pack and provide value to its owners (Sinclair, 1999:15). Motivation Corporations often rebrand in order to respond to external and/or internal issues. Firms commonly have rebranding cycles in order to stay current with the times or set themselves ahead of the competition. Companies also utilize rebranding as an effective marketing tool to hide malpractices of the past, thereby shedding negative connotations that could potentially affect profitability. Corporations such as Citigroup, AOL, American Express, and Goldman Sachs all utilize third-party vendors that specialize in brand strategy and the development of corporate identity. Companies invest valuable resources into rebranding and third-party vendors because it is a way to protect them from being blackballed by customers in a very competitive market. Dr. Roger Sinclair, a leading expert on brand valuation and brand equity practice worldwide stated, “A brand is a resource acquired by an enterprise that generates future economic benefits.” Once a brand has negative connotations associated with it, it can only lead to decreased profitability and possibly complete corporate failure. Differentiation from competitors Companies differentiate themselves from competitors by incorporating practices from changing their logo to going green. Differentiation from competitors is important in order to attract more customers and an effective way to draw in more desirable employees. The need to differentiate is especially prevalent in saturated markets such as the financial services industry. Elimination of a negative image Organisations may rebrand intentionally to shed negative images of the past. Research suggests that "concern over external perceptions of the organisation and its activities" can function as a major driver in rebranding exercises. In a corporate context, managers can utilize rebranding as an effective marketing strategy to hide malpractices and avoid or shed negative connotations and decreased profitability. Corporations such as Philip Morris USA, Blackwater and AIG rebranded in order to shed negative images. Philip Morris USA rebranded its name and logo to Altria on January 27, 2003 due to the negative connotations associated with tobacco products that could have had potential to affect the profitability of other Philip Morris brands such as Kraft Foods. In 2008, AIG's image became damaged due to its need for a Federal bailout during the financial crisis. AIG was bailed out because the United States Treasury stated that AIG was too big to fail due to its size and complex relationships with financial counterparties. AIG itself is a huge international firm; however, the AIG Retirement and