Changing the brand name is not a new thing, even the brands that have been on the market for a long time are not uncommon. The problem is the reason why businesses “change brand name” even when they are “making a business”?
The name changes caused a stir
A few years ago the market was tumultuous when big names like Vinagame changed to VNG, Kinh Do became Kido …
According to experts on branding, most of the brand “transformations” happen when businesses want to reposition the brand. Corresponding to those changes, businesses convey a new message for the next development stage.
In the early days of 2018, the real estate market received scooping information when a reputable brand in the market showed signs of rebranding. According to reliable sources, the Saigon Thuong Tin Real Estate Joint Stock Company (Sacomreal) will put on the “new wings” of TTC Land. The evidence is that on works, projects, transaction offices … have changed from Sacomreal to TTC Land. This is quite surprising news when Sacomeal is a reputable brand with a long experience in the market.
Changing the brand name of an enterprise, no matter how successful to a certain time, requires even a small change to suit the development strategy. That may be the time when an enterprise realizes that the brand identity system being used is no longer suitable for the tastes of consumers or the business needs to renew the brand, reposition the brand, then change the system. Brand identity system is an inevitable, demonstrating long-term strategy.
New wine must be… new
It can be said that changing the brand of the business is not a simple job. In addition to making customers “forget” the old name which is already difficult, how to make customers remember the new brand without recalling is a much more difficult job. So the story of rebranding business is always hard work but very interesting for those who love marketing.
For Saigon Thuong Tin Real Estate Joint Stock Company, in the past, this enterprise only invested in and built residential real estate projects (housing), but recently the company has been strong, expanding its field and Our model in the real estate industry to many other fields such as Travel Real Estate – Resort, Commercial Real Estate – Leasing, Industrial Real Estate – Logictis and Services.
The statistics on TTC Land are not specific to show that the total assets of this enterprise are nearly 17,000 billion VND, the land fund of more than 2,000 hectares is enough for the company to develop in the next 15 years. It is known that TTC Land’s scale of operations is not only limited to the South as before, but the company will expand its investment activities throughout the North, Central and South regions.
Returning to the story of rebranding, before “putting on new clothes”, businesses already have a strategy towards long-term goals to avoid making mistakes. Moreover, the rebranding is not just about changing the logo, slogan, product packaging, but behind that it must be a new commitment, to better meet the expectations of customers and partners.
Whether switching to a new brand will help TTC Land “shine” or not is still waiting for the future. However, with vital and drastic changes, daring to step out of their limits and safe areas, many investors and customers believe that this business will make it happen.
* Source: Vietnamnet