―IMPACT OF CORPORATE REBRANDING ON CONSUMER

BEHAVIOR :- AN INDIAN PERSPECTIVE‖

A PROJECT STUDY SUBMITTED IN PARTIAL FULFILLMENT FOR

THE REQUIREMENT OF THE TWO YEAR (FULL-TIME) POST
GRADUATE DIPLOMA IN MANAGEMENT 2009-2011

BY

Saurabh Debnath

48 / 09

UNDER THE GUIDANCE OF

(Ms. Smita Sharma)

LAL BAHADUR SHASTRI INSTITUTE OF MANAGEMENT, DELHI

March 2011

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 LAL BAHADUR SHASTRI INSTITUTE OF MANAGEMENT, DELHI

Plot No.7, Sector-11, Dwarka-110075

Dated……………

CERTIFICATE

Certified that _______________ has successfully completed Project Study

entitled ―________________________________________‖ under my
guidance. It is his / her original work, and is fit for evaluation in partial
fulfillment for the requirement of the Two Year (Full-Time) Post Graduate
Diploma in Management.

(Name of the Guide

with Signature)

ACKNOWLEDGEMENT

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The satisfaction and euphoria that accompany the successful completion of a task is
incomplete without mentioning the names of those who provided their support and help in
making it a success.

A project is a result of lot of efforts put in by many people directly and indirectly. I would
like to express my gratitude to all those who gave me the possibility to complete this task.

I would like to express my heartfelt gratitude to my guide, Ms. Smita Sharma, Assistant
Professor, Lal Bahadur Shastri Institute of Management, for her constant guidance, support,
valuable feedback and timely suggestions for corrective actions. She has been the guiding
light for this project. At the end I would like to like to express my thankfulness for the
opportunity to work on this project and hope that the findings will lead to some relevant
outcomes for companies who would be going for Corporate Rebranding.

CONTENTS

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 Title Page no.
1. Executive summary 5

2. Introduction 6

3. Objectives 11

4. Review of literature 12

5. Rebranding of Airtel and Videocon 18

6. Model of study 21

7. Methodology 22

8. Observations and results 23

9. Conclusions 43

10. References 45

11. Annexure 1 – Questionnaire 49

12. Annexure 2 - 56

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1. EXECUTIVE SUMMARY

The title of my end term project is ―Study of Corporate Re-branding and its impact on
Consumer Behavior – An Indian Perspective‖. Basically I divided the objectives of the study
into three subparts which are – effect of rebranding on brand equity, effect of rebranding on
Corporate brand personality and effect of rebranding on financials of the company. The two
companies which I selected for the study are Bharti Airtel and Videocon. The study included
both secondary as well as primary research.

Strong brand equity has become a very important factor that influences consumer‘s
perceptions of a brand. Success in brand management arises from understanding and
managing brand equity correctly to produce strong attributes that will influence consumers
when making their choices.

The first part of this project focuses on the importance of these dimensions (brand awareness,
brand loyalty, brand association and perceived quality).

The second part of the study deals with brand personality. Whenever a company undergoes
rebranding it wants to shed its earlier brand personality and form a new corporate personality.
This part of the study shows how Airtel and Videocon have tried to change their brand
personality.

The third part of the study is actually the most important one as it shows whether the
rebranding has any positive effect on the stakeholders and the financials of the company per-
se.

A structured questionnaire was constructed to provide answers to the research question.. The
questionnaire had five dimensions namely brand awareness, brand association, perceived
quality, brand loyalty and corporate brand personality.

After a proper sampling plan had been devised, one hundred questionnaires were distributed,
but only sixty four useable questionnaires were realized. This data was, analyzed, and the
findings and recommendations were submitted in the form of a report.

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2. INTRODUCTION

A brand is a valuable asset, communicating a clear set of values to its stakeholders.

Rebranding, by definition, must be seen as a serious strategic decision, requiring careful
planning. Corporate rebranding - where sometimes a long-held brand name is discarded -
would seem to challenge fundamental axioms of marketing.

Although a dictionary definition of ‗rebranding‘ might convey the notion of branding

performed a second time (the meaning of ‗re‘), rebranding in current business literature is
commonly used to indicate that the brand is reborn, a slightly different concept. It could be
argued that this only occurs when the name itself is changed; however, the concept of
corporate rebranding is also associated with changes in the logo and slogan. Hence there is a
continuum in corporate rebranding from a revolutionary change incorporating the three
elements of name, logo and slogan, to an evolutionary change, which involves the slogan or
logo only.

The types of changes made by corporate rebranders fall into three categories — name, logo
and slogan changes.

The permutations possible in corporate rebranding are:

— name plus logo

— name plus logo plus slogan

— logo only

— logo plus slogan

— slogan only

Many companies undergo rebranding exercises and at least some of these are undertaken in
the belief that the company in its current guise is misunderstood in the marketplace. A change
of name and/or logo and slogan is perceived as a strategy which will herald a new beginning
for the organisation, with a marvelous chance to create a positive new image.

Corporate rebranding, however, particularly in cases where an organization attempts a

revolutionary change to the underlying corporate identity, appears to contradict what has
been regarded as standard marketing practice for product brands — that is, that building and
maintaining strong brands over a long time and consistently supporting them will result in
sales, market share gains and customer loyalty. Additionally, the cost is significant, even for
small changes in the visual identity, since the cost of repainting company livery and retail
outlets, printing new stationery, making changes to the website, and so on, must be taken into
consideration. Corporate rebranding as a strategy is also evaluated, as are the organisational
issues involved in getting the company‘s employees and other stakeholders to accept the new
brand.
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In doing so it concentrates on the following. First, it views rebranding as a continuum, from
revitalizing a current brand to a full name change involving alterations in brand values and
promises. Second, it outlines four approaches to renaming a corporate brand. It then presents
a case history. Finally, a corporate rebranding framework is proposed to help companies
manage the rebranding process.

