Theories of rebranding
Theoretical Framework for Rebranding
In order to achieve the purpose of this study which is to assess the correlation between organizational rebranding and its performance, two models shall be used.
The effectiveness of the rebranding undertaken in the various companies cased in this study shall be explored using the Corporate Rebranding Model proposed by Daly and Moloney, (2004). The two popular models known in the corporate rebranding field are the Muzellec and Lambkin’s (2006) model and Daly and Moloney’s (2004) model. Muzellec and Lambkin’s (2006) model developed out of a study of 165 cases of rebranding focuses especially on driving forces and reasons for corporate re-branding, but suggest a model of the re-branding process. In their model, re-branding factors lead to the formulation of re-branding goals which reflect a new identity (internal: portrayed in employee’s culture) and create a new image (external: portrayed in stakeholders’ images). (Muzellec & Lambkin, 2006) This model presents clear aims of the rebranding process, but neglects the end result of rebranding, which is brand equity (Goi & Goi, 2011). However, studies such as consumer-based brand equity studies (e.g. Kim et al., 2003; Prasad & Dev, 2000) have shown a stronger link between brand equity and an organization’s financial performance or market value (Ahonen, 2008) On this note the Muzzellec and Lambkin’s (2006) model cannot be adopted as the framework for this study.
Daly and Moloney’s (2004) model on the other hand explains the general picture of the rebranding process and is suitable to function as a framework in establishing an overview of the different initiatives launched (Ahonen, 2008). The model will be used to explain the rebranding of the selected organizations as seen from the management perspective. According to the model a rebranded company goes through three stages of analysis, planning and evaluation, which each consist of different sub-processes or initiatives (Daly and
In order to achieve the purpose of this study which is to assess the correlation between organizational rebranding and its performance, two models shall be used.
The effectiveness of the rebranding undertaken in the various companies cased in this study shall be explored using the Corporate Rebranding Model proposed by Daly and Moloney, (2004). The two popular models known in the corporate rebranding field are the Muzellec and Lambkin’s (2006) model and Daly and Moloney’s (2004) model. Muzellec and Lambkin’s (2006) model developed out of a study of 165 cases of rebranding focuses especially on driving forces and reasons for corporate re-branding, but suggest a model of the re-branding process. In their model, re-branding factors lead to the formulation of re-branding goals which reflect a new identity (internal: portrayed in employee’s culture) and create a new image (external: portrayed in stakeholders’ images). (Muzellec & Lambkin, 2006) This model presents clear aims of the rebranding process, but neglects the end result of rebranding, which is brand equity (Goi & Goi, 2011). However, studies such as consumer-based brand equity studies (e.g. Kim et al., 2003; Prasad & Dev, 2000) have shown a stronger link between brand equity and an organization’s financial performance or market value (Ahonen, 2008) On this note the Muzzellec and Lambkin’s (2006) model cannot be adopted as the framework for this study.
Daly and Moloney’s (2004) model on the other hand explains the general picture of the rebranding process and is suitable to function as a framework in establishing an overview of the different initiatives launched (Ahonen, 2008). The model will be used to explain the rebranding of the selected organizations as seen from the management perspective. According to the model a rebranded company goes through three stages of analysis, planning and evaluation, which each consist of different sub-processes or initiatives (Daly and