It is a known fact that Mahindra has betted on Korea’s SsangYong to foray into the upmarket share of India, but being landed onto false brand position Mahindra feels the SsangYong needs a rebranding to store up the confidence of its customers.
The same is echoed by Pawan Goenka, president, M&M, at an exclusive interview with one of the leading media house. He confirmed that brand has acquired some negative connotations due to which they are facing difficulties in the sailing. To its legacy, a new brand name is under the process of finalization, which will replace the ‘SsangYong’ completely. Mr. Goenka added that double S feels a bit tad in sounding, and some financial drawback related to it is also seems pulling its brand-image down to an extent.
“SsangYong came out of a business conglomerate which doesn’t exist anymore. It has a lot of negative connotations, associations also because of the history of strikes and a poor financing performance and it is a difficult name to pronounce and a difficult name to spell. Double “S” is very difficult,” said Goenka in the interview.
Hence, we are very keen to know what the Mahindra is cooking to give us a bash for feasting on in 2014.
Source: CNBC TV18