CM – The name change from Facebook to Meta reflects the common corporate tactics

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Facebook Inc.

FB 1.51%

said Thursday that it would change its name to Meta to rename and reflect its expansion into the Metaverse, a concept rooted in science fiction novels and referring to an extensive online world.

One Name change can be a signal to the market, competitors and advertisers that a company’s focus and portfolio will continue to change, even if the product of the same name keeps the same title

In this regard, Facebook’s rebranding could be most similar to the move by Google to set up a parent company

Alphabet Inc.

in 2015, said Jay Jurisich, CEO and Co-Creative Director of the Zinzin naming agency. Google became a subsidiary of the new parent company, which also includes their « Moonshot ». Initiatives.Â

« They realized that, from a strategic point of view, it made economic sense to separate all the stores they got into from their core brand that everyone knew, which was Google, » said Mr Jurisich. The tactic is not uncommon in the business world. Dunkin ???? The donuts were removed from their name in 2018 to signal an increased focus on coffee and other areas.

Apple Inc.

The computer was removed from its name in 2007 to reflect its move to home devices and phones.

“This transition from an initial product or service offering to a broader identity is pretty typical of large businesses as they scale – and sometimes require it a name change. « 

Phil Davis,

President of the naming agency Tungsten Branding. “You say: we are not“ that ”? no longer. We’re more – this one.  » a ????

But a new name alone cannot accomplish this task. Mr. Davis cited Radio Shack’s attempt to rename The Shack in 2009 when the electronics retailer tried to stem a long decline that would eventually end in bankruptcy six years later.

« Radio Shack had to be a different type of company, not just its name » he said. “If you do [a name change] just to change the conversation, it very rarely works. When they say we’re changing direction, there has to be an actual change of direction

Brands also try to change their name if there’s a merger or change in strategic direction, or if the current name doesn’t work. said Patti Williams, a professor in the marketing department of the Wharton School at the University of Pennsylvania

Facebook has recently been the subject of critical review, including its pursuit of younger users and its response to product abuse. Attention follows the Wall Street Journal’s Facebook files series, largely based on documents gathered by former Facebook product manager Frances Haugen, who testified before Congress earlier this month

Both at the product level and at At the level of the umbrella brand, the parent brand, there are currently many negative feelings. And they want to unequivocally initiate this new strategic direction to say that they are more than just Facebook

Philip Morris’s

In 2003, the renaming to Altria was praised by critics and branding consultants alike. At the time, the company said the name change would better reflect the diversity of its portfolio, beyond the company’s association with tobacco and its Marlboro cigarette brand. To get the news out, it announced an eight-week advertising campaign that included the web, TV, print, and even direct mail. Critics said the move was intended to downplay the company’s association with tobacco.

Tribune Publishing Co. reverted to its original 150-year-old name in 2018, just two years after switching to the widely vilified Tronc. As an abbreviation for Tribune Online Content, Tronc has become a punch line in the media industry and beyond. Comedian John Oliver said the name sounded like a pile of printed newspapers being thrown in a dumpster.

When

Kraft Foods Inc.

In 2012, decided to split in two, Mondelez International Inc. chose it as the name for its global snack food business, which includes brands such as Oreo, Cadbury and Wheat Thins. â ???? Moonsâ ???? comes from the Latin word for « world, » and â ???? delÄ ?? zâ ???? is an « imaginative expression of » delicious « ? a???? Strength managers said. But many branding experts were baffled. Zinzin’s Mr. Jurisich called the name « weak, unmistakable and ineffable » in a blog post at the time.

Nevertheless, some branding tricks can pay off. If Facebook’s new brand is able to cement the company’s position in the Metaverse space, it could add to its success there, say marketers.

« If [Facebook] can somehow become synonymous with the Metaverse, that’s a potentially big head start, « said Mr. Davis.

Although supply chain challenges and inflation could curb consumers ???? Cheer on this holiday shopping season, spending is expected to rise across all categories. Retailers that serve shoppers both online and in-store – and plan their inventory well in advance – may be better positioned for strong Christmas sales.

Rapidly changing consumer expectations, the merging of physical and digital channels, and changing talent and Technology requirements have created unprecedented complexity for businesses. The Global Marketing Trends 2022 The report examines seven trends that can help executives create a holistic view of customer engagement and move their business forward.

To thrive in the future and fend off new competition, health plans increasingly recognize the need to modernize their core platforms and reshape their stores to satisfy customers. evolving requirements.

Although supply chain challenges and inflation could curb consumers ???? Cheer on this holiday shopping season, spending is expected to rise across all categories. Retailers that serve shoppers both online and in-store – and plan their inventory well in advance – may be better positioned for strong Christmas sales.

Rapidly changing consumer expectations, the merging of physical and digital channels, and changing talent and Technology requirements have created unprecedented complexity for businesses. The Global Marketing Trends 2022 The report examines seven trends that can help executives create a holistic view of customer engagement and move their business forward.

To thrive in the future and fend off new competition, health plans increasingly recognize the need to modernize their core platforms and reshape their stores to satisfy customers. evolving requirements.

Keywords:

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