Corporate brands are believed to be most effective when they sustain a high level of
coherence over time and across stakeholders. Coherence across stakeholders is achieved by
reducing the gaps between internal and external perceptions of the corporate brand, or
between actual and communicated values Coherence over time is maintained through years of
sustained investment in a brand name.

In recent years however, industry restructuring and changing market dynamics have led many
companies to change their historical corporate name and adopt new brand architectures.
Dispensing with a well-established corporate brand name seems at odds with the idea that
corporate brand equity is built on corporate heritage Modifying the brand architecture also
unsettles the foundations of the corporate brand. From a well-known branded house, built on
core values and history, the corporation is adopting a contrived corporate name disconnected
from the company‘s heritage and brand portfolio.

Objectives of Rebranding –A company can rebrand for different reasons. Main purpose for a
company to go in for process of Rebranding can be many. Some of them are as follows: -

 To create a sound strategy supported by facts related to sales and profit.

 To increase consumer loyalty
 To refresh consumers
 To enter new market trend and new product direction
 To increase share holder value
 To refresh design elements or slight naming alteration
 To attain competitive differentiations
 To re energize a company

Challenges of Rebranding-

To successfully build a brand...is to communicate your key value proposition to the key
customer segment in an integrated and consistent way." The three most common catalysts for
misguided Rebranding are: new executives trying to make their mark, the need for instant
gratification trumping long term commitment, or organizational malaise/boredom.

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Top 20 mistakes marketers make while Rebranding- and How to avoid them. Smart
marketers evolve their brands over time to keep them relevant. Some do it well, while others
become the target of clinical bogglers. To gear you‘re next rebrand for success, side step
these all too common mistakes:

1. Clinging to history- Rebranding well means staying relevant. Assumptions made when the
brand was established may no longer hold true. Analyze changes in target markets when
exploring opportunities for Rebranding.

2. Thinking the brand is the logo, stationery or corporate colors-Brand encompass everything
from customer perception and experience to quality, look and feel, customer care, tone and
voice of communication and more.

3. Navigation without a plan- Effective rebrand relies on a creative brief to keep everyone
focused as the project progresses. Include section for a situation analysis, objectives, target
market, budget and resources, time frame, point person, known parameters, approval
structure, stake holders and metrics for assessing results.

4. Refusing to hire a branding consultant without industry experience- Smart companies

recognize the value of a fresh perspective. It‘s ok to consider an agency that hasn‘t worked in
your specific industry before.

5. Not leveraging existing brand equity and goodwill- Consider the needs and mindset of the
target market carefully before digging into the process. Sometimes a small evolution or a new
coat of paint is all that‘s needed to rejuvenate and make a brand relevant.

6. Not trying on your customer‘s shoes- Take the time to navigate your own website, buy
your products and return something. Better yet, ask a friend family member to do so and learn
from their experiences. Simply calling your receptionist can never reveal challenges
customers face and inform your Rebranding strategy.

7. The rebrand lacks credibility or is a superficial facelift- The rebrand story must be
believable given the existing brand experience and customer perception. It must also hold
credibility internally. If employees who live the brand day to day don‘t believe, the target
audience won‘t either.

8. Limiting the influence of branding practice- good branding consultants are more than
graphic designers. The best ones help develop new products expand demographic focuses and
even streamline business operations. Rein them in when needed, but don‘t limit their areas of
influence.

9. Believing Rebranding costs too much- Good thinking does not have to come with a multi-
million dollar payout. You can get good thinking and solid strategy from small and talented
branding agencies, consultants and in-house talent. Consider university students or small
firms for cost-effective results.

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10. Not planning ahead for adaptation – its tempting for team members to walk away after
final presentation, however his is just the beginning of the final stretch. The implementation
process may require adaptation as the rebrand rolls out the. Acknowledge the need to keep
the team and consultants together throughout implementation.

11. Bypassing the basics- The value of perfecting your physical environment, marketing
materials, website, etc., is decreased if your customers languish on hold for inordinate
amounts of time. If your invoices and contracts are written in 7-point legal jargon, the brand
experience declines. Keep all customer touch points in mind when rebranding.

12. Not calling the call center -Often ignored in brand strategy sessions, customer service and
other front-line staff can yield valuable information. This is the proverbial buck – the place
where customers are the most honest, no matter what research indicates.

13. Forgetting that people don‘t do what they say- (They do what they do.) Use caution when
basing rebranding strategies on focus group-type research. Unless you‘re physically in the
customer ‘s environment observing them using your product or service, you‘re not getting the
full story. Actual observation, while not perfect, will get you a lot closer to the right solution.

14. Getting strong-armed or intimidated by consultants- It‘s the client's responsibility to reel
things in when necessary. You still know the most about your brand and organization, the
value of a non-immersed, fresh perspective notwithstanding.

15. Putting the wrong person in charge -Assuming you‘ve hired capable-to-outstanding
branding consultants, the quality of the work delivered depends on sound, knowledgeable
project management. Make sure your internal point person has the skills, time and resources
to drive the agency to its most effective work yet.

16. Strategy by committee- Too many opinions delay the rebranding process and diffuse the
focus needed to achieve ROI. Keep those with critical approval authority to an efficient
shortlist, and assemble the smallest, most essential project team possible. Include a mix of
levels – not just executive.

17. Rebranding without research- There‘s a lot of lip service about customers, but in brand
strategy sessions they‘re often forgotten. Current and prospective customers should be front
and center when creating solutions. After all, the customer will be your ultimate test.

18. Basing, rebranding on advertising- An ad campaign and a slogan do not equal brand
positioning. Brand strategy should lead advertising – not the other way around. Sometimes
the most effective rebrand don‘t include traditional advertising.

