When a business changes its name, it’s usually a big deal. You see, it can cost millions for a company to rebrand itself under a different name. It has to change its signage, advertising copy, and a million other things. It’s a task not to be taken lightly. For example, when Kentucky Fried Chicken changed its name to KFC (NYSE: YUM), it did so to get the word “fried” out of its advertising in an age of health-conscious customers. Cigarette maker Phillip Morris did the same when they rebranded to Altria (NYSE: MO) in 2003. The political pressures associated with… Read More
When a business changes its name, it’s usually a big deal. You see, it can cost millions for a company to rebrand itself under a different name. It has to change its signage, advertising copy, and a million other things. It’s a task not to be taken lightly. For example, when Kentucky Fried Chicken changed its name to KFC (NYSE: YUM), it did so to get the word “fried” out of its advertising in an age of health-conscious customers. Cigarette maker Phillip Morris did the same when they rebranded to Altria (NYSE: MO) in 2003. The political pressures associated with “big tobacco” created a need for a less caustic moniker. But it’s important to understand that neither KFC nor Altria changed their businesses. They still sell fried chicken and tobacco respectively. They just do it under more appealing names. #-ad_banner-#Now, companies don’t just change their names to avoid negative connotations. Some companies try desperately to take advantage of some prevailing social trend. This was never more obvious than when companies added “.com” to their names during the tech craze in the late 1990s. This was confirmed in a research article that indicates firms that added “.com”… Read More