Bps Rebranding After The Us Gulf Of Mexico Oil Spill 2010

BP’s Rebranding After the US Gulf of Mexico Oil Spill 2010 A brand is an organisation, product or service which has created an emotional connection with their consumers in order for them to favour their brand over their competitors. It is incredibly important for brands to keep up their image and one little thing could change the global perception of a business. It takes a lot to maintain a brand image that has been built up over a long period of time and even more to regain it if that reputation is lost. Brands are created through various different aspects such as their visuals, tone of voice, advertising, actions and reputation. The combination of these will leave their consumers with long lasting emotions and perceptions of a particular brand and will effect whether they support a business or not and whether they would favour or avoid it. When a brand looses their image it can cost a lot of money and time to rebrand to prevent complete failure of the product or service. I will be writing this essay on the powerful rebranding of BP oil and gas supplies and how they overcame the crisis of the US oil spill. The oil spill happened on the 20th April 2010 and had a huge effect on the company’s image, reputation and success. The incident effected the brands image which meant consumers started favouring other gas and oil brands as BP no longer had the long lasting reliability that the public chose them for. The company was founded in 1908 after William D’Arcy gambled aShow MoreRelatedBp s Rebranding After The Us Gulf Of Mexico Oil Spill 20101792 Words   |  8 PagesBP’s Rebranding After The US Gulf of Mexico Oil Spill 2010 A brand is an organisation, product or service which has created an emotional connection with their consumers in order for them to favour their brand over their competitors. It is incredibly important for brands to keep up their image and one little thing could change the global perception of a business. It takes a lot to maintain a brand image that has been built up over a long period of time and even more to regain it if that reputationRead MoreEssay on BP Oil Spill in the Gulf of Mexico3115 Words   |  13 Pages An oil spill of 4.9 million barrels, which happened in 2010, created not only turmoil for the environment, but caused the economy to take a great hit from the loss of an important raw material. Transocean were the owners of the oil rig drilling on behalf of BP, who were the ones at fault for the spill. This event caused a stir in both the government and non-governmental organizations, because of the extensive damage that it caused. Federal investigations were put under way to determine theRead MoreAre There Any Aspects of Bp’s Ethical Culture That Could Have Contributed to the Gulf Coast Oil Spill Disaster?8553 Words   |  35 PagesBP Gulf Coast Disaster and Recovery INTRODUCTION BP, formerly British Petroleum and the Anglo-Persian Oil Company, has experienced a lot of ups and downs over its hundred-year history—from nearly bankrupting its founder William D’Arcy to becoming one of the world’s largest energy companies. BP has also experienced its fair share of controversies regarding business practices, environmental damage, and hazards to workers. It and all other large energy companies have come under fire for releasing hugeRead MoreCompany Valuation Report for Bp20320 Words   |  82 Pagesc. is an energy company with an upstream business of extracting crude oil and downstream business of providing processed energy to companies. It is listed in both the New York Stock Exchange (NYSE) based in the United States of America and the London Stock Exchange (LSE). BP is based in London and they carry out oil prospecting extraction and retail its product in more than 70 countries. Out of the companies operating in the oil industry , the biggest two competitor of BP is ExxonMobil and ChevronRead MoreMedia vs Creative Strategy in Advertising2505 Words   |  11 Pagescreative strategy is BP’s rebranding campaign. In 2003, they adopted a new image and tagline â€Å"Beyond Petroleum† in an effort to rebrand itself as an environmentally responsible company. The strategic brand positioning, with a new visual and creative outlook, seemed like a considerable success with BP being considered one of the most recalled brands in the 2000s (Greyser, 2010). However, the image it created was nothing but negative. The campaign did not seem to correspond with BP’s record – they have