CLEAR CHANNEL 4
Brandingemerges as an important aspect, and it involves more than just havinga logo or graphics of business. When a corporation thinks about theprocess of branding, it has to put into consideration the entire ofthe customers’ experience. So, this may include but not limited tothe services offered and the satisfaction associated with the brandthat the business is providing. One of the benefits of branding isthat it helps in promoting brand recognition. This is due to thereasoning that people desire conducting businesses with corporationsthat they are familiar with individuals will likely feel secure inpurchasing or using a brand that they have heard about or seen beingadvertised (Vincent, 2012). Also, the process of branding helps inputting a company apart in terms of competition.
Sometimesa company may feel that it wants to change its way of operations bygiving customers an increased experience in such a scenario, anorganization can rebrand. This form of rebranding is critical ingiving customers direction, as well as motivating them to use theservices provided by the entity (Vincent, 2012).
Inthe case of Clear Channel, one of the reasons for rebranding itsbusiness to iHeartMedia was to give direction to its customers on thestrategy it has taken (Yu, 2014). The corporation realized that, inthe changing society, most listeners desire to listen to most of theprograms online. This being the case, the corporation had to changeits strategy in order to fit the changing trends. Therefore, in anattempt to communicate to its customers on its new strategy andmotivate them to go according to the company’s new form, it had torebrand.
Anotherreason why the corporation rebranded its business was to ensure thatit was in a position to sustain the competition in the market (Yu,2014). It is the desire of every business to remain competitive inthe place of operation by ensuring that it gives customers what theydesire or anticipate having. Also, an entity has to put intoconsideration services that it is not providing, but are beingprovided by the rival companies in the target market. The corporationrealized that there was an increase in competition in the industrysince most of the firms were offering online programs, which was theexpectation of most customers. This made the corporation considerchanging its way of presenting programs to the listeners in order tomaintain the rivalry in the industry.
Thereason for the company adopting the name iHeartMedia was to reflectthe expansion as well as the influence of the iHeart brands (Yu,2014). The name was a way of showing the company’s commitment toproviding the most entertainment to the majority of audiencesregardless of the place that they go. Also, it was a way of depictingto the listeners the change in the entity’s content on differentdevices (Yu, 2014). Thus, the name mirrored a powerful message to thelisteners concerning the direction and content of the organization.
ClearChannel rebranded to iHeartMedia to give direction to its customerson the strategy it had taken. The corporation realized that, in thechanging society, most listeners desire to listen to most of theprograms online. The other reason was to maintain competition in theindustry. The company changed its name so as to show its customersthe commitment towards providing more services.
Vincent,L. (2012). Brandreal: How smart companies live their brand promise and inspire fiercecustomer loyalty.New York: American Management Association.
Yu,R. (2014). ClearChannel changes name to iHeartMedia.USA Today.