19. Tunnel focus-Focusing solely on your own industry can be limiting. When rebranding,
cross-pollinate your thinking with what leaders in other industries are doing in regard to
customer experience, retail experience and customer care. Pull in thinking from different
industries and encourage your agency to do so.

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20. Believing you‘re too small to rebrand. Every brand needs refreshing to stay relevant as
markets evolve. Smaller companies and non-profits are not immune. Like larger brands, they
too have brand positions that need to be enhanced. Define your brand or be defined.

Thus it is very important for companies to rebrand very carefully so that they do not commit
these mistakes. In my research I have studied recent rebranding exercises of Bharti Airtel and
Videocon and tried to assess whether they have been able to justify their decisions of
rebranding.

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3. OBJECTIVES

 to find and critically assess the effect of ‘ corporate rebranding’ on ‘brand awareness’
in case of Airtel and Videocon

 to find and critically assess the change in ‘ brand associations’ , in case of Airtel and
Videocon, ‘pre and post rebranding’

 to find and critically assess the effect of ‘ corporate rebranding’ on ‘perceived quality’
in case of Airtel and Videocon

 to find and critically assess the effect of ‘ corporate rebranding’ on ‘brand loyalty’ in
case of Airtel and Videocon

 to find and critically assess the effect of ‘ corporate rebranding’ on ‘Corporate brand
personality’ in case of Airtel and Videocon

 to find and critically assess the effect of ‘ corporate rebranding’ on ‘financials ’ in case
of Airtel and Videocon

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4. REVIEW OF LITERATURE

Different conceptualisations of brand equity have been measured by various researchers.

Aaker (1991) view brand equity as a multidimensional concept which is made up of
perceived qualities, brand loyalty, brand awareness, brand association and other propriety
assets. According to him, Brand loyalty has to do with the level of devotion a consumer
has to a brand. Brand awareness has to do with the ability of a potential buyer to identify
a brand among a product category. Perceived quality deals with the consumer‘s
perception of the brands total quality or superiority. Brand association is anything that is
connected in a consumer‘s memory of a brand. The other proprietary brand asset has to
do with patents and trademarks. A similar conceptualization was proposed by Keller
(1993). According to Keller (1993), consumer based brand equity consist of two
dimensions, brand knowledge and brand awareness.

Cob-walgren et al (1995) based their study on customer based perceptual measure of brand
equity. Their study adopted three of Aaker (1991) perceptual component of brand equity i.e.
brand awareness, brand association and perceived quality. They tested whether brand equity
has an affect on brand perception, intention and attitude. The result of their study found out
that brand equity has effect on perception, intention and attitude.

Low and lamb Jr (2000) and Prasad and Dev (2000) also adopted four of Aaker (1991)
component i.e. brand awareness, perceived quality, brand loyalty and brand association.

Yoo et al (2000) adopted three of Aaker (1991) component i.e. perceived quality, brand
association and brand loyalty. Their study suggested and tested a model and the result
revealed that these dimensions contribute to brand equity.

Yoo and Donthun (2001) employed four of Aaker‘s component of brand equity i.e. brand
awareness, brand loyalty, perceived quality and brand association excluding proprietary
assets dimension as it is not important in the measurement of customer based brand equity.

Despite the large number of alternative proposed in the literature, no single measure is ideal.
There is no concession on the strengths or weakness of each. Simon and Sullivan (1993)
claim that the best method for measuring brand equity depends on the objective market based
data which give room for comparison overtime and across firm. According to them, using
preferences and consumers attitude is wrong as a result of their individual subjectivity.
Farquhar 1989 and Criminis (1992) stated that some marketers also concluded that while
brands do add values to various components, it is the consumers who first determine brand
equity.

Therefore, for the purpose of our study, customer based brand equity will be based on Aaker
(1991 1996) conceptualization i.e. brand awareness, brand loyalty, perceived quality and
brand association. Brand association here is referred to as brand image i.e. the set of
associations that are connected to the brand which are easily retained in customer‘s memory.

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Brand awareness
Brand awareness can be referred to as the degree of consumers‘ familiarity with a brand.
Aaker (1991) and Keller (1993) stated that brand awareness is a vital element of brand equity.
According to Rossiter and Percy (1987), brand awareness is the ability of consumers to
distinguish a brand amongst other brand. Keller (1993) conceptualized brand awareness as
comprising of brand recall and brand recognition. He went further to say that brand recall is
the ability of consumers to remember a brand from their mind when the product class is made
know.

Keller (1993, p. 3) argued that ―brand recognition may be more important to the extent that
product decisions are made in the store‖. Rossiter et al (1991) noted that brand attitude and
intention to purchase a product can only be developed through brand awareness.

According to Aaker (1991 p.62), there are three levels of brand awareness:

 Brand recognition: It is the ability of consumers to identify a certain brand amongst

other i.e. ―aided recall‖. Aided recall is a situation whereby a person is asked to
identify a recognized brand name from a list of brands from the same product class.

 Brand recall: This is a situation whereby a consumer is expected to name a brand in a

product class. It is also referred to as ―unaided recall‖ as they are not given any clue
from the product class.

 Top of mind: This is referred to as the first brand that a consumer can recall amongst a
given class of product.

Many researchers have seen brand awareness as an element that plays a vital role in
consumer‘s choice of brand. In Lin and Chang (2003), the result of their study established
that brand awareness had the most powerful influence on consumers purchase decision.

Hoye and brown (1990) as cited by Lin and Chang (2003) their study examined the
importance of brand awareness in consumers decision making process and they found out
that brand awareness was a primary factor. Also Jiang (2004) found out in his study that
brand recognition influences consumer‘s choice.

