Click button to open menu

Avoiding the brand pitfalls

At Greenaway we can advise business owners in the Kent area on many aspects of running and growing a business. Here are some traps to avoid when branding or rebranding...

Even the biggest companies can make branding errors...

Beware when rebranding

Although you should reassess your brand from time to time to ensure that it has not become outdated or inappropriate, it is important not to alienate your existing customers.

One of the most famous examples of disastrous rebranding came in 1985 with Coca-Cola's abrupt replacement of its most famous product with the sweeter 'New Coke'. The move had come in response to a shrinking market share, as blind tests suggested that many people preferred the taste of Pepsi.

The change was a public relations debacle and Coca-Cola were forced to revert to their original formula. However, there was a twist in the tale, as nostalgic demand for the traditional Coke had grown so strong that the company was soon able to re-establish its market lead.

Lost in Translation?

Do you intend to trade overseas? If so, take care to research your local market. Legend has it that Chevrolet's Nova model failed to sell in Mexico because "no va" in Spanish translates as "it doesn't go". Meanwhile the Kentucky Fried Chicken slogan 'finger-lickin' good' came out as 'eat your fingers off' in China.

Some of these stories might in fact be urban myths, but the moral - that careful research is vital - is valid.

If you are in the Kent area and are looking for support and advice from a team of professional accountants and business advisers, contact Greenaway.

Individuals

Looking for proactive advice to help you boost your personal wealth and minimise your tax liability?

Learn More »

Start-ups

Are you starting a new venture? We will work with you to ensure the best possible chance of success.

Learn More »

Businesses

Are you a business owner? Let us help you grow your business, increase your profitability and reduce your tax bill.

Learn More »

Registered to carry on audit work in the UK & Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales.

Details about our audit registration can be viewed at www.auditregister.org.uk for the UK and www.cro.ie/auditors for Ireland, under reference number C006856925

ICAEW-member-firm

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2018 Greenaway Chartered Accountants. All rights reserved.

Greenaway Chartered Accountants, 150 High Street, Sevenoaks, Kent TN13 1XE

We use cookies on this website, you can find more information about cookies here.