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Assignment Task

Acknowledgement
I am presenting my dissertation titled, “Corporate Rebranding” as my graduation project. There are some people who have played an enormous role in the success of this thesis. I intend to take this opportunity to acknowledge the same. 
Firstly I convey my deepest gratitude to my project supervisor RAHMAN Mahabuburwho has provided me with adequate guidance and knowledge which was valuable to my project. I covey my thanks as I was significantly mentored by my project supervisor. I learned a lot from the supervisor and my experience working under my supervisor was greatly educational. 
I intend to thank my teachers and instructors who have taught me during the course, as the knowledge I gained, enabled me to successfully complete the project. I had a holistic learning experience and significant guidance from my teachers. I thank all my tutors from the bottom of my heart for their immense support. 
I must acknowledge the role my batch-mates have played during the course. The journey on which we embarked together would not be the same, if not for my batch-mates. They have been a positive influence on me and hopefully, I have to them. 
Finally, I express my heartfelt gratitude to my parents who have played the greatest role in all walks of my life. My parents have supported me all my life and I am deeply grateful to them for that.  
Abstract
This research entails an in-depth understanding of the various factors which are associated with corporate rebranding. Corporate rebranding has been deemed to be one of the ways for brands to regain their market acceptance and achieve business goals. However, from observations of various companies operating in various parts of the globe, it can be said that corporate rebranding often has mixed effects on the company. In some cases, corporate rebranding is observed to have had a positive effect on the company. In other cases, corporate rebranding is seen to have a negative effect on the companies. There are many instances of failed corporate rebranding whereby the company has actually lost money after rebranding. Therefore, there are some important aspects that are to be considered while rebranding a company. The barriers to rebranding must also be taken into consideration which would make the process more streamlined. 
1. Introduction
Business environment and practices have gone through a complete evolution in the past decade. Currently, the businesses in the international market are striving to mark their presence in a VUCA business environment. It is imperative for businesses to adopt different marketing strategies in order to gain a competitive edge over others and also to enhance the growth and profitability of the businesses.CorporateRebranding is a marketing strategy often adopted by various corporate to establish a clearer brand image, survive the competition, and renew the organizational culture, expand the area of operation, and target new business segments. The report shall contain a detailed discussion on the concept of rebranding and how it helps in bringing about an organizational change in the company leading to its growth and profitability. 
Background
A business creates a name for itself and increasesits profitability by creating its own brand (Joseph et al., 2020). Branding is a marketing strategy, which if used properly can create value for the company and influence and attract customers towards the company.

