On October 19, The Verge reported that Facebook intends to change the company name to reflect its new ambitions, although Facebook has yet to confirm this information. Besides owning a popular global social network, the California-based company (USA) also owns Instagram applications, WhatsApp, produces virtual reality glasses Oculus and will soon invest heavily in metaverse plans. (virtual universe).
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Changing the company’s name will help other Facebook brands get rid of the notoriety |
“Lawmakers and politicians are smart enough not to be fooled by rebranding,” said James Cordwell, an analyst at Atlantic Equities.
“Rebranding can be an effective strategy, allowing sub-brands to maintain their reputation,” said Marisa Mulvihill, head of branding at marketing consulting firm Prophet. However, regulators will not stop investigating and demanding Facebook reform.
Specifically, the name change will help Facebook’s bad reputation not affect other products such as WhatsApp – currently has nearly 2 billion users globally and Oculus virtual reality glasses are seen as the future of the metaverse.
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Based on Prophet’s annual ratings, Facebook’s trustworthiness has plummeted in the eyes of American users in recent years.
Deborah Stafford-Watson, chief strategy officer at brand consulting firm Elmwood, shares a similar view with other industry experts. “They don’t want (the bad reputation) to spread and have a negative effect on other parts of the business,” the person said.
Marisa Mulvihill cited the case of tobacco company Philip Morris, which changed its name to Altria Group after owning the food brand Kraft Foods in 2003. This move helped Kraft Foods to grow, free from the scandals about tobacco. Philip Morris’s influence.
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