For a struggling company, sometimes a redesigned logo or the introduction of a new product does the trick. Other times, an entire new brand identity may be the best bet. Of course, it’s important to work to make sure you’ve found the right name for your brand before putting time and resources into making your brand take off and rebranding can be scare.
But if the following list shows us anything, it’s that even some of the biggest players out there realized their name was a roadblock on their path to success.
Here are 10 household name companies that definitely made the right choice in rebranding.
1. Backrub to Google (1997)
You’ll be hard-pressed to find anyone who isn’t familiar with the Google name and iconic multicolored logo, but for almost a year the search engine was called BackRub. When founders Larry Page and Sergey Brin needed to expand beyond their original Stanford University servers, the chose to swap out the name too. You may know that the name was inspired by the number “googol,” but it was actually a spelling mistake when registering the domain, not a creative choice, that led to its current name.
2. Lucky Goldstar to LG (1995)
The LG name has a long history beginning with the merge of two South Korean companies, Lucky and GoldStar in 1958. The two companies produced hygiene products and consumer electronics, respectively, and operated as Lucky-Goldstar for over thirty years. In order to better compete in the Western market, the company name was shortened to LG, leading to the “Life’s Good” tagline and clever smiling face logo.
3. Brad’s Drink to Pepsi (1898)
For a short five years, the popular soda went by the less catchy name Brad’s Drink. The original name came from inventor Caleb Bradham’s last name, and the current name comes from “pepsin,” the enzyme that helps digest proteins in food. The switch was definitely a good move, but Pepsi sounds a lot cooler when you don’t know where the name comes from.
4. Sound of Music to Best Buy (1983)
In 1983, Sound of Music was a humble chain of seven electronics stores specializing in high fidelity stereos. Today, there are over 1,000 locations nationwide, and stereos are just one of a long list of electronics for sale. As the company grew and their merchandise offered expanded, the switch to Best Buy was a great, necessary transition.
5. Blue Ribbon Sports to Nike (1971)
In one of their first ad campaigns after adopting the new name after the Greek goddess of victory, Nike stated “There is no finish line.” In a direct response to their old name, Nike suggested their bright future ahead and prospective goals. Today, the name and swoosh logo are one of the most recognizable brand identities around the world.
6. Pete’s Super Submarines to Subway (1968)
In 1965, Subway founder Fred DeLuca borrowed $1,000 from his friend Peter Buck. To show his gratitude, DeLuca named his first sandwich shop after Peter. The pair went on to run the shop together, but changed the name after finding little success under the original moniker. Now, Subway is the the largest restaurant operator in the world, with 44,852 restaurants in 112 countries.
7. AuctionWeb to eBay (1997)
This name change came from outside forces, when founder Pierre Omidyar realized media coverage of his auction site frequently referred to it as eBay, the name of his umbrella company. The original eBay Internet housed four sites: AuctionWeb, a travel site, a personal shipper site, and a site about the Ebola virus. Only the first had much success. As a result, Omidyar officially changed the name to the one people already were starting to call it.
8. Phoenix to Firebird to Firefox (2004)
The free, open-source browser went through a series of subtle name changes before finally hitting the jackpot with Firefox. When it first appeared for public testing in September 2002, the name was Phoenix, but less than half a year later a trademark dispute began with BIOS manufacturer Phoenix Technologies. The name was then tweaked slightly to Firebird, another name for the mythical phoenix. More naming disputes took place over the next year, and in February 2004, the name Firefox was finally chosen.
9. Jerry’s Guide to the World Wide Web to Yahoo (1994)
Another search engine that started at Stanford, co-founders Jerry Yang and David Filo were still PhD students when they started what we now know as Yahoo. The root of the original name is obvious, while the current one stands for “Yet Another Hierarchical Officious Oracle.”
10. Research in Motion to Blackberry (2013)
Research In Motion was already a success when the name was switched to Blackberry in 2013. Although the first first device to carry the BlackBerry name was the BlackBerry 850, an email pager introduced in 1999, the company didn’t officially the name of its best-known product until 2013 as part of a larger comeback plan. Unfortunately, this case shows that sometimes more than a new name is needed to bring a struggling company back to action.
Bite-sized retail: Macy’s plans to move out of malls
(BUSINESS MARKETING) While Macy’s shares have recently climbed, the department store chain is making a change in regards to big retail shopping malls.
I was recently listening to a podcast on Barstool Sports, and was surprised to hear that their presenting sponsor was Macy’s. This struck me as odd considering the demographic for the show is women in their twenties to thirties, and Macy’s typically doesn’t cater to that crowd. Furthermore, department retail stores are becoming a bit antiquated as is.
The sponsorship made more sense once I learned that Macy’s is restructuring their operation, and now allowing their brand to go the way of the ghost. They feel that while malls will remain in operation, only the best (AKA the malls with the most foot traffic) will stand the test of changes in the shopping experience.
As we’ve seen a gigantic rise this year in online shopping, stores like Macy’s and JC Penney are working hard to keep themselves afloat. There is so much changing in brick and mortar retail that major shifts need to be made.
So, what is Macy’s proposing to do?
The upscale department store chain is going to be testing smaller stores in locations outside of major shopping malls. Bloomingdale’s stores will be doing the same. “We continue to believe that the best malls in the country will thrive,” CEO Jeff Gennette told CNBC analysts. “However, we also know that Macy’s and Bloomingdale’s have high potential [off]-mall and in smaller formats.”
