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Facebook becomes meta with rebranding considered a “distraction attempt”

Meta is the new name for Facebook Inc.

Changes announced by Facebook on Thursday
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Founder and CEO Mark Zuckerberg has made Facebook one of the company’s three major platforms (with Instagram) rather than a comprehensive brand in the face of whistleblower exposure and regulatory accusations. I leave it to (including WhatsApp).

Meta doesn’t shut her mouth exactly, but Zuckerberg & Co. Hope it helps to rebrand the problematic company and relocate it as a Metaverse player. Branding experts told MarketWatch that it was unlikely to be enough to restore the company’s tattered reputation.

The Facebook name change was announced by Zuckerberg, the company’s CEO and co-founder. Connect the meeting Thursday. This change is the company’s hardware to the so-called “next evolution of social technology,” in which mixed reality brings people together to play games, exercise, watch concerts, work remotely, and communicate. It reflects the pivot.

“Currently, our brand is so closely tied to one product that we won’t be able to represent everything we’re doing now, let alone in the future,” Zuckerberg said. “Over time, we want to be seen as a Metaverse company. We want to lock our work and identity to what we are aiming for.”

Zuckerberg hasn’t said whether Facebook’s stock market will change.Ticker META is already in use in the Round Hill Ball Metaverse ETF
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However, other renamed companies retain their original tickers, including Google’s parent company Alphabet Inc.
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Metaverse is “the next chapter in our work,” Zuckerberg said, predicting that within the next decade, one billion people will be part of this virtual world. In the process, he outlined a number of apps and hardware under development to enable an immersive new world in a few years.

“We’ve moved from desktop to web, phone, text, photos, and video, but that’s not the end,” Zuckerberg said. “The next platform and media will be the more immersive and embodied Internet that we are not only seeing, but experiencing. This is called the Metaverse.”

But restarting one of the most well-known names in technology could confuse and ridicule consumers. Immediately after the overhaul, Meh-ta became a trend on Twitter.

“Facebook will be branded like Oculus and other Metaverse extensions,” Creative Strategies Chairman Tim Bajarin told MarketWatch before the event. “If properly managed, you can set a roadmap for the future.”

Rebecca Biestman, Chief Marketing Officer at Reputation.com, said the name change is equivalent to applying new paint to the tampered brand name.

“I don’t know how long this rebranding has been going on, but Facebook’s rebranding seems to be a reaction to the steadily declining reputation of the brand,” Beastman told MarketWatch. Told. “True innovative companies usually use branding as a strategy to maintain their competitive advantage, rather than waiting for a brand to be renewed at an imminent event.”

Perplexed Zuckerberg faces a torrent of bills aimed at proceedings, investigations and regulation of a vast platform, but Facebook is shifting its focus to adults aged 18-29 in its earnings announcement on Monday. Said. “We are reorganizing our team to make it our North Star to serve young adults,” he said of his years of effort.

“In the next few years, we expect people to move from seeing us primarily as a social media company to seeing us as a metaverse company,” he said on the phone.

read more: Opinion: Dear Facebook: Nobody cares about Oculus. Make Instagram Revenue!

But the new name seems to be “a very small way to answer the phone [to break up Facebook]Umang Shah, Global Digital Head of Medidata Solutions, told MarketWatch. “In the worst case, it’s a distracting attempt.”

Facebook should focus on addressing criticisms about how content is filtered and delivered, rather than “misleading renaming,” said Shah, who previously played a social and digital marketing role at Microsoft Corp. increase.
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Walmart Inc.
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And Campbell’s Soup Co., Ltd.
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Social networking companies continue to be attacked by handling content and data, and ignoring clear internal signs that digital platforms are particularly harmful to children. This week, Senator Richard Blumenthal (Connecticut), Edward Marquee (Connecticut), and David Siciline (DR.I.) have called for a law targeting the Federal Trade Commission. We are allegedly investigating yet another probe, And that The New York Times has called Mark Zuckerberg timeless as CEO..

In fact, according to Consumer Reports, 63% of Facebook / Instagram users say they are victims of false information. August Survey of 2,263 US Adults.. In addition, only 41% of online adults in the United States polled by Forrester say they trust their former Facebook.

Facebook has joined the long line of rebranding tech companies by challenging the reinvention of the name. Google is Alphabet Inc. Became Apple Computer Inc. Is Apple Inc. It became a pair with.
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Snapchat Inc. Is Snap Inc. It was shortened to.
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The latter two drive simplified messaging, but Google-Alphabet changes continue to confuse consumers.

Ken Segall, who came up with Apple’s “Think Different” marketing campaign and put an “i” on the iPhone, says that renaming doesn’t change anything.

“They have tons of problems to deal with,” he says. “Change the minds of billions of users Don’t do it with a new title. To get there, you need to make a radical organizational change. “

Of course, it’s all blown away on Facebook’s face and could be a “new cola” moment.Coca-Cola Companies
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A campaign to informally name a new recipe for the most popular soft drinks in the mid-1980s failed and was finally canceled in July 2002.

“In the short term, the name change will not be very effective in silencing critics,” Forester’s vice president and principal analyst Dipanjan Chatterjee told MarketWatch. “It happens anyway, because the half-life of consumer anger rarely exceeds the news cycle.”

Facebook becomes meta with rebranding considered a “distraction attempt”

Source link Facebook becomes meta with rebranding considered a “distraction attempt”

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