More corporations are learning that a stable identity can lead to a more stable brand, according to a survey from branding consultancy Enterprise IG. The survey shows a decline
of 30 percent in the number of name changes in the first half of 2002 over the same period last year. The company reports it is the largest decline in two decades, and officials
attribute the drop to domestic and international uncertainties on the corporate and political fronts. Companies that did make a switch selected names more appropriate to current
and future operations. The rare changes included:
- Minnesota Mining & Manufacturing officially switched to long-time alias 3M
- Philip Morris changed to Altria (the cigarette brand will retain its old name)
- Deutsche Bank Alex Brown became Deutsche Bank Securities