Brand association

Engel Blackwell and Miniard (1993) referred to brand image as the combined effect of
brand association or consumers perception of the ―brands tangible and intangible
association‖. Keller (1993) see brand image as a perception or association consumers form as
a result of their memory concerning a product. According to Low and Lamb (2000 p.352),

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brand image can also be referred to as the emotional perception or reason that consumers
place to a particular brand.

Thus, brand image does not exist in the features, technology or the actual product itself, it is
sometimes brought out by advertisement, promotion or users. Brand image enables a
consumer to recognize a product, lower purchase risks, evaluate the quality and obtain certain
experience and satisfaction out of product differentiation.

Marketing researchers such as Keller (1993) have proposed that brand image is an important
element of brand equity. Krishnan (1996) found out that brands with high brand equity are
prone to more positive brand associations than those with low brand equity. Also Lassar et al
(1995) found out that brand with high brand image rating always have higher brand equity
and premium price. Conclusively, Kwon (1990) reported that positive brand image is mostly
likely associated with preferred brands.

Researchers have proposed that brand equity is to an extent driven by the brand association
composition of the image. According to Keller (1993), favorable, unique and strong
associations are assumed to provide a positive brand image which will create a bias in the
mind of consumers thereby increasing the brand equity. Pitta and Katsanis (1995) also stated
that a unique, favorable and strong brand image allows the brand to be easily differentiated
and positioned in the consumers mind, thereby adding to the possibility of increased brand
equity.

Conclusively, brand image can be said to be the brand association or consumer‘s perception
about a particular brand as a result of their association with the brand.

Perceived quality
According to Aaker (1996) and Keller (1993,1998), perceived quality is a core dimension of
customers based brand equity as it relates to the willingness to pay a price premium, brand
choice and brand purchase intention.

Low and Lamb Jr (2000) referred to perceived quality as the perception of the superiority of a
brand when compared to alternative brand. Zeithamal (1998) defined perceived quality as
consumer‘s judgment about the whole product superiority or excellence. According to
Szymanski and Henard (2001), one of the antecedents of satisfaction is perceived quality.
Like brand association, perceived quality provide consumers with value and give them reason
to differentiate a brand from another.

Justified by Researchers such as Carman (1990), Parasuraman et al (1985, 1998), perceived

quality can said to have a positive effect on customers purchase intention. Although there are
inconsistencies on the available empirical evidence for example, Boulding et al (1993)
considered service quality as one of the factors leading to purchase intention. In Cronin and
Taylor (1992) as cited by Juan Carlos et al (2001) direct effect was not significant whereas

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there was an indirect effect which rose from satisfaction. Taylor and Baker (1994) speculated
that perceived quality liked with satisfaction has an effect on consumers purchase intention.

Therefore, perceived quality can be said to be consumer‘s perception of the superiority of a

brand which enables them to differentiate a brand from another.

Brand loyalty
According to Aaker (1991, p39), brand loyalty is ―the attachment that a customer has to a
brand‖. Yoo and Donthun (2001) also referred to brand loyalty as the tendency to be loyal to
a brand and this can be shown by the intention of the consumer to buy the brand as a
foremost choice.

Oliver (1999, p. 34) also defined brand loyalty as ―deeply held commitment to re-buy or re-
patronize a preferred product/service consistently in the future, thereby causing repetition of
same-brand or same brand set purchasing, despite situational influence and marketing efforts
having the potential to cause switching behaviors‖.

Odin et al (2001) stated that brand loyalty can either be behavioral or attitudinal. Behavioral
loyalty comprises of repeated purchases of the brand. According to Dekimpe et al (1997), one
advantage of this is that it measures observable behaviours rather than self reported
deposition or intention. It is easier and cheaper to measure.

According to Chaudhuri and Holbrooks (2001), attitudinal loyalty can be referred to as the
extent of dispositional promises with respect to some particular advantages connected with
the brand while behavioral loyalty has to do with the intention to repeat a purchase.

Although, the definition of behavioral brand loyalty deals with consumer‘s sincere loyalty to
a brand as shown in purchase choice, the definition based on attitudinal perspective stresses
on consumers intention to be loyal to the brand. It is presumed that consumers understanding
of quality will be associated with their brand loyalty. As the more loyal a consumer to a
brand, the more he/she is presumed to see the brand as a superior quality and vice verse.
Also, the more favorable association‘s consumers have towards a brand, the more their
loyalty and vice versa.

Aaker (1991 2002) classified loyalty as follows:

 Non- customer: these are people who buy the brands of competitors.

 Price switcher: these are the once that are sensitive to price.

 Passive loyal: these once are purchase brand/product as a result of habit rather that
reason.

 Fence sitters: are those that are indifferent between several brands.

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  Committed: are those who are honestly loyal to the brand.

Kotler also classified loyalty to include switchers, soft-core, hard-core loyal and shifting loyal

So far, we have been able to connect the views of various researchers that address the issue of
consumer based-brand equity. From our readings and what we have been able to gather, we
will like to state here that consumers base brand equity have influence on consumers
perception of brand. Favorable perceptions of quality are more presumed to be developed by
consumers who hold a favorable association toward a brand.

Further more, consumers brand awareness is presumed to be high when they have strong
association and perceived quality of the brand and vice versa.

Thus, consumer‘s perceptions about the quality of a brand are presumed to be high when they
have strong association with the brand and vice versa.

Corporate character scale

In marketing and organisational theory, the personification metaphor has been widely used in
developing measurement scales (Martineau 1958; Aaker 1997; Davies and Chun 2003).
Brand personality is ―the set of human characteristics associated with a brand‖ (Aaker 1997).
Although the definition – and subsequently the Brand Personality Scale (BPS)- has been
recently challenged (Azoulay and Kapferer 2003), brand personality remains the foremost
construct used to characterize, compare and evaluate brand values and attitudes. In this
project, brand personality is used as a proxy for the external perceptions of the brand, i.e. the
brand image. Recently, a new scale has been set up in order to study corporate images
(Davies, Chun et al. 2001; Davies, Chun et al. 2004). The Corporate Character Scale (CCS) is
an appropriate instrument for this study as it is a European instrument that tested all items
included in the BPS. The CCS has been successfully used to assess product and corporate
brand image (Whelan 2004). The items used in the data collection are from the CCS. The
CCS is made of 49 traits that are aggregated around 7 dimensions: Agreeableness, Enterprise,
Competence, Chic, Ruthlessness, Machismo, and Informality.

