What’s in a Name?
Apparently not much, even though brand and name recognition are still ballyhooed as the be-all and end-all.
Perhaps you’ve heard, but have you seen the ads for Ally Bank? Sounds like a nice bank to do business with, right? I mean, what better ally to have than a bank?!
Interestingly, the new Ally Bank is the artist formerly known as GMAC—the financing arm of the now bankrupt and TARP-funded General Motors. For their marketing team it’s no brainer strategy; but in our transparent world, the truth eventually outs itself.
Do you suppose anyone gives a damn? Is our screwed threshold so high that this type of subterfuge doesn’t bother us? Incidentally, adding insult to injury, Ally Bank’s theme line is “Straightforward.”
So, how about a little more BS? Another financial institution decided it too would change its name to avoid the stigma of being perceived as a company that doesn’t know much about managing its business. Remember A.I.G.? The insurance company “too large to fail”? It appears they figured if they changed just one letter in their name we might feel better about them. Today A.I.G. is A.I.U. Really clever repositioning.
The gold medal winner for name changes is the Bank of Wichita. In an apparent effort to get down with their customers, they changed their name to Redneck Bank. I kid you not.
Hey you know what? I’m feeling like I need a little overhaul myself. I think I’ll chuck this feeble Loose Change moniker, along with all the lame columns I’ve penned.
From here on out call me Big Bucks.
Yeah, I like that.


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