4 ms·
To run from a bad reputation To expand in to a market that already has a well known company by that name Hard to rank for it for search purposes Brand is abo
by austhrow743 7y ago
To run from a bad reputation
To expand in to a market that already has a well known company by that name
Hard to rank for it for search purposes
Brand is about a specific niche that you want to expand out of
- ghaff 7y agoThere are various types of rebranding that may or may not involve renaming. However, with respect to renaming specifically, it often also comes about because your company name now bears no relationship to what you actually do. To take a random example from a past life, NL Industries used to be the Nation Lead Company but, while they still have some involvement in pigments, they don't actually do anything related to lead any more AFAIK. (This is a major reason companies switch from a descriptive name to just some letters.)
- throwaway_pdp09 7y agoAfter the renaming you mentioned of NL, was there any lasting measurable business effect such as change in turnover, profit, new customers, anything at all?
- ghaff 7y agoI have no idea. They did it decades ago. I will say that it's easy to say that none of this stuff matters at all. And it's very hard to quantify among a zillion other variables. Is it crucial in the grand scheme of things? Probably not. But things like brand awareness and brand perception can matter--at least at the margins.