Impact Of Rebranding On Financial Performance: A Case Ofnew Kenya Cooperative Creameries Limited And National Bank Of Kenya

Abstract

The struggle(s) to get rid of a long-believed brand name and beginning from scratch, superficially trying to construct a new brand instantaneously, would appear to run counter to the ultimate marketing paradigms. Consequently to this hyper-adaptation phase, the culture of the company is also adversely affected. Various firms disregard rebranding and those firms rebranding do not sustain steadiness and stability in rebranding and the practice neither is nor concentrated on consumers. The rational of the research was to establish the rebranding effect on company’s financial performance: a case of National Bank of Kenya and New KCC (Kenya Cooperative Creameries Limited). The research was centered on comparative descriptive research design. The target population was 420 management personnel in all managerial ranks, i.e.; top, middle and low level management employees of both National Bank of Kenya and New KCC Limited based in the County of Nairobi. The study used Stratified random sampling method in making a sample size of 201 respondents. The questionnaire was used by the researcher as an instrument of collecting primary data. Descriptive statistics was also used. Additionally, the researcher piloted an analysis of multiple regressions to define the connection between the dependent and independent variables. Tables were used in data presentation. The study found that the change of the logo and slogan change positively but insignificantly influence the performance of an organization to a great extent while product specification change negatively but significantly influence the performance of an organization to a great extent. The study thus recommends that businesses should centre more on their product specification as a rebranding tactic. Additionally, the NKCC and national bank managing team ought to do comprehensive market research prior to rebranding; this would aid them in knowing the favorite changes by the members therefore advancing their assurance in the bank and NKCC.