Scenario: This client, a major retailer of computer hardware and software, was about to acquire a company that had developed a specialized “virtual inventory” system for outbound direct sales to corporate buyers. The acquisition brought about an entire re-thinking of the company brand, its perceptions in the marketplace, and its existing brick-and-mortar business model. The VP of marketing approached Rocket Science to assist him in two strategic areas:

1. Assess the risks and benefits of changing the company name
2. Explore new business models to possibly replace its storefront retail operations

Approach: Rocket Science approached these strategic questions with two different methodologies:

To measure current brand equity and perceptions, and to calculate the impact of changing the company name, we designed a quantitative telephone survey of customers and prospects. Survey data was then analyzed using multivariate statistics to map brand perceptions and to segment the market into sub-markets that responded to the brand differently.

To explore and evaluate new business models that leveraged the strengths of the organization, Rocket Science facilitated a brainstorm with key company executives. Prior to the meeting, we researched innovative business models and performance statistics, and wallpapered a conference room with visual examples and stimuli. We led participants through a creative SWOT analysis of the company, solicited new business ideas, identified an “owner” for each proposed idea, developed a short-list of models to research further, and assigned specific action items for follow-up strategy meetings.

Result: The survey data on the company brand was used not only to assess the equity overall, but also to calculate market size and potential attrition after re-branding. The results convinced our client that entrenched perceptions regarding its current brand would not allow it to expand into other business areas that promised greater growth, and so they decided to adopt the acquired company’s brand as the new corporate umbrella identity. The brainstorm meeting that we facilitated yielded four viable new business directions for the company to pursue.