Re-branding reaps profits for miniature electronics maker IntriCon's tiny electronic devices make a big difference in people's lives. The company designs and manufactures advanced miniature and micro-miniature products such as hearing aids, medical-monitoring devices and headset microphones. IntriCon was founded in 1977 under another name - Resistance Technology Inc., or RTI. The parent company, Selas Corp., decided to change the name in 2004, when research showed RTI lacked brand recognition and didn't convey the company's miniature/micro-miniature capabilities. Selas hired Padilla Speer Beardsley to create a new public identity for the electronics company, including the new name, a logo, key messages, a Web site and an integrated plan to publicize the re-branded enterprise. The successful strategy gained Intricon several key contracts with leading medical OEMs and retired the RTI name with no negative customer impact. Another benefit: Sales grew more than 32 percent in three years and the company has gone from a per share loss of $.37 to positive earnings of $.23 per share. |
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