Refining a 90-year old South Africa Classic.
To support Rand Refinery's new business strategy, the need was identified for a more 'future-proof' brand. Yellowwood was contracted to help.
For far too long, the Rand Refinery brand had been a product of chance and circumstance. With South Africa as the world largest producer of Gold during the 60s, 70s and 80s, there was no need to be concerned with brand development.
But things had changed: By 2004 SA's mines were rapidly running out of gold; and any competitive advantage that the brand might have represented in the early years had all but disappeared.
To make things worse, the competitors had evolved, adding speed, flexibility and sophistication to the products and services they delivered, while Rand Refinery rested on its laurels with out-dated equipment, watching its sales volumes and margins erode year after year.
To address the business challenges, a new Business Vision and Strategy was documented to re-position the company for profitable growth between 2011 and 2020. The strategy is built on sourcing more aggressively from Africa, expanding into new regions like China and India with a much wider portfolio of products, and going further down the precious metals value chain though partnerships and alliances.
To support the new business strategy, the need was identified for a more 'future-proof' brand. Yellowwood was contracted to help answer the following questions:
- How many brands and/or sub-brands do we need to deliver effectively to depositors, investors, banks, trade and end-customers?
- Do we really need different brands for B2B (business to business) and B2C (business to consumer)?
- Can we use our existing brand and, if so, what do we need to do with it to ensure we achieve our business strategy?
- What should we ideally stand for across the world that will differentiate us and create a competitive advantage?
- How do we engage this extensive business behind our brand so it can inform a culture of goal-driven delivery?
- What image should we project that will reflect what we promise the world?
- What should we be saying to different customers to influence their purchase decisions?
- Market insights- gaining insight into how the Rand Refiner brand was perceived by customers, partners and other stakeholders
- New brand positioning- to define what the Rand Refinery brand should represent
- New corporate brand identity and visual language- to represent the Rand Refinery of today, a modern and responsive organisation; a symbol that acknowledges core competence and heritage, yet provides a platform for telling the new story.
- Product and communication design
- Go-to-market plan- Yellowwood and the Rand Refinery marketing and management teams developed a detailed marketing plan that defines the priority markets and customers
- Creating an ingredient brand- to help build equity with the end consumer and to provide reassurance of the quality standards, the ingredient brand, RandPure™ was created (like Intel Inside)
- Internal brand engagement program- to equip every employee with an understanding of the new brand promise so that they can support it wholeheartedly and deliver the intended brand experience
The new Rand Refinery brand will be launched at the annual London Bullion Market Association conference and across the world mid-September 2011.
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