Developing rebrand strategy for Saigontourist holding company

TRNGĐI HC M TP. HCM UNIVERSITÉ LIBRE DE BRUXELLES
HO CHI MINH CITY OPEN UNIVERSITY SOLVAYBRUSSELSSCHOOL
MBAVB4
CHAU HOANG NHUT
DEVELOPING REBRAND STRATEGY FOR
SAIGONTOURIST HOLDING COMPANY
MASTER PROJECT
MASTER IN BUSINESS
ADMINISTRATION
(PART-TIME)



Ho Chi Minh City
(2011)
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ACKNOWLEDGEMENT
I would like to express my heartfelt gratitude to Dr. HOANG THI PHUONG THAO
for her patient guidance and expert supervision. From the beginning of this dissertation,
Dr. PHUONG THAO has given to continue the encouragement to make this
dissertation become possibility, sharp studying and successfully finishing.
Greatly and sincerely thanks are given to SAIGONTOURIST HOLDING COMPANY
and Mr. TRAN HUY THANG, Director of Sales & Marketing; Dentsu Inc. expert team
and other professors, lecturers of Solvay Business School, Open University of Ho Chi
Minh City and Board of Examining who have excellent and professional knowledge
and advices supporting me during post-graduate program and have spared their
precious time to read through and given comments on this dissertation.
I also specially thanks to my colleagues, classmates and others who help me
information, questionnaire development, contribution ideas and others.

Hoping that all of you are more and more healthful and successful in your life.
With all the appreciation.

Chau Hoang Nhut
MBAVB4
March, 2012, Ho Chi Minh City
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COMMITMENTS
I confirm that this thesis is a presentation of my original research work which I have
studied and researched. Wherever contributions of others are involved, every effort is
made to indicate this clearly, with due reference to the literature, and acknowledgement
of collaborative research and discussions.
This work is done for the study purpose. Copying or using this paper for any other
purpose must be subject to the written acceptance of the author.

Chau Hoang Nhut
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TUTOR’S COMMENTS
Candidate: CHAU HOANG NHUT
Project title:
Comments:

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TABLE OF CONTENTS

CHAPTER 1 INTRODUCTION 2
1.1. Background of Vietnam tourism industry and Saigontourist Holding Company . 2
1.2. Problem statement 4
1.3. Project objectives 5
1.4. Scope and limitations of the research 5
1.5. Methodology of the research 6
1.6. Structure of project 8
CHAPTER 2 LITERATURE REVIEW 10
2.1. Concepts of a brand 10
2.2. Functions of a brand 10
2.3. Importance of a brand 12
2.4. Value of a brand 12
2.5. Concept of branding 13
2.6. Branding identity and image 14
2.7. Rebranding 16
2.8. Managing the corporate rebranding 18
CHAPTER 3 INTERNAL ANALYSIS OF SAIGONTOURIST HOLDING
COMPANY 24
3.1. Company background 24
3.2. Vision, mission and core values of Saigontourist Holding Company 25
3.3. Key facts of Saigontourist Holding Company in 2011 26
3.4. Current branding of Saigontourist Holding Company 27
3.5. Challenges to Saigontourist Holding Company’s brand 28
3.6. Summary: Strengths and Weaknesses of Saigontourist Holding Company 29
CHAPTER 4 EXTERNAL ANALYSIS OF SAIGONTOURIST HOLDING
COMPANY 31
4.1. Vietnam travel & tourism industry overview 31
4.2. Competitor brand evaluation 33
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4.3. Customer perceptions about the brands of Saigontourist Holding Company,
Accor group and Benthanh Tourist Service company 39
4.4. Summary: Opportunities and Threats of Saigontourist Holding Company 42
CHAPTER 5 DEVELOPING REBRANDING STRATEGY AND NEW BRAND
BROADCASTING PROGRAMS FOR SAIGONTOURIST HOLDING
COMPANY 43
5.1. SWOT ANALYSIS 43
5.2. Saigontourist Holding Company new brand broadcasting programs 48
5.3. Rebrand project planning 51
CHAPTER 6 CONCLUSION AND RECOMMENDATIONS 53
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ABBREVIATIONS

SHC: Saigontourist Holding Company
WTTC: World Travel & Tourism council
VNAT: Vietnam National Administration of Tourism
GDP: Gross Domestic Product.
VND: Vietnam Dong
USD: US Dollar
WTO: World Trade Organization
SWOT: Strengths, Weaknesses, Opportunities and Threats

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LIST OF FIGURES
Figure 1.1: Research flowchart 8

