| Abstract [eng] |
The relevance of the topic. In recent decades, mergers and acquisitions have become a growing trend in Lithuania, creating a strong need for rebranding. In some cases, product brands develop into corporate brands and in other cases existing corporate brands are being replaced with new ones that reflect new strategies, possess new values and form a new image. In today’s highly challenging business environment a strong corporate brand is considered the ultimate competitive weapon, therefore corporate brand development issues are relevant both in theoretical and practical terms. However, despite the importance of these issues, the research on corporate brand development is relatively new and still rare in Lithuania. Corporate brand development in a case of Lithuanian companies merger has not been examined so far, therefore AB LESTO and AB Lietuvos Dujos merger creating AB Energijos Skirstymo Operatorius (ESO) as of 1st January, 2016 has been chosen as a foundation of this paper. The object of this paper is corporate brand development. The goal of the paper is to reveal new brand development processes in a case of a merger. The objectives of the paper are: 1) To justify the relevance and the issues of corporate brand development; 2) To reveal theoretical corporate brand development aspects; 3) To analyze the case of ESO corporate brand development; 4) To identify the stages of a new corporate brand development in a case of a merger. The paper consists of four main parts. In order to reveal the relevance of corporate brand development and to justify the need for further empirical solutions, an analysis of Lithuanian and foreign research and scientific literature is conducted in the first part of the paper. The second part analyzes theoretical aspects of corporate brand development while revealing the concept of corporate brand, the peculiarities of corporate branding, as well as possible corporate brand development strategies in a case of a merger. The research methods are being justified and the results of ESO corporate brand case analysis are presented in the third part of the paper. The analysis has shown that the use of new corporate brand strategy has had a negative effect on corporate brand awareness. What is more, the perceived ESO corporate image is weaker than that of LESTO and Lietuvos Dujos, therefore, there is a need for more effective communication campaign using integrated corporate communication. The fourth part of the paper includes the development stages of a new corporate brand in a case of a merger, namely: 1) Evaluation of existing company brands; 2) Creation of new corporate brand identity; 3) Corporate brand positioning; 4) Formation of corporate brand image; 5) Creation of stakeholders’ loyalty. It is recommended to include corporate stakeholders, such as customers and employees, into corporate brand development process. A constant monitoring and evaluation of corporate brand image is important, as well as adjustment of corporate brand identity elements if necessary. Practical value. The research paper might be useful for communication and marketing specialists, academics and students, as well as corporate management involved in merger activities and other individuals interested in corporate brand management. |