There are different branding strategies that have a positive impact on the financial performance of the company (Jain, Sneha, and Kumar, 2018). But in order to survive the competition companies are engaging more and more incorporate rebranding. Companies often realize the need of developing a fresh brand image, a catchy but flexible name that would fuel their prominence in the market and help to bring a change in the organization and overall performance. Rebranding helps them in achieving the desired results and meeting their objectives. The process should involve the investors too for their valuable insight in this regard.
Purpose of the research
The purpose of the research is to trace the impact of rebranding on the performance of the company. To arrive at the conclusion a number of case studies have been read. The research helps to investigate how the company acquires customers through rebranding which finally makes an impact on the financial performance and also overall performance of the company.  The research further aims to trace whether or not corporate rebranding affects the companies positively or negatively. In addition, theoretical underpinnings should also be traced which would allow for efficient analysis of the company data which shall be collected. 
Research Aim
The aim of the research endeavor is to trace the importance of corporate rebranding on the performance of the company.
Research Objectives
The objective of this research endeavor is:
• To trace the impact of corporate rebranding on the financial performance of the company
• To investigate how corporate rebranding leads to disruption of the organization.
• To find out the impact of Corporate Rebranding on the market expansion of the company
• To trace how corporate rebranding streamlines customer acquisitions.
Research Hypothesis
There are many companies that have undergone major corporate rebranding; however, there have hardly been any effects on the company’s financials. Therefore, it can be said that there is a possibility that a corporate rebranding may not have any effect. Therefore the null hypothesis in this regard shall be as follows:
H0: Corporate rebranding has no significant impact on the performance of the company. 
Considerable argumentation would be necessary in this regard in order to develop a hypothesis. Corporate rebranding is chosen by the companies when there is a need for changing the outlook of the companies. There are many instances where rebrands have been greatly successful and the companies have achieved significant levels of profitability after a successful rebrand. A notable instance in this regard is that of Burberry. This UK based company had to rebrand itself owing to the image it had developed in the market. Therefore, the company changed its logo and some of the marketing techniques. The problem associated with the company before it was rebranded was that the clothes produced by Burberry were perceived to be “gang-wear”. In other words, it was perceived by the consumers to be meant for a specific segment of customers and not for all. The styles and designs lacked features acceptable to a sophisticated society. Therefore, it was important to change this notion with effective rebranding and after a change in their logo and active marketing campaigns by famous British stars like Emma Watson, the notion about the brand changed. This was in turn reflected in their net income and revenue. 
Another case of successful rebranding was that of dominos. Being accused of photographic manipulations, Domino’s went through a major shift in its strategy and admitted to the tricks it used. The logo was also changed considerably. In the mid-2000s the company lost a significant number of customers however after rebranding in 2009, the revenue increased by approximately 14.3% in the first quarter of 2010. Between December 2009 and December 2010, the stock prices of Domino are increased by 130%. 
Accenture was rebranded from the company named Anderson Consulting. The net income of Accenture is currently $5.19 billion. However, as of 2000, the year when Andersen Consulting was rebranded as Accenture the net revenue from all sources amounted to $8.4 million. The rebranding was necessary in light of the unethical attempts made by the company to hide losses from the annual reports. Therefore in this case the revenues increased positively after corporate rebranding.  
Taco bell initiated its rebranding strategy with an aim to become a $15 billion brand by the year 2022. Therefore the aim of the company was clear and as an added step towards corporate rebranding, Taco-bell opened more than 2000 global restaurants. The financial implications of the rebranding are important in this regard, rebranding allowed the company to generate revenue of $1.988 billion in the year 2015. 
The above argument leads to the development of the first hypothesis which is as follows:
H1: Corporate rebranding improves the financial performance of a company 
In sharp contrast,there are many companies that were not successful in rebranding and which caused significant issues. GAP is one such example, and the change in the logo of GAP was not well accepted by the audience. It was speculated that the rebrand was an attempt at a crowd-sourcing campaign. The company had to bring back its original logo within about six days of rebranding, as it was not accepted well by people. 
Pepsi attempted to undergo a corporate rebranding which was again met with a negative response. The amount of money spent on the rebrand was approximately $1M. There was extensive social media backlash after the logo was changed, however, the company kept the logo even though it was not initially accepted. 
The instance of Tropicana is also notable with regard to failures at corporate rebranding attempts. Tropicana changed its packaging in 2009 along with the logo. The initial strong brand logo which was instantly recognizable was replaced with a packaging that was not acceptable and ruined the image of the brand. The brand was perceived as providing fresh fruit juice however the new packaging diminished this image. This caused the brand to lose a substantial audience as well. 
The cases of failures at corporate rebranding lead to the formulation of the second hypothesis of the research which is as follows:
H2: Corporate rebranding causes the financial performance of the company to deteriorate
Research Questions
• Is the impact of corporate rebranding positive in the financial performance of a company?
• Is the impact of corporate rebranding negative on the financial performance of a company?
Brief literature review
Rebranding is a market strategy that allows the corporate to create a new image for them in the market. It helps the companies to design and develop new products for specific target customers. The companies gain a competitive advantage and thereby achieve sustainability in business.

Rebranding has a number of functions that include analysis of the company environment, the setting of goals and various marketing strategies, creating a target market, expanding the company, and many more(Titi and Anang, 2018). The case studies of Ghana oil, Sun chip, Tobacco, Geneo, Preppy, and many more reveal that rebranding has brought about a sea change in the operations of the company as also the profitability of the business.

It has contributed in increase the brand awareness of these companies and has confirmed their missions and strategies. It has helped them in standing ahead of the competition. The different reasons that lead to rebranding are lack of emotional attachment of the customers with the brand, innovation of new fashion and customer trends (Manikandan and Anurekha, 2019), lack of trust of the customers in the brand, mergers or takeovers, and most important removal of stereotype practices associated with the products and brand of the company. 
Research methods
The research endeavor shall base its findings on secondary data sources. The secondary data sources that shall be used in this research endeavor are books, journals, articles, case studies, and various websites. These sources have been immensely helpful in finding and analyzing the data relating to the causes and effects of rebranding and also how it impacts the financial performance of a company. The philosophy that shall be used to conduct the research is interpretivism (Curry, 2020), the research approach of which shall be inductive approach (Liu, 2016) This philosophy and approach answer the research questions appropriately and helps in attaining the objectives of the research endeavor.Some articles shall be evaluated which has made use of the difference in differences analysis and the same shall be used in the research. 
Limitations of the research
The scope of the particular research endeavor may be limited by some completely unexpected events like the unavailability of relevant resources. Another limitation may be the development of the research on non-updated data that may lead to inaccurate results.The research may be limited and may also take up a lot of time if it is not conducted in a planned and organized manner.
Ethical considerations
The ethical considerations have been kept in mind in conducting the research approach where due permission has been taken before collecting any information which has limited access to the public. No harm has been caused to any human or any animal in the course of conducting the research. Due permission has been obtained from the companies for studying and using their data in this research and also for making the same public.
Conclusion
This chapter of the research has been able to introduce the topic of the research quite explicitly along with the clear definition of the scope and limitations of the same. It also has a background that serves as a base for the entire discussion of the research topic. The chapters that follow shall mention a literature review on the topic and findings obtained from different sources of data, its analysis, and results that shall assist in understanding the topic of the research in-depth.

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