Figure 2.1: Corporate rebranding framework 19
Figure 2.2: Corporate rebranding framework for Saigontourist Holding Company 21
Figure 3.1: Saigontourist Holding Company 24
Figure 3.2: Saigontourist Holding Company 2011 key facts 26
Figure 4.1: Vietnam: Direct Contribution of Travel & Tourism to GDP 32
Figure 4.2: Accor group worldwide 33
Figure 4.3: Accor Group in Vietnam 34
Figure 4.4: Accor brands 35
Figure 4.5: Perceptions of Accor group brand 36
Figure 4.6: Perceptions of Benthanh Tourist Service company brand 37
Figure 4.7: Perceptions of Saigontourist Holding Company brand 38
Figure 4.8: Customer perceptions of the three brands 40
Figure 5.1: Saigontourist Holding Company SWOT analysis 43
Figure 5.2: Saigontourist Holding Company brand identity modification 46
Figure 5.3: New brand broadcasting programs for Saigontourist Holding Company 49
Figure 5.4: Estimated revenue to 2015 of Saigontourist Holding Company 52
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LIST OF TABLES
Table 5.1: Customer segmentation and approaching method 44
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ABSTRACT

In today’s Vietnam travel & tourism marketplace, companies need to set up effective
branding strategies in order to be competitive. Saigontourist Holding Company is
considered the leader in Vietnam travel & tourism industry, with 36 years of
experiences alongside with many valuable assets: human resources, infrastructures,

support from local and national authorities… But in the next stage of competition in
travel & tourism industry, some weaknesses of the company are revealed, and one of
the weak point of Saigontourist Holding Company is the branding system with unclear
branding structure, inappropriate brand name in non-tourism business, brand awareness
in global marketplace is low… which caused a lot of difficulties when the company
want to join the international travel & tourism market.
The purpose of this thesis is to investigate the internal and external factors of
Saigontourist Holding Company in order to find out what should be changed in the
current branding of the company. And after that, some modifications and change in the
brand name, logo design, color design, slogans… will be conducted to suit the visions
of Saigontourist Holding Company of doing business in the upcoming years both in
domestic market and global market.
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CHAPTER 1

INTRODUCTION
This chapter will introduce the background of Vietnam tourism industry and brief
information about Saigontourist Holding Company, and the problem statement,
objectives, methodology and structure of this research.
1.1. Background of Vietnam tourism industry and Saigontourist Holding
Company
Tourism in Vietnam is a significant component of the modern Vietnamese economy. In
2004, Vietnam received 2.9 million international arrivals, up from 2.4 million the
previous year. The annual increase represented a strong rebound from a slight decline
in 2003 attributable to the Severe Acute Respiratory Syndrome (SARS) epidemic in
Asia. From 1999 to 2004, tourism rose by 63 percent. Most of the visitors in 2004, 27
percent, came from China, with 8 to 9 percent each coming from the United States,
Japan, and South Korea. The Vietnam National Administration of Tourism is following

a long-term plan to diversify the tourism industry, which brings needed foreign
exchange into the country.
In 2008, Vietnam received 4.218 million foreign visitors, in 2009 the number was 3.8
million, down 11% due to the economy crisis. In 2011, Vietnam received about 6
million international visitors, 1 million more than that in 2010 (Vietnam National
Administration of Tourism report, 2011).
Tourism is increasingly important in Vietnam. For backpackers, culture and nature
lovers, beach-lovers and veterans touring the country for a long time, Vietnam has
emerged itself as a new tourist destination in South-East Asia and on is now on lists in
magazines worldwide. Hotel investors especially the potential of the 3000-kilometer-
long coast line and the big cities. The tourism offer has been increasingly diversified.
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Local and international tour operators offer tours to ethnic minority groups, walking
and bicycle tours, kayak trips and multi-country trips in particular in connection with
neighboring Cambodia, Laos and Thailand. In addition, thanks to the lift of several
movement regulations, foreign tourists have been able to travel freely in the country
since 1997.
The economy of Vietnam has transformed from an agrarian to a service economy.
More than a third of gross domestic product is generated by services, which include the
hotel and catering industry and transportation. The manufacturing and construction (28
percent), agriculture and fisheries (20 percent) and mining (10 percent) have much
smaller shares. Meanwhile, tourism contributes more 4.5 percent to gross domestic
product. More and more foreign direct investment has been focused on tourism. After
the heavy industry and urban development, most foreign investment has been
concentrated in tourism, especially in hotel projects. (VNAT report, 2011)
According to the new strategy 2473/Q-TTG has just approved by the Prime Minister
on 30 December 2011 about ―The strategy for developing local tourism until 2020 with
a vision toward 2030‖, Vietnam will become a nation with a highly effective tourism

