Facebook is RENAMING, Not Rebranding.
Robert L. Williams, Jr., Ph.D.
Strategically differentiate to achieve growth: WICresearch.com; Mar-Kadam Associates; Marketing Professor; GastroGatherings.com
According to Renaming Transition Methodology (RTM), a name change from Facebook to Metaverse is categorized as a Radical Substitution renaming, NOT a rebranding. Of course the company will engage in some rebranding activities.
"Branding through Renaming for Strategic Alignment in Service Organizations", (Williams, 2012).
It is the result of both a substantial Change in Positioning and Change in Branding, within the "Brand Flux Model" (Williams, 2012).
The Brand Flux Model is defined as “The adaptation by management to environmental challenges, to modify an organization’s branding and/or positioning, via revitalization, refocusing, and/or renaming.”
As part of the Renaming Process Model (RPM), this renaming signifies completion of 7 of the "Eight Principles of Renaming", with only the Roll-out Activities still to come (Williams, 2012).
“The RPM Depicts the decision points and factors that impact corporate renaming. The framework depicts the importance of aligning the firm-based brand identity, the customer-based brand image, and the employee-based brand soul. It also incorporates the Principles of Renaming and Renaming Transition Model.”
In Facebook/Metaverse's case, this was motivated by one of two main Motivation Drivers: as Williams (2012) notes: "...the name was a misperception, a barrier, a negative association, or in some way too difficult an obstacle to overcome through strategic repositioning or rebranding... (Muzellec and Lambkin, 2006; Turner, 2003)".
How can I say this? I’m Williams, and it’s from my Ph.D. thesis.
If you're interested in more, read on, and contact me.
I help companies successfully rebrand | Principal at Brands Applied
4yGreat article. I didn't realize you had these methodologies/frameworks. The 5 Rs! So, just to be clear, Facebook has developed an umbrella identity that is a "house of brands," like Google did with Alphabet? Makes sense, but frankly the Metaverse kind of scares me.