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

---

Wealthiest 10% of Americans Name Top Quality Brands for 8 Products in New Survey

The seventh in a continuing series of twice-yearly surveys by... Read More

Corporate Identity - A Rough Guide

A rough guide to corporate identityThe tabloids report the millions... Read More

Are You Brand Worthy? Are You Brand Worthy?

Branding is a one hot topic, although it is wildly... Read More

Is It Legal? - Indecent Naming With Tradition

When Mitsubishi launched a new car with the name "Pajero"... Read More

Branding Guru - Brand Identity Guru

Branding TodayHave you ever had a good brand experience? How... Read More

Hawaiian Heirloom Jewelry

Back to the era of the Hawaiian monarchy, the origin... Read More

Don?t Get Caught In the Trap: The BIG Difference Between Personal and Business Branding

When you're all alone in the privacy of your home... Read More

Logo-ize For Instant Identification & Increased Awareness

The task of creating an indelible impact on the memory... Read More

You Bored Me at Hello - Top Three Strategies for Networking Your Brand

"You had me at hello," those famous words from the... Read More

The Trust Issue In Marketing

One of the prime motivating factors in the purchase decision... Read More

Branding - More Than Just a Statement - A Memory Scar

Conjure up in your mind broad rolling meadows with runs... Read More

Which Of These Words Attract Your Clients

Whether it's your business card, tagline, article title, web site... Read More

Franchising is Virtually Fraud Free

The number of complaints to the Federal Trade Commission on... Read More

Speech on Branding from a Franchisor Founder

I was asked today by a group of students; What... Read More

Quality and Service - Yeah, Right!

One of the critical drivers of business success is having... Read More

Brand Your Name!

Have you ever thought about branding your name? Does the... Read More

What is an Artists Statement & How Often Should It Be Updated?

An artist's statement is a statement of ideas and thoughts... Read More

What Make Us Unique and Different

Starting a business can take a lot of time, money,... Read More

Strategic Moves In The Branding Gamble!

The so called 'globalisation' has cluttered the world markets with... Read More

The Positioning of Success

Many businesses of today are often driven to compete... Read More

Business Image

One of the most important things in a business is... Read More

Business Branding - How Character Affects Customers and Your Business Image

The public buys far more than just your products, services... Read More

Brand Identity Company ? Brand Identity Guru

Hiring a brand identity company is very important. In every... Read More

The Importance of Branding - Can It Really Make a Difference?

As consumers, we don't really think about the importance of... Read More

Logo Design - Branding - Brand Identity Guru

Do you have any idea how important your company logo... Read More

Branding Your Business To Make More Money

Branding your comapny should be the first thing a company... Read More

Why Should I do Business With You?

It's the question that is on the minds of all... Read More

Differentiate and Dominate

Quite often small business owners will ask me to reveal... Read More

Play Your Position! - The Only Way to Win in Business

Have you ever watched 5-year-olds play soccer? It should be... Read More

A Lesson in Branding from Paris Hilton

I have never been a fan of Paris Hilton.I see... Read More

Choosing the Right Color Palette

Color is a highly personal experience ? everyone has favorite... Read More

Managing the Corporate Brand - a Reputation Perspective

Adored, respected and coveted by customers and organisations alike, corporate... Read More

The MOST Expensive Mistake You Can Make

Most people who own a small business have a huge... Read More