sector by 2030. Tourism sector will develop by an average pace of 11.5 – 12% from
2011 to 2012 and the country set a target to welcome 7 – 7.5 million international
tourists and handle 36 – 37 million domestic visitors in 2015.
Saigontourist was founded 35 years ago since starting from 1975 in Ho Chi Minh city
with the initial business in the tourism industry.
On March 30th, 1999, Saigontourist Holding Company was established by the decision
of The People’s Committee of Ho Chi Minh city. It has since grown to encompass 4
major business areas across:
Hotels & Resorts. Saigontourist Holding Company has 54 hotels and 13 resorts
from 3 to 5 stars (with over 8000 rooms) throughout nationwide of Vietnam
under different names.
Travel service with 2 companies:
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o Saigontourist Travel Service company with 4 branches (Ho Chi Minh city,
Ha Noi, Da Nang and Can Tho).
o Fiditour Travel Services company.
Range of restaurant systems.
Other services: Saigon Exhibition & Convention Center, Saigontourist Cable
Television Company, Dam Sen Park, Binh Quoi Tourism Village…
In recent years, Saigontourist Holding Company has diversified, and is now managing
8 travel service companies, 54 hotels, 13 resorts and complexes, and 28 restaurants
with well-appointed facilities. It has also cooperated with more than 50 local joint
ventures, public-private business cooperation establishments and joint stock
companies, and 9 joint ventures with foreign partners.
In order to meet the requirements from the stakeholders and to increase
competitiveness of Saigontourist Holding Company in domestic and foreign market,
the company should need the long-term brand and marketing strategy, using effects of
the long-time history development and current brand awareness are higher than other

ones in Vietnam. Moreover, building brand name is indispensable to make the
competitive advantages, gain more economic values (through pricing policies) and
improve the company’s image to international markets.
1.2. Problem statement
The first problem is the inconsistence and there is no guideline of using the brand logo.
Some of Saigontourist Holding Company’s subsidiaries are founded from a long time
ago, therefore they had their own logos, brand names… and after joining Saigontourist
Holding Company’s system, their manager keep on developing their own marketing
and branding programs with their current brand. Beside of that, its subsidiaries also do
not have any guidance in terms of branding activities from the Group and no brand
identity about Saigontourist Holding Company under those types of services. This
leading to an inconsistent and coherent image of the company.
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The second problem which the company is facing is the name of Saigontourist Holding
Company is only awared as Saigontourist Travel Service Company while it’s just the
Group’s subsidiary. The reason of this is the initial business of Saigontourist Holding
Company is travel service, and after a long time of activating in tourism industry, the
company has developed into a group with many subsidiaries, but for management
reason, the company name is kept until now. This lead to the confusing of the
company’s image and company name in customers’ minds, therefore make the
marketing programs and branding strategy become ineffective and costly.
1.3. Project objectives
Based on the troubles that Saigontourist Holding Company is facing in such a new
stage of market development and competition, a rebranding project is needed to create
a crystal clear, consistent and modern image of the company. Solutions that the rebrand
project will conduct are summarized below:
To analyze the current situation of branding in Saigontourist Holding
Company.

To suggest a new branding strategy for Saigontourist Holding Company which
represent the company with modern and standardized brand image,
characteristic, vision.
1.4. Scope and limitations of the research
This research topic is mainly based on secondary data analysis and the qualitative
research method to gather the information and data from perceptions and observations
from other points of view.
The research focuses on rebranding of Saigontourist Holding Company, which is a
group that has many services and products to deliver but not engage directly in the
market field, so I skipped the detailed analysis of the macro and micro environment of
Vietnam and the corporation. This research analyzed the internal and external points of
view of the current brand structure and logo design of Saigontourist Holding Company
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and the main competitors in Vietnam. Desk research method and interview with
persons in charge of the rebranding project is done in order to collect data for the
research.
This research methodology may apply for other Vietnam companies.
This research is trying to suggest a rebranding strategy to Saigontourist Holding
Company. Therefore HR strategy, financial strategy and accounting are not considered,
but some information in the research is collected from those operations.
1.5. Methodology of the research
First of all, the concept of brand and rebrand is developed, based on the reality of
Saigontourist Holding Company, those concepts will be narrowed to be appropriated.
Second is the data collective method. In this research, both primary and secondary data
are used and the research method is in-depth interview. A qualitative research
approach was used, since the primary data was collected on a small scale level and
since the purpose of this research was to gain a deeper understanding of actions in
certain situations. The ambitions of this research was to gain an in-depth view of the

