A sample of a marketing assignment: From North Shore-LIJ to Northwell Health
As a student you are expected to be aware of how rebranding affects the marketing campaign of a given organization. As a matter of fact you might be required to work on a case study focusing on this aspect. Presented below is a sample of a marketing assignment.
Question 1: A sample of a marketing assignment: From North Shore-LIJ to Northwell Health
Rebranding is a fundamental strategy for any organization that seeks to increase its sales and achieve global relevance. The main reason behind changing the name from North Shore-LIJ to Northwell Health was to reflect the hospital’s growth from a regional entity to an international business. The original name only represented two hospitals while there were 16 other ventures under the facility’s umbrella. Evidently, the organization had substantially grown by establishing an insurance company as well as nursing and medical schools. The rebranding was a necessity to reflect the company’s robust growth and a diverse workforce. Additionally, the system’s geographical expansion strategy into other regions and its affiliations to healthcare providers must have necessitated the rebranding of the organization. After the renaming, Northwell Health appealed to the majority as a global company rather than a local one. As such, trading in the global market became easier. Again, adopting a strong brand name promotes sales and creates an opportunity to enter into expansion agreements with other healthcare providers.
The initial efforts to rebrand the company began in 2008,although at a sluggish momentum. Discussions on the same continued for an extended time as there were numerous challenges,especially from the management and the organization’s culture. In 2011, a consultancy firm was hired to oversee the rebranding process. In 2013, another company, Monigle Associates of Denver, was hired. Later on, Resonant Strategy Group of Jupiter Florida was engaged in October 2014 to review the work of the previous agencies. The company was supposed to analyze the progress of the renaming process and identify recommendations. Finally, Interbrand, an international consultancy firm, was contracted to assess the former competitors and suggest new names that would be adopted. Romon Soto engaged the Board of Trustees and all stakeholders with the aim of convincing them on the importance of rebranding in the shortest time possible. In April 2015, more time was spent on evaluating and filtering names through trademarks to identify any conflicts of interest. Interbrand narrowed the list to 600 and,later on, to 3.
More than 5000 names were formally and informally presented for review and consideration. As earlier noted, about four consultants were hired in the entire process of identifying the right brand name. The companies were contracted at different times, and each would review the name of its predecessor. The consultancy firms included Landor of Manhattan, Monigle Associates of Denver, Resonant Strategy Group of Jupiter, and Interbrand.
The most outstanding challenge to Soto and Dowling was to convince a section of the board members to adopt the change. Most of them were rigid and appeared disinterested in adopting a new company name. According to them, the previous one was equally appropriate, hence no need of changing it. However, through the help of the consultancy groups and a series of board meetings, they finally agreed to the proposal. In fact, towards the end of the process, the proposed name was unanimously approved by all stakeholders. Another major issue that Soto faced was limited timeline upon which he was expected to spearhead the process that had taken years. Evidently, two months were minimal bearing in mind that the same process had taken more than six years without success.
As far as I am concerned, Soto and Dowling did the best they ought to have done. They followed the due procedure, thus eliminating cases of conflicts either with the trademark law or the stakeholders. However, if I were the one spearheading the procedure of rebranding, I would have reduced the number of consultancy firms to two. This would have lowered the overall costs involved and hasten the process.
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