There have been several companies that have replaced their names subsequent to coming under attack and falling into insolvency. Some of the corporations that have done that include ValuJet or currently known as AirTran, Altria or as you may have once known it, Philip Morris, and Xe, that was once known as Blackwater. Even electronics manufacturer LG has altered 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 companies have done well with the name change; it is as if they are detaching what they once were and becoming a another company with a shiny, pure image.
Marketing professionals nationally are in agreement that the rebranding of GM might be a respectable thing. If the target is to attempt and put this company on a immense regimen and just turn it into a less significant car manufacturing operation, Im not sure thered be that much damage in rebranding, said Jean-Pierre Dube, a University of Chicago marketing professor. The brand isnt in good form, he said, so they have little to misplace.
The General Motors brand name has already become a tarnished brand, with a reputation of constructing poor quality cars and now with a enormous bankruptcy filing under its belt, not to bring up what everyone thinks about the company taking all that federal cash to keep from having to file for the vast bailoutwhich they filed in any case.
Certainly, at the moment many GM officials are sticking to what they know and not wanting to rebrand the business. CEO Fritz Henderson stated that rebranding wasnt awfully high on his list of things to do in the business. Which is probably a good thing to do considering all the troubles he inherited, but couldnt rebranding be handed off to the marketing section? After all, GM still has one of those and it really doesnt have the money to be throwing into high-cost tv spots at present.
Bits and pieces of GM have already begun to be rebranded; GMAC financial services has replaced its name to Ally Bank and General Motors Asset Managemnet is at the present known as Promark Global Advisors.
However, with a corporation that is as well known as GM might it work?
I dont see something wrong with attempting to perhaps market the company in a different way than previously, but an entire new brand could be difficult to pull off for the company. I believe that the best implementation of rebranding could come from if it were to rebrand a number of its subsidiaries such as Chevy or Cadillac.