rebranding situation of a company, hence qualitative research was most suited.
Third is data analysis, in which the secondary and primary data necessary for the
rebranding project of Saigontourist Holding Company are analyzed.
Secondary data:
o A survey with 100 samples which reflects the customer perceptions about
Saigontourist Holding Company and main competitors in Vietnam market
like Accor group in Hotel business and Benthanh Tourist in Travel service
are conducted. The research is done with customers who used travel and
hotels services. They are all around 25 – 55 years old, living and working
in Hochiminh City with stable income around 6 – 50 million VND per
month, that considered middle class to hi-end customers.
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o Besides of that, the information from existing reports of Vietnam National
Tourism Administration (VNAT), World Travel & Tourism Council
(WTTC) and Saigontourist Holding Company and other related
information are collected.
Primary data:
o An interview with Mr. Tran Huy Thang, Sales & Marketing Director of
Saigontourist Holding Company and branding consultant experts in
Dentsu Inc. is conducted. The interview guide was sent to the respondents
in advance via email. The interview questions are focused on the brand
identity design of Saigontourist Holding Company and competitors in
Vietnam; the requirements of the new brand identity for Saigontourist
Holding Company and respondents can also provide some ideas and
suggestions for the rebrand project.
o Opinions of respondents about current brand structure of Saigontourist
Holding Company as well as the main competitors of Saigontourist
Holding Company in Vietnam; the strengths and weaknesses of the brand

and the reason that lead to the rebranding of the corporation. These points
of view are the suggestions, which drive the general direction of this
research.
After all, some conclusions and suggestions for the rebrand project of Saigontourist
Holding Company will be conducted, based on the theories developed and analyzed
data. The research flowchart will be summarized in figure 1.1 below
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Figure 1.1: Research flowchart

Source: Proposed by author
1.6. Structure of project
The research is structured according to 6 chapters. First chapter introduces the reason
why this research is started and the way approach to find out the core problem
statements.
In chapter 2 the brand strategy framework is built along with some branding concepts
given by many authors, experts and practitioners. Chapter 3 analyzes the current
business status and reveal some challenges to the rebranding strategy of Saigontourist
Holding Company and thus, give a clear view of the Strengths and Weaknesses of the
corporation.
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Chapter 4 analyzes the brand structure of main competitors of Saigontourist Holding
Company as well as some of 2011 key facts in Travel & Tourism industry of Vietnam
in order to construct the Opportunities and Threats of Saigontourist Holding Company.
In chapter 5, based on the SWOT analysis of Saigontourist Holding Company brand,
some modifications of the brand elements will be suggested and thus, lead to a new
brand decision. Besides of that, a new brand identity broadcasting program will also be

planned in order to bring the new image of Saigontourist Holding Company to the
public.
The last chapter is conclusions and suggestions for rebranding project of Saigontourist
Holding Company.
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CHAPTER 2

LITERATURE REVIEW
This chapter will present the important theories, concepts of brand, branding, brand
identity, brand image, rebranding. Moreover, a theoretical model that will be used is
the “Corporate Rebranding Model” (by Daly & Moloney, 2004) which present an
overall framework of a corporate rebranding process from beginning to end, have been
found to be relevant to the purpose of the research.
2.1. Concepts of a brand
A brand is defined as ―a name, term, sign, symbol, or design, or a combination of
them, intended to identify the goods or services of one seller or group of sellers and to
differentiate them from those of competitors‖ (Kotler & Keller, 2006).
Ind (1997) proposes that ―a product is something that is made, in a factory; a brand is
something that is bought, by a customer. A product can be copied by a competitor; a
brand is unique‖. Branding has the purpose of separating a brand from other
competitors and to identify a product or a service and to build customer awareness
(Kay, 2004). According to Albaum, Duerr and Strandskov (2005) a brand is ―anything
that identifies a seller’s goods or services and distinguishes them from others‖. A
trademark is a part of the brand and is protected by law (ibid).
Van Gelder (2003) states that when defining a brand; everything is carefully prepared
and planned in order to create value for the customers that will benefit the organization.
2.2. Functions of a brand
When moving from the concept of a brand, there is a need to explain its functions.

