the premier name, but consumers still see the "loved" second name and are reassured.
2. Rebrand the name to reflect the more popular name even if the acquired company is smaller in size. KMart and Sears got "hitched" and the company was renamed Sears Holding. KMart was the acquiring company but the Sears name has less baggage than the bankrupt KMart name. The combined entity has gone one step further by maintaining separate stores with separate names, at least for now. Consumers who like the venerable Sears name can still be confident that it is "business as usual" for the retailer.
There are variations of the two options that Boards may need to consider. Witness BP's acquistion of Amoco: the name says BP, but the pumps say Amoco. Guess whose gasoline is perceived to be the better of the two?
In summation, the consumer ul
With the technological and conceptual breakthrough that internet has offered, internet advertising has become a full time employment option not only for companies, but for persons like you and me alike. Because most companies choose to go online with their businesses, the immense market that online advertising offers is like a new gold rush.There are two primary
1. Rebrand the name to reflect the joining together of two perceived equals. A case in point is the oil industry where you have ExxonMobil and ChevronTexaco to name two. Obviously, the first name is the premier name, but consumers still see the "loved" second name and are reassured.
2. Rebrand the name to reflect the more popular name even if the acquired company is smaller in size. KMart and Sears got "hitched" and the company was renamed Sears Holding. KMart was the acquiring company but the Sears name has less baggage than the bankrupt KMart name. The combined entity has gone one step further by maintaining separate stores with separate names, at least for now. Consumers who like the venerable Sears name can still be confident that it is "business as usual" for the retailer.
There are variations of the two options that Boards may need to consider. Witness BP's acquistion of Amoco: the name says BP, but the pumps say Amoco. Guess whose gasoline is perceived to be the better of the two?
In summation, the consumer ul
Interviewing principles and practices do not vary often. First off, the term principle means a basic truth or belief. Therefore, an interviewing principle is a system of how interviews are normally conducted. As far as a practice is concerned, an interviewing practice is the usual, customary way it is performed. It also means an action done many times over to acquire s
There are variations of the two options that Boards may need to consider. Witness BP's acquistion of Amoco: the name says BP, but the pumps say Amoco. Guess whose gasoline is perceived to be the better of the two?
In summation, the consumer ultimately decides whether your rebranded product will succeed or fail. Not bringing consumer sentiment into the mix early on in the acquisition process is potentially dangerous and can be expensive to remedy later on.
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