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 5. Rebranding of Airtel and Videocon

Rebranding of airtel

Airtel‘s new avatar is just not a rebranding exercise but to truly represent its new global
presence and get to new crowd.

After acquiring Zain Africa (African operations of Mobile Telecommunications Company),

Warid Telecom in Bangladesh, its mobile operations are now available in 19 countries and
reigns over 200 milllion customers. It has indeed become a a global telecommunications
company, and to mark its global presence the company has unveiled a new identity.

Airtel crossed 50 million customers in October 2007 and 100 million in May, 2009. The
company added the next 100 million customers in just 18 months. In this growth rate, Airtel
should find a place in world‘s leading telecom companies.

New Airtel logo Vs Old Airtel logo :

.
.

The company is still sticking to RED + WHITE combination for its corporate theme, and it
continues to be good. I like the stylish ―A‖ in the logo.

If you haven‘t seen the the spinning graphics which forms the ―A‖ in the logo, head on to
airtel.in. Its becoming a trend to place iconic designs in the logo on top of the text and
relatively bigger. Have a look at some of the newer telecom companies or companies which
had a recent rebranding.

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Company has come up with a new logo design and signature tune, and it will spend Rs 300
crores globally to market it. The new logo does not have the capital ‗A‘, but the red colour
will still be dominant in the new brand. The red colour, of the brand, continues to represent
heritage, energy and passion.

Rebranding of videocon

Born in the year 1987 and founded by Shri Nandlal Madhavlal Dhoot, Videocon - ―The
Indian Multinational‖, also known as the „desi‟ brand is one of the most favourite among
Indians in terms of electrical appliances. It knows its people from their nerves as both share
the same roots. From many years, Videocon has been nurturing Indian homes and ruling the
hearts of the people. The company has always served the country with the latest technology
and environment friendly features, that too at affordable prices. Its popularity among Indians
makes it the major shareholder of the electronic industry. Videocon has been one of the
longest surviving Indian international consumer durables and electronics brand. But over the
years, brands like Hitachi, Panasonic, Samsung etc are aggressively promoting themselves as
ECO-FRIENDLY brands and gaining the market share. Also, demographically, the Indian
consumer is getting younger and these brands are mainly targeting the youth. Hence, to
prevent the onslaught from these global brands, Videocon went ahead with a change in its
identity and repositioned itself in the minds of consumer with a brand new logo. This case
study analyses the change in the brand identity of Videocon. How has it developed and what
brought the change?

Videocon is now rebranding itself and has shed its solid steel 'V' for a more fluid, lava like
'V', coupled with a new proposition – 'Experience change'. The brand, which has been in
existence for more than two decades, has managed a fair share in the entry/middle product

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segment. It is perceived as a brand for the Indian middle class -- no frills, no glamour, simple,
reliable and hassle-free. This rebranding exercise is being read as cues of Videocon making
forays into the premium segment. Prior to this, the brand has banked on other propositions,
such as 'Technology for health and pleasure', 'Bring Home the Leader', 'New Improved Life',
'The Indian Multinational', 'Whatever role life gives you, play it big', as well as the most
recent one, 'Eco Logic for sustainable life'. This change in brand identity and repositioning
was due for quite a longtime for two reasons. First, Brands like Hitachi, Panasonic, and
Samsung etc are aggressively promoting themselves as ECOFRIENDLY brands. Hence
sooner or later Videocon had to put itself on the GREEN TURF to survive the onslaught of
these global brands. Second point is REPOSITIONING: We all know, India is the
YOUNGEST NATION on the globe with approx 52% of population around 25 years of age.
This makes it the most viable and sensible to target the audience in this younger age group.
Such legacy brands have to constantly reinvent themselves to be relevant to their consumers.
Their positioning should be such that they are equally aspirational to the next three
generations, as they are to those generations that grew up using the brand. The 'V' in the new
Videocon logo is composed of two animated green, lavalike shapes – called Chouw and
Mouw, which are 'live' characters and will be used to tell simple stories through a series of
short videos. Both have certain personality traits, Chouw is the kind hearted one and Mouw,
the more mischievous one. And together, they send out the message that if you put your heart
and mind together, anything can be achieved. Videocon has also aimed at a brand make-over
targeting the young customers who have a new global mindset. The new Logo is an inverted
Triangle symbolizing energy. The colour chosen is green – symbolising regeneration, fertility
and rebirth for its connections to nature. This is the heart of the new brand identity. The two
animated characters Chouwand Mouw are created to present a very vibrant and interactive
image representing the change Videocon brings into the lives of its customers, through
innovation in its product lines, by offering great value, and by delighting its customers with
superlative products and services.

20
6. MODEL OF STUDY

21
7. METHODOLOGY

Primary research

For the purpose of this study, the samples were selected judgementally from an age group of
28 to 40 years of age. The age group was selected so such that each respondent was aware of
the brand even before rebranding was done. A total of 64 responses were collected.

The respondents were exposed to a set of advertisements and recall aids like logo, brand
ambassador etc. that were associated with a brand before rebranding. They were asked to
answer a set of questions based on it. Thereafter the same set of audiences were shown the
clues and advertisement of the two brands after rebranding and again they were asked to
answer a set of questions. A copy of the questionnaire is attached in the Annexure of the
report.

