Businesses renew their image with a brand repositioning strategy

The value of the brand

Nearly four decades ago, in 1988, the concept of brand equity was first officially listed in the audit portfolio of a British company and accounted for 59% of the company's total assets. Later, American branding guru David Aaker introduced the brand equity model and the brand identity building model.

Many businesses decide to reposition their brands when facing milestone development stages.

Brand equity is a set of intangible assets associated with a brand's name and symbol that add or subtract from the value of a product or service to a company and its customers.

David Aaker

In the era of technology 4.0, brands play an extremely important role in the strategy of creating business success. For brands to become assets, companies must work hard to build pillars of loyalty, brand awareness, perceived quality, brand association and other asset values. When the brand name, symbol, slogan, company logo and product are remembered by customers, it means that the company has succeeded in building brand assets. However, these assets are not constant but increase and decrease. Marketing experts believe that no matter how successful a business is, at a certain point, a business's brand needs to change to suit the new development strategy. And at this time, businesses need to reposition their brands to strengthen loyalty and increase awareness of these changes.

Why do businesses rebrand?

In early 2024, TNG Holdings Vietnam, a multi-industry corporation, officially announced its new name, ROX Group, along with a new brand identity. This is part of the company's brand repositioning strategy.

Ms. Nguyen Thi Nguyet Huong - Chairwoman of the Board of Directors of the Group at the moment of announcing the ROX Group brand

Accordingly, ROX Group positions itself as a multi-industry investment group, a pioneer in creating convenient values ​​for life through the ecosystem of Urban Development and Industrial Parks, Services, Finance; reputable for its capacity to implement large-scale domestic and international projects. The Group's mission in the new development phase is "Convenient Creation". The name ROX has two meanings. First, ROX means the cornerstone - representing strong certainty, the foundation that the enterprise inherited after nearly 30 years of building from the first faltering steps. Second, ROX means excellence - representing the spirit of always moving forward, overcoming all difficulties and obstacles to reach the pinnacle and perfection. The new logo includes the brand name ROX and the convenient flower created by 4 orange-yellow V letters, forming a solid rectangular frame, forming a unified - strong - inseparable entity. Along with the launch of the Group's new brand, ROX Group also simultaneously deployed a new brand strategy for its member units. For example, TNG Realty changed its name to ROX Living; TNCons Vietnam changed to ROX Cons Vietnam; TNG Asset changed to ROX Asset; TNG Capital changed to ROX Capital. For many businesses, in the past, trademark registration was not given much attention. However, in the 4.0 world , brands and trademarks appear a lot in the mass media. This poses a problem for businesses on how to affirm their own brand mark. It is known that the important reason leading to the decision to reposition the brand of ROX Group is due to the inability to register trademark protection in the fields being invested in, both domestically and internationally, under the name TNG. ROX Group representative said: Changing the name from TNG Holdings Vietnam to ROX Group shows the professionalization in copyright and brand protection in particular and the general brand strategy of the enterprise in the new business context. The new brand is a combination of past foundation and current strength, of sustainable development and innovation. According to experts, not being able to protect the brand will hinder the enterprise's long-term development. This is also a lesson for start-ups: it is necessary to create a protective shield for the brand right from the start-up stage in an increasingly competitive environment. The process of transferring the brand will create a gap in the minds of customers. Enterprises will spend more time and money to fill this gap. However, if calculating the long term, repositioning will help brands go faster and further in the 4.0 era.

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