Wanda's savvy acquisitions need name

Instead Wang and Wanda should opt for a range brand building strategy. Range branding involves a strategy in which an organization, often with a substantial and diversified product portfolio, develops separate brand names for each of its different range of related products.

Examples can be found in many industries. Heinz and Green Giant are examples of range brands in the food industry and Gillette's Oral-B brand is another example of a brand that stretches over a range of related products.

If Dalian Wanda is to come anywhere near achieving Wang's objective of a $100 billion corporate brand valuation, then it is highly likely that strong, emotional brand names will play an essential part in such an enormous financial valuation.

Introducing a fresh association very soon, by way of an emotional range brand name is, therefore, a necessary step in Wanda's expansion plans.

Individual product brand naming will prove far too time-consuming and expensive and will deny Wanda any form of important brand cohesion as it expands globally.

Range brand naming, however, with a suitable name for each of the current categories such as hotels and cinemas, offers an extremely attractive alternative.

The corporate name should remain part of the overall brand identity but fade as the range brand names achieve increasing, international awareness and hopefully positive and emotional association.

So, what should these range names be and how could emotional meaning be achieved?

Here Wang and Wanda have to demonstrate even greater confidence and determination by constructing range brand names that build positive, emotional association with Chinese culture.

Association with ancient China in particular will, without doubt, resonate with the European and US urban consumers.

Such brand names will also prove extremely difficult for the competition to emulate or launch any sort of effective counterattack.

Wang has shown tremendous tenacity and clearly possesses a remarkable business brain, but the boldest and most decisive move into brand building, range branding and Chinese brand association is now sitting on Wang's shoulder.

Giving the cold shoulder to brand building at Wanda will certainly lead to failure to reach Wang's 2020 aim of a $100 billion company valuation.

The author is a visiting professor at the University of International Business and Economics in Beijing and a senior lecturer in marketing at Southampton Solent University's School of Business. The views do not necessarily reflect those of China Daily.

 

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