Can a New Name Still Communicate Old Traditions?
Lookers plc group is a well known entity in the car dealership space, managing multiple brands across the UK. They are regarded as one of the biggest motor groups in the country, coming in as a solid second in the marketplace. What makes Lookers so formidable is that they pursue strategic acquisitions that not only grow their brand, but expand their marketplace. Today’s consumers are hunting for not just good cars, but the best experience possible. Pulling multiple brands under one umbrella gives the company an opportunity to have a consistent product, both on the car side as well as the service side.
For an acquisition to make sense, it has to have benefits on both sides. For Benfield, the company most recently acquired by Lookers, it was a chance to have greater investment, expand offerings, and reinforce service commitments.
Currently, Benfield working with the parent company to rebrand all dealerships under the name Lookers. It’s an exciting time, because customers will see the changes, but Lookers is already prepared for concerns and questions.
They want to make it clear to customers that no services are being taken away. If anything, the acquisition is a net positive for the current customer base, as well as all prospective customers.
Lookers reports that so far, customer response has been overwhelmingly positive. Does that mean a new name can still communicate the old traditions of the newly acquired company? Lookers is betting on that fact. After all, Benfield had 30 dealerships and retail outlets in its own right, not a small number at all within this industry.
Company representatives indicate that the rebrand is going to be a slow transition, with as much notification as possible given to current customers. Clearly this approach seems to have a definite element of careful planning, coupled with a bold decision to move forward and focus on creating a win-win situation for all parties involved.