By Jonathan Baker There’s a sense of comfort when we see or hear the name of a well-known brand. What happens to that familiarity if a famous brand decides to transform via rebrand? Case in point: The Campbell Soup Company’s recent plan to remove the word “Soup” from its name. What’s in a single word? The name “Campbell’s” is practically synonymous with warm, hearty soup. Why then, would the company choose to eliminate the word that defines the brand? Granted, in its over 100-year history, snacks, vegetables, salsa, and other foods have been added to the Campbell’s inventory. Many will wonder, however, if this change in wording might be too extreme. So, why this change? Redefinition for the future In an article posted by NBC TODAY, Mark Clouse, the president and CEO of the Campbell Soup Company, claimed that that this decision to change the name had been in the works for the past five years. Stating this was a “transformative journey,” bringing the brand into the future by way of a “new strategy, new mission” would be symbolized by changing the name to “the Campbell’s Company.” This news item raises questions about rebranding. Other well-known name changes among brands This is just the latest in a long list of brands that have refreshed their identities with a name change. Consider “Kentucky Fried Chicken” (which is now “KFC”), and “Dunkin’ Donuts” (now simply “Dunkin’) as two examples. These brands are still in operation, so Campbell’s will likely not lose business. The question is raised, however, whether a rebrand through a name change is worth the effort. Potential pros to rebranding A company’s decision to rebrand is beneficial for standing out among competitors and attracting new—particularly young—customers. And, as in the case of Campbell’s, dropping “Soup” from the name may also reflect relevance of other food items and related brands. (Campbell’s, it should be noted, is the umbrella company for other famous brands such as Prego, V8, and Pepperidge Farm, among others.) As with everything else, however, there is a flip side to possible benefits… Considered cons to rebranding Maybe it’s all a matter of human nature, but many people (read: customers) are uncomfortable with even the slightest change to a brand—even if it’s to the name. If a brand has been in business for a long time, this feeling of discomfort is greater. Add to this the financial cost and amount of time devoted to research, which may result in reservations about such a change. (Side note: The NBC TODAY article points out that the name change will need approval from shareholders at the company’s annual meeting. How many shareholders will approve, and how many will disapprove?) Do you want to refresh and rebrand your business? Reach out to the marketing experts at the EGC Group. We can help you examine what elements would benefit from changes, whether they are major or as subtle (or not so subtle) as a name change.
