After years of building recognition, the company known as “I Love Rewards Inc.,” has changed its name to “Achievers Inc.” It is an employee rewards and social recognition company. The founder of the company, Razor Suleman, felt that renaming was a “value proposition” necessary to further expand the company into the States. Mr. Suleman wants to ensure that he unifies his company into one brand.
According to Al Ries and Jack Trout, the two famous authors on brand positioning, they
argue that changing a company’s name could potentially confuse consumers with other brand names and make them lose the image of the company. The question is now whether “Achievers Inc.,” has done the right thing to change its name to one that the company believes to be more “malleable” in capturing the global outlook.
However, it is uncertain if consumers will react positively to its new name or will, as Ries and Trout predicted in their theory, be confused with other brand names or forget about what the company is about. Whether Achievers Inc can manage to achieve its purpose of making its brand more recognizable will be under examination for some time.