Kotler and Pfoertsch (2007) discuss that branding is a very intangible concept and is
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often being misunderstood as to forming an illusion that the product is better than it
really is. The authors state that, what brands actually do is that they facilitate the
identification of products, services and businesses, and differentiate them from
competition. Similar findings are made by Czinkota and Ronkainen (2004) and they
state that branding has importance to customers, because it simplifies the buying
process in the way that it reduces complicated buying decisions and provide emotional
benefits, and offer a sense of community‖.
According to Hollensen (2007) the basic purposes of a brand is universal, and these
are:
To distinguish a company’s offering and differentiate one particular product
from its competitors
To create identification and brand awareness
To guarantee a certain level of quality and satisfaction
To help with promotion of the product
Holensen (2007) further states that these purposes have the function of creating new
sales (take market shares from competitors) or to create a demand for repetitive sales
(to get loyal customers).
According to Kotler and Keller (2006) a brand can also give signals of a certain quality
of the product. Brand loyalty can create barriers of entry to other companies because
the brand is placed in the consumers’ minds and it can create competitive advantage
and a willingness to pay a higher price. It creates brand identity through its brand name,
but also teaches the customers what the product does and why the customer should
choose that specific product (ibid).
According to Xie and Boggs (2006), branding means more than just naming a product;
brands are a result of market segmentation and product differentiation.
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2.3. Importance of a brand
A brand has several functions as stated above. Furthermore, brands are important, and
the reasons for that will be discussed below. Kotler and Keller (2006) state that a brand
is needed because it identifies the product, and the responsibility of the product hence
lies in the hands of the makers or producers of the product. After a customer has been
in contact with the brand and the product through its marketing activities, the customer
has created a perception of the brand. After that, the brand can be identified by the
customer (ibid).
The increasing growth of globalization has forced companies to consider the
importance of branding (Xie & Boggs, 2006). Wong and Merrilees (2007) state that
branding has a remarkable potential for international marketing. According to Kotler
and Pfoertsch (2007) brands are gradually more vital for companies in just about all
industries since customers face a great number of different suppliers. Hence, the
need for companies to differentiate themselves through branding is very important
(ibid).
Czinkota and Ronkainen (2004) state that brands are important because they ―shape
customer decisions and, ultimately, create economic value‖. Brands are important in
both consumer and business-to-business situations, where a decision of purchase is
needed. A strong brand can create sufficient higher total returns to shareholders than a
weak brand (ibid).
2.4. Value of a brand
Branding is important because of different reasons, and furthermore it generates value
in different ways. Czinkota and Ronkainen (2004) state that a strong brand allows the
company to take advantage of the brand awareness in other new markets as well,
because the brand might be known in countries where the brand has no physical
activity.
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Kotler and Keller (2006) mention that a strong brand creates higher profits
which in turn create higher value for the shareholders.
Motameni and Shahrokhi (1998) state that new brands in a global marketplace have a
tiny chance of competing against established brands, and creating a brand from scratch
involves enormous investments. The return on the investments spent on branding is
converted into brand awareness, image and loyalty and the concept summarizing the
value of the brand is referred to as brand equity (ibid). According to Keller (2007)
different marketing programs must be created to satisfy different market segments in
building brand equity:
Differences in consumer behavior have to be identified
The branding program has to be adjusted accordingly through the choice
of brand elements, the nature of the actual marketing program and activities,
and the leveraging if secondary associations.
2.5. Concept of branding
The original meaning of the word branding derives from the American Wild West,
many years ago. At this time there were no fences to separate the cattle from one ranch
to another. This meant that, the farmers would burn their symbol or brand into the skin
of the cattle, to be able to differentiate and determine the owner (Pickton & Broderick,
2005:243).
The concept of branding is today still about differentiating; the term however
encompasses a wide ranging phenomenon, which as it will be shown, affects both
customers and employees. There are several different views and approaches to
branding, but in order to make this thesis comprehensible, only a few issues of the
branding concept will be presented.
In (Pickton & Broderick, 2005:243), Aaker defines:‖ ―A brand is a distinguishing name
and/or symbol (such as a logo, trademark, or pack design) intended to identify the
goods and services of either one seller or a group of sellers and to differentiate those
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goods or services from those of competitors‖. Other theorists talk about branding as a
promise the company gives to the customer. Common for all definitions of branding is
however, that it is about differentiation and creating preference in the minds of the
customer.
When discussing branding, theorists often refer to two overall strategies; product and
corporate branding. Product branding, is building separate brand identities for different
products a company produces, so that a company can have more than one brand to sell.
In corporate branding the products and the brand have the same name, meaning that
when you brand a product or service, the whole company is being branded.
Traditionally product branding has been more practiced, but in recent years a change
toward corporate branding has been seen. The concept of corporate branding is much
more complex than product branding, as the organizational values, and the added
values to the brand, function as the core for the corporate branding (Xie & Boggs,
2006).
2.6. Branding identity and image
There is much literature and definitions of brand identity and image. For example the
image can be said to be the current perception an audience has of an organization and
can be defined as: ―The result of all the experiences, perceptions, knowledge and
associations people have of a brand‖ (Larsson, 1997:95). To continue Melin (1999)
describes brand identity as the image an organization wants their product to portray,
what makes it unique and that the identity is becoming increasingly important in
explaining a brand’s success. By Lagergren (1998), the identity is the expression or the
message and the image is the result of the branding efforts and how the target audience
perceives the message, or the brand. However, since this thesis is investigating a
service and not a product, we wanted to make it clear that we are talking about a
corporate brand. Furthermore, when referring to a corporate brand the whole
organization from top to bottom and across different areas is involved in realizing the
brand. A successful corporate brand is formed between the interrelation of strategic
 15 

