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In the beginning of the year 2008, CEAT Ltd., amidst its
Golden Jubilee celebrations announced the replacement of
its age-old mascot, a Rhino with `Raising the Bar' logo
(Refer Exhibit 1). CEAT is one of the India's leading automotive
tyre manufacturers, supplying tyres for scooter, motorcycles,
passenger cars, light commercial vehicles, heavy commercial
vehicles, tractors, mining and other vehicles across 110
countries of the world. Since the inception of the company,
it has used Rhino because it connoted the toughness of its
tyres. Nowadays, toughness is not as prominent a factor
in the Indian tyre industry as it used to be in 1980s because
of improvement in the quality of roads and use of better
technology in the vehicle. As a result of the feedback program
of CEAT, and based on the opinions given by employees, customers
and shareholders, CEAT decided to go for rebranding. In
the new logo of CEAT, the lines in orange color are intended
to give a youthful and contemporary look and gel well with
the maturity and stability of the blue colored letters that
indicates CEAT's affluent heritage in the sector.
In the recent years, the world has witnessed a number of
rebranding attempts of several domestic, as well as multinational
corporations in almost all the industries across the globe.
Today, market has become highly competitive as so many companies
are offering products with similar features to the same
group of customers. Customers' needs and wants are changing
constantly and they expect a better product or improved
service every time they make a purchase.
Brand managers understood it very well that the well-established
brand image can help a company to ensure sustainable competitive
advantage over its competitors. In this backdrop, corporate
rebranding has emerged as one of the most powerful tools
that believe in changing corporate identity by changing
label, logos, brand design, punch line and advertising with
a purpose to give fresh image to the companies.
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