1. How did Accenture transfer the brand equity from its original name, Andersen Consulting, to the new company name?
To find a name that represents their company in a new face, the company put it as its top priority. Through marketing campaign, internet search, consulting outside firms, and employees’ participation worldwide, the company finally found its name, which is Accenture. During the process, the company was worry of how to transfer the brand equity from its original name, Andersen Consulting to the new name that customers still accept their products and services. Brand equity is defined by the book is the positive differential effect that knowing the brand name has on customer response to the product or service (Kotler &
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The company is looking toward the future with its new values and services. Second, the name Accenture is very easy to pronounce, recognize, and remember (Kotler & Armstrong 2008, page 232). Third, the name is distinctive (Kotler & Armstrong 2008, page 232). Accenture is a unique name that tells about the company’s future commitment to their customers. Forth, the name is extendable (Kotler & Armstrong 2008, page 232). Fifth, the name easily translates into foreign languages (Kotler & Armstrong 2008, page 232). And sixth, it is capable of registration and legal protection because it is not existed and does not match with any existing brand names (Kotler & Armstrong 2008, page 232).
3. How did Accenture use the requirement to rename the company as an opportunity to reposition itself?
With the competitive market, the company wanted to build a new position in the market. The company wanted to extend its areas of expertise beyond the boundary from the formal parent consulting firm. They wanted to make a new mark by bringing innovations to improve the way the world works and lives. They wanted to change the way the business community and customers perceived about them. The company wanted to continue to build a network of businesses to meet all of its customers’ needs. They also wanted to have a new look toward their services and their operation. Thus, to have a chance to change their company’s name is an opportunity in a lifetime that they have
By upgrading their brand, it will help to identify the qualities of the products that set it apart from the competition. They have to make the
The corporate identity is not merely the “the most important reason or purpose for someone or somethings existence.” (Webster, 1828) Paul Verbinnen coined the phrase as “intrinsic identity.” (Doorley & Garcia, 2015) The intrinsic identity of a company is what the company stands for and what they wish to portray to the public about themselves. If the company has a good idea of what the corporation’s intrinsic identity is, they can build on their performance, behaviour and communication and therefore increase their reputation.
Unclear brand image: made many changes that have strayed from their main brand image and focus.
Brand equity is a business having the clout and power of its product(s) to leverage that equity or clout for its need to raise capital or increase customers. Developing brand equity is important because it allows companies to interact with their customers in order to induce loyalty which increases the growth of a company. Every company, established ones as well as start-ups have the ability to create brand equity. It is especially important for start-ups because in the first step of business, they would want to ensure that
Several key points are presented in the article for how companies can be successful. The first, is that companies must be innovative and be willing “to change their core products or business models” (Bertolini et al., 2015, p. 90) to keep up with the change in the marketplace. This may require that they rebrand their product, or change their business
On Monday morning, December 5, 1998, Peter James, CEO and Managing Director of Computer Power Group (CPG), a leader in the Australian IT education and services industry, was reflecting on the results of the recent Brand Visioning offsite – code named Project Horizon. He was satisfied with the future plan they had created for the brand, including an articulation of the brand purpose and values, a clear statement of branding objectives, and a brand architecture that effectively unified brands in the portfolio (see Exhibits 1 & 2). James was relieved that the team decided that they should change the corporate name to Interim Technology, the name of the
These changes not only created a new dynamic corporation, but it also reaffirmed the mission and vision statements and strategic goals that have sustained the company for the last fifty plus years.
The company needed a new product that was different, modern and offered a better cost/benefit relationship than other products on the market.
One thing that can make or break a company is its brand equity. Brand equity is the value that comes with the familiarity with a company’s branding and the feelings consumers have towards that brand (Brand Equity, n.d.). A company with strong brand equity usually gives consumers a sense of reliability and value; causing a higher inclination to purchase its products. It usually takes
When LS&Co had to choose brand elements for the new line to get strongly back in the market, it paid a lot of attention to the logo and the name because the aim to gain again the „baby boomers“ interess was not so easy.
The products that had given the company success, were forgotten. For that reason, the new strategy was based to revive those ‘core products’ and bring with them back the values that their founders set at the beginning (Breen 2013). (See Appendix 2)
Its primary objective was, simply put, to become the “most recognized and respected brand in the world.” This objective required most of the
In February 2003, Accenture formally established a Global Inclusion & Diversity corporate function to provide strategic guidance and support for Accenture’s diversity programs and activities in countries around the world, and to promote a discrimination-free and harassment-free work environment for all employees.
Accenture is a global management consulting, technology services and outsourcing company with over 129,000 employees in 48 countries with over $15.5 billion in net revenues in 2005. Accenture was formerly know as Arthur Anderson and started conducting business under the name Accenture on January 1, 2001. Accenture is a Bermuda holding company with subsidiary, Accenture SCA, a Luxemburg partnership limited by shares. The Comp SCA. Accenture operates its business through subsidiaries of Accenture SCA (www.bigcharts.com).
This report will explain how Intel has developed a mechanism to align its branding and marketing strategy with those of clients in the home and office market computing sector. Intel’s use of an integrated co-branding