Likert scale was used to measure the responses.

The data was analysed using SPSS version 14. Paired t – test was applied to study if there
was a significant difference in the various elements of brand associations attached to the two
brands.

Secondary research

For this purpose the annual financial statements of the two companies were studied before
and after rebranding was done. t-test was applied to study if there is a significant difference in
mean before and after rebranding.

22
8. OBSERVATION AND RESULTS

AIRTEL

I. Brand awareness
a. Response on attractiveness of ‗ new brand logo‘ of Airtel

AIRTEL: ATTRACTIVENESS OF LOGO

7% 5%

strongly disagree
24%
disagree
33%
neither agree nor disagree
agree
strongly agree

31%

b. Response on attractiveness of ‗new tagline‘ of Airtel

AIRTEL: ATTRACTIVENESS OF TAGLINE

STRONGLY DISAGREE

11% 26% DISAGREE

17%
14% 32% NEITHER AGREE NOR
DISAGREE
AGREE

STRONGLY AGREE

23
II. Perceived Quality

PERCEIVED IMPROVEMENT IN QUALITY: AIRTEL

Chart Title
30

25

20
Axis Title

15

10

0
NEITHER
STRONGLY STRONGLY
DISAGREE AGREE NOR AGREE
DISAGREE AGREE
DISAGREE
SERVICE QUALITY 16 26 7 11 4
RELIABILITY 8 19 16 12 9
RESPONSIVENESS 8 10 21 18 7
EMPATHY 4 15 14 19 12
CONSUMER EXPERIENCE 10 14 13 20 7

24
III. Brand Loyalty
a. Responses to improvement in likelihood to repurchase Airtel products after
rebranding

LIKELIHOOD TO REPURCHASE:AIRTEL

STRONGLY STRONGLY
AGREE DISAGREE
18% 15%

DISAGREE
22%
AGREE
35%

NEITHER AGREE
NOR DISAGREE
10%

b. Responses to improvement in likelihood to recommend Airtel products after

rebranding

LIKELIHOOD TO REPURCHASE:AIRTEL

STRONGLY STRONGLY
AGREE DISAGREE
18% 15%

DISAGREE
22%
AGREE
35%

NEITHER AGREE
NOR DISAGREE
10%

25
IV. Brand association

a. H1 : Post rebranding Airtel is associated with having a younger brand image

Although there is high and significant correlation between the responses towards ―
youngness‖ as an element of brand association pre and post branding, yet a paired sample t –
test reveals a significant difference in the means of the responses pre and post rebranding.

In this case the hypotheses H1 is not rejected and it can be concluded that airtel is associated
with having a younger image than before.

b. H2: Post rebranding Airtel is associated with having a happier brand image

26
 There is no significant correlation between the responses towards ―happiness‖ as an element
of brand association pre and post branding. A paired sample t – test also does not reveal any
significant difference in the means of the responses pre and post rebranding.

In this case the hypotheses H2a is not accepted and it can be concluded that airtel is no more
associated with having a happiness image than before.

c. H3: Post rebranding Airtel is associated with having a more vibrant brand
image

Paired sample t – test reveals a significant difference in the means of the responses pre and
post rebranding.

In this case the hypotheses H3 is not rejected and it can be concluded that airtel is associated
with having a vibrant image than before.

27
 d. H4: Post rebranding Airtel is associated with having a more international
brand image

There is no significant correlation between the responses towards ―being international‖ as an

element of brand association pre and post branding. A paired sample t – test reveals a
significant difference in the means of the responses pre and post rebranding.

In this case the hypotheses H4a is not rejected and it can be concluded that airtel is
associated with having a more international image than before.

e. H5: Post rebranding Airtel is associated with having a fresher brand image

28
Although there is high and significant correlation between the responses towards ― freshness‖
as an element of brand association pre and post branding, yet a paired sample t – test reveals
a significant difference in the means of the responses pre and post rebranding.

In this case the hypotheses H5 is not rejected and it can be concluded that airtel is associated
with having a fresher image than before.

f. H6: Post rebranding Airtel is associated with having a more emotional brand
image

There is a significant inverse correlation between the responses towards ― emotional

attachment‖ as an element of brand association pre and post branding, a paired sample t – test
reveals a significant difference in the means of the responses pre and post rebranding.

In this case the hypotheses H6 is rejected because there is inverse correlation and emotional
appeal was higher before rebranding than after.

29
V. Corporate Brand Personality

AIRTEL - CORPORATE BRAND PERSONALITY

before rebranding after rebranding

Honest/socially
responsible
4.5
3.42
4
3.5 2.59
Easy going/ carefree
3.77 3 3.88
Innovative/ daring
2.5 3.21
2.66
2
1.5
1
0.5
0

3.56
3.67
Tough/ rugged 3.31
3.4 Reliable/ambitious

1.77

2.89

Arrogant/controlling Stylish/exclusive
3.91
4.11

30
VI. Financial analysis of Airtel

Event Study:- This is used to calculate the effect of rebranding of airtel on the returns of its
share.To calculate this I have taken Airtel returns from 1st Jan, 2009 to 19th Oct, 2010. This
was regressed against BSE return so as to arrive at a regression equation where Airtel‘s return
is the predicted variable and BSE‘s return is the predictor. Following is the result from that:

SUMMA
RY
OUTPUT

Regressio
n
Statistics

Multiple
R 0.045553

R Square 0.002075

Adjusted
R Square -0.00014

Standard
Error 4.03727

Observati
ons 452

ANOVA

Significa
df SS MS F nce F

Regressio 15.251 15.251 0.9357

n 1 85 85 22 0.3339

7334.7 16.299
Residual 450 96 55

7350.0
Total 451 48

31
 Standa
Coefficie rd P- Lower Upper Lower Upper
nts Error t Stat value 95% 95% 95.0% 95.0%

- -
0.1907 1.0004 0.3176 0.1840 0.565 0.1840
Intercept -0.19086 68 7 21 -0.56576 49 76 49

-
X 0.1094 0.9673 0.3209 0.109 0.3209
Variable 1 0.105878 55 27 0.3339 -0.10923 84 23 84

Equation derived from this is used to calculate the expected return of Airtel till 10th Feb,2011.

