Pep Boys rebrands itself
Published April 3, 2014 at 8:17 am
As consumer attitudes change, so does the market. Companies that want to stay ahead must adapt to these shifts.
How can companies adapt? One way to accomplish this is by making over the brand. Pep Boys auto chain seeks to do just this, as the company has plans for a brand overhaul in an effort to keep up with the changing ways that people are caring for their vehicles. As an AdAge article reports, there has been a shift in the way that people handle auto maintenance, a movement from do-it-yourself to do-it-for-me. Since the Pep Boys model was based around the former, the company has recognized that it must change in order to give customers what they want.
Although the Pep Boys brand is still well-recognized, the company has not been performing as well as investors would like. Pep Boys sells auto parts and also offers auto maintenance services. In order to compete with dealerships and competitors like AutoZone, Pep Boys has decided to undergo a rebranding effort that goes beyond just changing the marketing and advertising strategy. The company will also be implementing changes to the company culture and altering the appearance of its stores. Additionally, Pep Boys has changed its logo, which can have a major effect on how a brand is received.
As we have discussed previously on this blog, sometimes rebranding efforts can miss the mark if timed poorly or if a company changes an iconic element (such as its logo) and the change is not well-received. However, a well-executed rebranding plan can inject new life into a company and reposition it for success. If you’re considering rebranding but your current strategy is working well, stick with it. If it’s not working, you may want to consider rebranding.