There have been quite a lot of corporations that have replaced their names subsequent to coming under attack and falling into bankruptcy. Some of the companies that have done that include ValuJet or now known as AirTran, Altria or as you may have once known it, Philip Morris, and Xe, which was once known as Blackwater. Even electronics maker LG has changed its name from Lucky Goldstar to just LG and claimed that it stood for Lifes Good and now its performing superbly with its sales of consumer electronics and appliances.
These corporations have done well with the name modification; it is as if they are cracking what they once were and becoming a another company with a gleaming, righteous representation.
Marketing professionals across the country agree that the rebranding of GM could be a good thing. If the goal is to try and put this company on a huge diet and just turn it into a smaller car manufacturing company, Im not positive thered be that much damage in rebranding, said Jean-Pierre Dube, a University of Chicago marketing lecturer. The name isnt in good form, he stated, so they have not much to misplace.
The General Motors brand name has already grown to be a flawed brand, with a reputation of constructing shabby quality cars and now with a massive insolvency filing under its belt, not to bring up what everyone thinks about the corporation taking all that national cash to keep from having to file for the huge bailoutwhich they filed nonetheless.
Of course, at the moment many GM officials are sticking to what they know and not wanting to rebrand the company. CEO Fritz Henderson said that rebranding wasnt awfully high on his list of things to do in the business. Which is probably a good thing to do taking into account all the troubles he inherited, but couldnt rebranding be handed off to the marketing division? In spite of everything, GM even now has one of those and it actually doesnt have the money to be throwing into high-cost television spots presently.
Bits and pieces of GM have already begun to be rebranded; GMAC financial services has changed its name to Ally Bank and General Motors Asset Managemnet is now known as Promark Global Advisors.
But, with a business that is as well identified as GM could it work?
I dont think something wrong with trying to perhaps promote the company in a different way than before, but an entire new brand could be difficult to pull off for the company. I think that the best execution of rebranding could come from if it were to rebrand some of its subsidiaries such as Chevy or Cadillac.
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