This is compared with the actual return and abnormal return is calculated.

T statistic is calculated by dividing average of abnormal returns with standard deviation.

Mean 0.190162

s.d 2.107058

t
statistic 0.09025

Positive and significant value of t statistic indicates that stock market reaction rebranding has
been positive.

32
Videocon:- data analysis

I. Brand awareness
a. Responses to attractiveness of logo of new logo of airtel

VIDEOCON: ATTRACTIVENESS OF LOGO

6%

14%
STRONGLY DISAGREE
38%
DISAGREE
9% NEITHER AGREE NOR DISAGREE
AGREE
STRONGLY AGREE

33%

b. Responses to attractiveness of new tagline of airtel

VIDEOCON:ATTRACTIVENESS OF TAGLINE

8%
28% 15%
STRONGLY DISAGREE
DISAGREE
13%
NEITHER AGREE NOR DISAGREE

36% AGREE
STRONGLY AGREE

33
 II. Perceived quality

PERCEIVED IMPROVEMENT IN QUALITY:

VIDEOCON
30
25
20
Axis Title

15
10
5
0
NEITHER
STRONGLY STRONGLY
DISAGREE AGREE NOR AGREE
DISAGREE AGREE
DISAGREE
SERVICE QUALITY 9 14 9 22 10
RELIABILITY 11 13 10 16 14
RESPONSIVENESS 6 4 10 24 20
EMPATHY 6 8 9 22 19
CONSUMER EXPERIENCE 5 7 4 25 23

III. Brand loyalty

a. Likelihood to repurchase increased due to rebranding

LIKELIHOOD TO REPURCHASE: VIDEOCON

5%

16%
32% STRONGLY DISAGREE
DISAGREE
NEITHER AGREE NOR DISAGREE
12%
AGREE
STRONGLY AGREE

35%

34
 b. Improved Likelihood to recommend Videocon after rebranding

LIKELIHOOD TO RECOMMEND VIDEOCON

13%

29%
STRONGLY DISAGREE
16% DISAGREE
NEITHER AGREE NOR DISAGREE
AGREE
9% STRONGLY AGREE

33%

IV. Brand associations

a. H1 : Post rebranding Videocon is associated with having a younger brand

image

Although there is high and significant correlation between the responses towards ―
youngness‖ as an element of brand association pre and post branding, yet a paired sample t –
test reveals a significant difference in the means of the responses pre and post rebranding.

35
In this case the hypotheses H1 is not rejected and it can be concluded that videocon is
associated with having a younger image than before.

b. H2: Post rebranding videocon is associated with having a happier brand image

Paired sample t – test reveals a significant difference in the means of the responses pre and
post rebranding.

In this case the hypotheses H2 is not rejected and it can be concluded that videocon is
associated with having a happier image than before.

c. H3: Post rebranding Airtel is associated with having a more vibrant brand image

Paired sample t – test reveals a significant difference in the means of the responses pre and
post rebranding.

36
In this case the hypotheses H3 is not rejected and it can be concluded that videocon is
associated with having a vibrant image than before.

d. H4: Post rebranding videocon is associated with having a more international

brand image

There is no significant correlation between the responses towards ―being international‖ as an

element of brand association pre and post branding. A paired sample t – test reveals a
significant difference in the means of the responses pre and post rebranding.

In this case the hypotheses H4a is not rejected and it can be concluded that videocon is
associated with having a more international image than before.

e. H5: Post rebranding videocon is associated with having a fresher brand image

37
Although there is high and significant correlation between the responses towards ― freshness‖
as an element of brand association pre and post branding, yet a paired sample t – test reveals
a significant difference in the means of the responses pre and post rebranding.

In this case the hypotheses H5 is not rejected and it can be concluded that videocon is
associated with having a fresher image than before.

f. H6: Post rebranding Airtel is associated with having a more emotional brand
image

There is no significant correlation between the responses towards ―emotional attachment‖ as

an element of brand association pre and post branding. A paired sample t – test also does not
reveal any significant difference in the means of the responses pre and post rebranding.

In this case the hypotheses H2a is not accepted and it can be concluded that videocon is no
more associated with having emotional attachment than before.

V. Financial Analysis

I have applied T Test so as to see the effects of rebranding on the financials of the company.

Null Hypothesis is that there is no significant difference for all the factors taken pre and post
rebranding.

38
Alternate hypothesis is that there is a significant difference.

Following are the factors which were analysed fromm 2008 to 2010.

Salest Turnover

operating Profit

EPS

Cash Flows

Current ratio

Debt Equity ratio

ROCE

Net Worth

Total Debt

Total Assets

39
Following is the result of T test:

T- value is significant for just one factor that is EPS.

So I reject the null hypothesis for EPS, that is , there is a significant difference between EPS
pre and post rebranding.

40
Following chart shows the value of EPS:

EPS

40
35
30
25
20 EPS
15
10
5
0
2008 2009 2010
year

41
VI. Corporate Brand Personality

VIDEOCON -CORPORATE BRAND

PERSONALITY
before rebranding after rebranding

Honest/socially
4.1
responsible
4.5
4
3.5 2.67
Easy going/ carefree
3.65 3 Innovative/ daring
3.66
2.88 2.5
2 2.16
1.5
1
0.5
0
2.13
3.67
Tough/ rugged 3.23.78
Reliable/ambitious

2.44
2.52 2.32

Arrogant/controlling Stylish/exclusive
3.98

42
 9. CONCLUSIONS

Brands are much more than simply a name or a logo. They represent values and promises,
attitudes and feelings about brands and products. They are recognised as major assets which
may have taken years of investment to establish. Rebranding, that is changing such an asset,
should not be undertaken without careful planning. Kotler (2003) probably means rebranding
when he includes enhancing brands as a distinctive skill of professional marketers
and goes as far as saying that 'branding is the art and cornerstone of marketing'.