While the pandemic assuredly plays a role in this, the need for change came even before the hit in March. Macy’s had announced in February their plans to close 125 stores in the next three years. This is in conjunction with Macy’s expansion of Macy’s Backstage, which offers more affordable options.
Gennette also stated that while those original plans are still in place, Macy’s has been closely monitoring the competition in the event that they need to adjust the store closure timeline. At the end of the second quarter, Macy’s had 771 stores, including Bloomingdale’s and Bluemercury.
Last week, Macy’s shares climbed 3 percent, after the retailer reported a more narrow loss than originally expected, along with stronger sales due to an uptick in their online business. So they’re already doing well in that regard. But will smaller stores be the change they need to survive?
Why you must nix MLM experience from your resume
(BUSINESS MARKETING) MLMs prey on people without much choice, but once you try to switch to something more stable, don’t use the MLM as experience.
MLM experience… Is it worth keeping on your resume?
Are you or someone you know looking for a job after a stint in an MLM? Well, first off, congratulations for pursuing a real job that will provide a steady salary! But I also know that transition can be hard. The job market is already tight and if you don’t have much other work experience on your resume, is it worth trying to leverage your MLM experience?
The short answer? Heck no.
As Ask the Manager puts it, there’s a “strong stigma against [MLMs],” meaning your work experience might very well put a bad taste in the mouth of anyone looking through resumes. And looking past the sketchy products many offer, when nearly half of people in MLMs lose money and another quarter barely break even, it sure doesn’t paint you in a good light to be involved.
(Not to mention, many who do turn a profit only do so by recruiting more people, not actually by selling many products.)
“But I wouldn’t say I worked for an MLM,” you or your friend might say, “I was a small business owner!”
It’s a common selling point for MLMs, that often throw around pseudo-feminist feel good slang like “Boss Babe” or a “Momtrepreneur,” to tell women joining that they’re now business women! Except, as you might have guessed, that’s not actually the case, unless by “Boss Babe” you mean “Babe Who Goes Bankrupt or Tries to Bankrupt Her Friends.”
A more accurate title for the job you did at an MLM would be Sales Rep, because you have no stake in the creation of the product, or setting the prices, or any of the myriad of tasks that a real entrepreneur has to face.
Okay, that doesn’t sound nearly as impressive as “small business owner.” And I know it’s tempting to talk up your experience on a resume, but that can fall apart pretty quickly if you can’t actually speak to actual entrepreneur experience. It makes you look like you don’t know what you’re talking about…which is also not a good look for the job hunt.
That said… Depending on your situation, it might be difficult to leave any potential work experience off your resume. I get it. MLMs often target people who don’t have options for other work opportunities – and it’s possible you’re one of the unlucky ones who doesn’t have much else to put on paper.
In this case, you’ll want to do it carefully. Use the sales representative title (or something similar) and, if you’re like the roughly 50% of people who lose money from MLMs, highlight your soft skills. Did you do cold calls? Tailor events to the people who would be attending? Get creative, just make sure to do it within reason.
It’s not ideal to use your MLM experience on a resume, but sometimes desperate times call for desperate measures. Still, congratulations to you, or anyone you know, who has decided to pursue something that will actually help pay the bills.
This smart card manages employee spending with ease
(BUSINESS MARKETING) Clever credit cards make it easier for companies to set spending policies and help alleviate expense problems for both them and their employees.
Company credit cards are a wonderful solution to managing business expenses. They work almost exactly like debit cards, which we all know how to use, am I right? It is the twenty-first century after all. Simply swipe, dip, or tap, and a transaction is complete.
However, keeping up with invoices and receipts is a nightmare. I know I’ve had my fair share of hunting down wrinkled pieces of paper after organizing work events. Filling out endless expense reports is tedious. Plus, the back and forth communication with the finance team to justify purchases can cause a headache on both ends.
Company credit cards make it easier for companies to keep track of who’s spending money and how much. However, they aren’t able to see final numbers until expense reports are submitted. This makes monitoring spending a challenge. Also, reviewing all the paperwork to reimburse employees is time-consuming.
But Spendesk is here to combat those downsides! This all-in-one corporate expense and spend management service provides a promising alternative to internal management. The French startup “combines spend approvals, company cards, and automated accounting into one refreshingly easy spend management solution.”
Their clever company cards are what companies and employees have all been waiting for! With increasing remote workforces, this new form of payment comes at just the right moment to help companies simplify their expenditures.
These smart cards remove limitations regular company cards have today. Spendesk’s employee debit cards offer companies options to monitor budgets, customize settings, and set specific authorizations. For instance, companies can set predefined budgets and spending category limitations on flights, hotels, restaurants, etc. Then they don’t have to worry about an employee taking advantage of their card by booking a first-class flight or eating at a high-end steakhouse.
All transactions are tracked in real time so finance and accounting can see purchases right as they happen. Increasing visibility is important, especially when your employee is working remotely.
And for employees, this new form of payment is more convenient and easier on the pocket. “These are smart employee company cards with built-in spending policies. Employees can pay for business expenses when they need to without ever having to spend their own money,” the company demonstrated in a company video.
Not having to dip into your checking account is a plus in my book! And for remote employees who just need to make a single purchase, Spendesk has single-use virtual debit cards, too.
Now, that’s a smart card!
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