vision, organizational culture and the corporate images held by its stakeholders (Hatch
& Schultz, 2001) therefore, organizational identity plays an important role in corporate
branding.
Brown et al., (2006) define organizational identity as what is portrayed as core, central,
enduring and distinctive about the character of the organization. Moreover they define
identity, intended image, constructed image and reputation as terminology that can be
applied to both the individual or organizational levels. For them identity is the mental
associations about the organization held by organizational members who answer the
viewpoint of: ―Who are we as an organization?‖ To continue Brown et al., (2006),
defines Intended image as the mental associations about the organization that
organization leaders want important audiences to hold and has the viewpoint of: ―What
does the organization want others to think about the organization?‖ When an
organization tries to change the intended image but the identity does not follow, the
organization is faced with multiple identities. The company should strive to have one
voice, and thus this difference in image and identity is critical, and a major hazard of a
corporate rebranding (Gotsi & Andriopoulos, 2007).
Constructed image is the mental associations that organizational members believe
others outside the organization hold about the organization and has the viewpoint of:
What does the organization believe others think of the organization? And finally
Reputation is the mental associations about the organization actually held by others
outside the organization and has the viewpoint of: What do stakeholders actually think
of the organization?‖ (Brown et al., 2006).
The organizational identity can be explained by using the identity prism proposed by
Kapferer (2004). The identity prism divides the identity in to six facets: physique,
personality, culture, relationship, customer reflection and self image .These facets
define the identity of a brand as well as the boundaries which it is free to change or
develop. The physique is the tangible part of the brand and it is made of a combination
of either salient objective features or emerging ones. The personality, is another facet

 16 


of the brand identity, and is the way it speaks of its products and services; by looking at
the communication it can be known what kind of person it would be if it was a human.
Moreover, another facet in identity is culture; it means that the brand has a set of values
and principals governing it, culture has an essential role differentiating brands because
it indicates the ethos whose values are in the products and services of the brand. To
continue a brand is a relationship; because, brands have exchanges with people, this
facet defines the mode of conduct that most identifies the brand; therefore, having a lot
of implications in how the brand relates and acts to its customers. Also a brand is a
customer reflection; the brand will tend to build a reflection or an image of the buyer or
user which it seems to be addressing; reflecting is the result of how the customer
wishes to be seen as a result of using the brand. And finally a brand speaks to our self-
image; it’s the targets own internal mirror, with it we develop a relationship with
ourselves and promoting a brand reflects a sense of alliance with it.
Since there are numerous definitions of organizational identity and image, we will
henceforth be using the terminology proposed by (Brown et al, 2006). To reach the
purpose, it is necessary to research the mental associations the organizational leaders
want important stakeholders to have, called the Intended image, and furthermore the
actual associations held by the organizational members called the Identity.
2.7. Rebranding
According to Gotsi & Andripoulos (2007) a gradual modification of the positioning
and representation of the corporate brand, is a natural aspect of managing the brand in
response to the ever changing market environment. However as mentioned in the
problem statement, it is a matter of definition when to distinguish a change in the
corporate brand as a rebranding. The chosen definitions for this thesis will be presented
below.
The word rebrand is a neologism developed by the two words re and brand. Re implies
―again‖ and brand being the name or symbol that differentiates a company. (Muzellec

& Lambkin, 2006:805) characterizes a rebranding as: ―The creation of a new name,