Rebranding may be presented on a simple continuum from minor changes, such as restyling,
to complete renaming.
The rebranding of videocon was a carefully developed rebranding strategy. The integrated
communications element of that strategy, importantly aimed at both its external and internal
customers, has been outlined. It was a key success factor in Videocon's rebranding strategy.

Corporate rebranding does affect consumers‘ perceptions of the corporation but does not affect
consumers‘ perceptions of the product. Interaction between product image and corporate image
are limited except when the corporation bears the same name as the product.

Overall Videocon came up as a more fresh, vibrant and energetic brand in lieu with its
competitors and going by the responses as well as financial analysis we can conclude that
rebranding of Videocon was a very successful one.

On the other hand Airtel too has somewhat improved its brand personality but one can say it is
too early to judge the results of rebranding. The responses are pretty divided from primary as well
as secondary study and the financials indicate that overall ther ha been a positive reaction from
the shareholders.

43
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48
11.ANNEXURE 1:QUESTIONNAIRE
Questionnaire

Instructions

1. This questionnaire is meant for research purpose and hence you are requested to give
your honest and personal opinion in the questions asked.
2. For a matter of record please enter your name in the allotted space. If you wish a copy
of this research report to be sent to you then please enter your contact no. and email
id. also.
3. Please be assured that your identity will not be revealed in any case.

Name :

Gender :

Contact no. :

Email id. :

Thank you in advance for sparing your valuable time to fill this questionnaire.

49
 Questionnaire on rebranding of Airtel

A. Brand Awareness
1. Have you heard about the rebranding of Airtel?
2. Do you find the new logo more attractive
Strongly Disagree Neither Agree Strongly
disagree agree nor agree
disagree

3. Do you find the new tagline more relevant

Strongly Disagree Neither Agree Strongly
disagree agree nor agree
disagree

B. Brand Association
1. Rate Airtel Brand before rebranding based on following parameters
Very Low Medium High Very
low high
Young
Happy
Vibrant
Eco-
friendly
International
Fresh
Emotional
2. Rate Airtel brand after rebranding based on following parameters
Very Low Medium High Very
low high
Young
Happy
Lively
Eco-
friendly
International
Fresh
Emotional
C. Perceived Quality
Do you find any improvement in Airtel with regards to
Strongly Neither Agree Strongly

50
 disagree Disagree agree nor agree
disagree
Service quality
Reliability
Responsiveness
Empathy
Consumer
experience

D. Consumer Loyalty
1. Has your likelihood to purchase/repurchase increased?
Strongly Disagree Neither Agree Strongly
disagree agree nor agree
disagree

2. Has your likelihood to recommend the brand increased? (if you have used the
brand previously)
Strongly Disagree Neither Agree Strongly
disagree agree nor agree
disagree

E. Corporate Brand Personality

1. Rate the Airtel brand personality before rebranding
Very Low Medium High Very
low high
Honest/socially
responsible
Innovative/ daring
Reliable/ambitious
Stylish/exclusive
Arrogant/controlling
Tough/ rugged
Easy going/ carefree

2. Rate Airtel brand personality after rebranding

Very Low Medium High Very
low high
Honest/socially

51
responsible
Innovative/ daring
Reliable/ambitious
Stylish/exclusive
Arrogant/controlling
Tough/ rugged
Easy going/ carefree

52
 Questionnaire on rebranding of Videocon
A. Brand Awareness
1. Have you heard about the rebranding of Videocon?
2. Do you find the new logo more attractive
Strongly Disagree Neither Agree Strongly
disagree agree nor agree
disagree

3. Do you find the new tagline more relevant

Strongly Disagree Neither Agree Strongly
disagree agree nor agree
disagree

B. Brand Association
1. Rate Videocon Brand before rebranding based on following parameters
Very Low Medium High Very
low high
Young
Happy
Vibrant
Eco-
friendly
International
Fresh
Emotional
2. Rate Videocon brand after rebranding based on following parameters
Very Low Medium High Very
low high
Young
Happy
Lively
Eco-
friendly
International
Fresh
Emotional
C. Perceived Quality
Do you find any improvement in Videocon with regards to
Strongly Neither Agree Strongly
disagree Disagree agree nor agree

53
 disagree
Service quality
Reliability
Responsiveness
Empathy
Consumer
experience

D. Consumer Loyalty
1. Has your likelihood to repurchase increased?
Strongly Disagree Neither Agree Strongly
disagree agree nor agree
disagree

2. Has your likelihood to recommend the brand increased?

Strongly Disagree Neither Agree Strongly
disagree agree nor agree
disagree

E. Corporate Brand Personality

1. Rate the Videocon brand personality before rebranding
Very Low Medium High Very
low high
Honest/socially
responsible
Innovative/ daring
Reliable/ambitious
Stylish/exclusive
Arrogant/controlling
Tough/ rugged
Easy going/ carefree

2. Rate Videocon brand personality after rebranding

Very Low Medium High Very
low high
Honest/socially
responsible
Innovative/ daring

54
Reliable/ambitious
Stylish/exclusive
Arrogant/controlling
Tough/ rugged
Easy going/ carefree

55
12.ANNEXURE 2 - RECORDS OF MEETINGS

Project Study
(Records of Meetings with the Project Guide)

M Date Purpose Remarks Signature

eet (Project
ing Guide)
#

56