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Friday, 28 March 2014

ING Direct is Now Tangerine?

With a background in Advertising as well as several years working in Media Measurement and Market Research, I thought I'd heard it all. However, I was taken back when I received a "flyer" from ING Direct yesterday advising that they had turned the well known banking institution into "tangerine". ING was recently acquired by Scotia Bank, so I guess they just wanted to put there own "Sun Kissed" style stamp on it. With all the time and money spent promoting the ING brand and it's majestic logo over the years, I can't get my mind around now having to think of the lender as a tropical fruit. Apparently Scotia Bank is "richer than you think" as I believe this to be a huge gamble. I'm not saying that people, including myself, will exit in droves but given a choice between well respected banking options in the Canadian Financial sector, will people be carting their money into a bright orange tangerine? Time will tell but I think the name to be more suitable as a frozen yogurt franchise or the logo for a fruit stand sign. If a name change was a must, why not just put another known and trusted stamp on it and call it what it now is, Scotia Bank? I don't know why this bugs me so much? I later ended up seeing a TV commercial for the new brand and watched attentively thinking that would fill in the blanks and make some sense for me but nothing! There doesn't seem to even be a related theme. It's as if the discussion for a new name took place over lunch and as the CEOs peeled back their healthy desert, someone blurts out; "that's it! We'll call it "Tangerine!"