Accenture Case Study - 1
1. How did Accenture transfer the brand equity from its original name, Andersen Consulting, to the new company name?
To find a name that represents their company in a new face, the company put it as its top priority. Through marketing campaign, internet search, consulting outside firms, and employees’ participation worldwide, the company finally found its name, which is Accenture. During the process, the company was worry of how to transfer the brand equity from its original name, Andersen Consulting to the new name that customers still accept their products and services. Brand equity is defined by the book is the positive differential effect that knowing the brand name has on customer response to the product or service (Kotler & Armstrong 2008, page 231). Hence, the marketing teams came up with an idea that they put “Renamed. Redefined. Reborn. 01-01-01.” at the bottom right corner of the advertising newspaper to tell customers that the company is innovating to a different level of values and services to serve their customers. As soon as they decided on the new name, it was announced to the public. As a result, they initially received positive feedback from customers. By communicating well with the company existing customers throughout the process, the company has transferred much of its brand equity to its new name. Thus, Accenture tied its new name to the old company while distinguished the firm from its former parent company, Arthur Andersen.
2. Evaluate the Accenture brand name using the six criteria detailed in the chapter?
It was a difficult process in finding the new name for the company. However, with their best effort and commitment, the company finally found a new name that would represent their company to their customers. Its new name was Accenture, which had a combination of accent and future, intended to emphasize on the future, and what the company want to provide to its customers. The name Accenture did meet all the criteria mentioned
To find a name that represents their company in a new face, the company put it as its top priority. Through marketing campaign, internet search, consulting outside firms, and employees’ participation worldwide, the company finally found its name, which is Accenture. During the process, the company was worry of how to transfer the brand equity from its original name, Andersen Consulting to the new name that customers still accept their products and services. Brand equity is defined by the book is the positive differential effect that knowing the brand name has on customer response to the product or service (Kotler & Armstrong 2008, page 231). Hence, the marketing teams came up with an idea that they put “Renamed. Redefined. Reborn. 01-01-01.” at the bottom right corner of the advertising newspaper to tell customers that the company is innovating to a different level of values and services to serve their customers. As soon as they decided on the new name, it was announced to the public. As a result, they initially received positive feedback from customers. By communicating well with the company existing customers throughout the process, the company has transferred much of its brand equity to its new name. Thus, Accenture tied its new name to the old company while distinguished the firm from its former parent company, Arthur Andersen.
2. Evaluate the Accenture brand name using the six criteria detailed in the chapter?
It was a difficult process in finding the new name for the company. However, with their best effort and commitment, the company finally found a new name that would represent their company to their customers. Its new name was Accenture, which had a combination of accent and future, intended to emphasize on the future, and what the company want to provide to its customers. The name Accenture did meet all the criteria mentioned