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 polished, pure 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 make has already grown to be a stained brand, with a reputation of constructing shabby quality cars and now with a gigantic 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 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.
Little bits and pieces of GM have already begun to be rebranded; GMAC monetary services has replaced its name to Ally Bank and General Motors Asset Managemnet is currently known as Promark Global Advisors.
But, with a company that is as well known as GM could it work?
I dont see anything wrong with attempting to perhaps market the company differently 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 a number of its subsidiaries such as Chevy or Cadillac.