I was at a mall over the weekend and while many stores were bustling, there was one that looked bare. That store was Radio Shack. It seemed odd to me, given the proliferation of electronic goods and their desirability as a holiday gift, but Radio Shack was not the beneficiary of this coalescence.
I wonder if it is because of its name. “Radio” is about as dated as they come.
I think about all the businesses that have had to officially change their name to remain relevant. Blockbuster Video dropped the “video” part. Apple Computer became Apple, Inc. Standard Oil Company became Exxon. International Business Machines became IBM. New York and New England Telephone became Verizon. State teachers colleges became universities.
Is your name limiting your scope or holding you back from the market you want to serve today? Is it time for a rebranding to allow you to remain current going forward? Good or bad, your name communicates a lot about you. Take care to ensure that your message is still relevant.
— beth triplett