Question

Topic: Taglines/Names

Brand Consolidation (re-branding) Help

Posted by tkavanaugh on 11/2/2009 at 11:26 AM ET 125 Points
We are a Regional Construction Firm, Ranked #3 Nationally in our industry. The Firm performs a specialized trade that has considerable market share in our home market. Our brand is very widely known and respected for our primary service line, but we have recently (successfully) branched out into other related (but different) trades.

For instance imagine the company is Branded XYZ Widget Company (90% of our business), but now we also sell ABC Widgets. Customers state "sure you can sell XYZ Widgets, you do a great job, but we need an ABC Widget Company".

Bottom line, our brand "The XYZ Widget Company", limits our ability to sell other highly profitable lines, simply because of the name. We are thinking about renaming it to simply "The Widget Company". Any SWOT thoughts on this? Thanks for your help!

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RESPONSES

  • Posted by SteveByrneMarketing on 11/2/2009 at 12:14 PM Accepted
    It seems like the "abc company" would be a new brand line, not necessarily a new company. Are you really considering naming the new brand "Widget"? I'm sure you could do better than that. Maybe you should post a question and provide complete information (swot) for naming your new brand.

    hope this helps,

    Steve
  • Posted on 11/2/2009 at 12:24 PM Accepted
    Hi,
    Try this apps for Iphone, https://www.thebrandgenerator.com
    Its a real professional tool to generate (intelligent) brand names.
    For exemple, you put your key concept in the field (Maybe your ABC name or WIDG -for Widget ), and then you select which kind of positioning you want to have for your brand . For you, maybe INDUSTRIAL positioning can be OK for you or CORPORATE, or FAMILY NAME) . Or try others. (there is 22 positioning in pro version)
    The apps will generate semantic items added to key concept, wich express the positioning you choosed.
    So it's provide you a list of ORIGINAL names, linked with your business et what is the positioning of it.
    This apps is the same as used by the Brand Naming Agencies ! It is developed by a 20 years experienced prof in naming.
    And if you don't have an Iphone oe an Itouch, ask a friend !
  • Posted by Jay Hamilton-Roth on 11/2/2009 at 12:25 PM Accepted
    Are XYZ widgets being sold exclusively through your company? If so, then you might lose some name recognition. If XYZ aren't exclusive, then "The Widget Company" could be generic enough, but you miss the opportunity to highlight your main business (XYZs). So, consider: "Widgets: Specializing in XYZ, ABC, and more" (for example). That'll answer the questions you're getting and not lose your specialization.
  • Posted by tkavanaugh on 11/2/2009 at 12:26 PM Author
    I apologize first time posting - trying to keep it concise - I wasn't that clear. Here is a little more specific info:

    We are a roofing contractor, our name/branding/logo indicates that (suppose XYZ Roofing Company). We have expanded in the last few years into:

    >Renewable Energy
    >Concrete & Masonry Repairs

    and other trades etc..., but our name has remained the same (as indicated above).

    A common response we have from customers is "well I need a renewable energy company, not a roofing company". Now I realize this is also a positioning/sales issue, but bottom line we are hearing it consistently. Our thought are, let's rename/brand to The XYZ Company, and organize our different product lines under other brands/Divisions. I.E. - XYZ Renewable Company, A Division of The XYZ Company (as a footer). Does this make it a little more clear, thanks for the help everyone!
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