Successfully Navigating a Name Change
By Yannis Kavounis
If you think creating a brand new name is a nightmare, think again…
A name is the first public act of branding and serves as a customer hook. It is perhaps, the one
and only branding element that you wish you’d never have to change. “Wish” is the key word
here! Unfortunately, this is far from today’s marketplace reality. Corporate history has taught us
that there are several instances where an existing name can be problematic and a name
change is required. So, how do you effectively navigate a name change? Let’s see…
What do you want to accomplish by changing the existing name?
Understanding the objectives behind a name change is the first crucial step. Research on your
existing name can provide valuable information on key areas such as existing equity,
differentiation, relevance with the key target audiences, and communication issues. The
feedback will help you establish a “navigational map,” highlighting the issues you need to
address - what to do and what not to do. Let’s take a closer look at some of the most common
reasons for a name change:
Has your business strategy and/or strategic focus changed?
In order to succeed in today’s demanding economy, a lot of companies undergo major changes
in the way they do business. Very often their existing names are limiting and do not support the
shift in their business strategy. This may require a more “flexible” name to capture and address
the evolving nature of their business. For example:
After splitting up with sister company Arthur Andersen, Andersen Consulting changed its name
to Accenture, to communicate a “new company that places emphasis on the future.”
The Royal Mail (UK) became Consignia to reflect the shift to a more commercial and
international approach to business.
Boston Chicken changed its name to Boston Market to communicate the company’s shift from
rotisserie chicken to family meals. It also maintained the "wholesomeness and freshness" of the
brand.
Bass changed their name to Six Continents