▁a ▁change ▁in ▁a ▁company / ▁corpor ate ▁brand ▁that ▁may ▁own ▁several ▁sub - br ands ▁for ▁products ▁or ▁companies . ▁ ▁Corpor ate ▁re brand ing ▁Reb rand ing ▁has ▁become ▁something ▁of ▁a ▁f ad ▁at ▁the ▁turn ▁of ▁the ▁mill en ni um , ▁with ▁some ▁companies ▁re brand ing ▁several ▁times . ▁The ▁re brand ing ▁of ▁Philip ▁Morris ▁to ▁Alt ria ▁was ▁done ▁to ▁help ▁the ▁company ▁shed ▁its ▁negative ▁image . ▁Other ▁re brand ings , ▁such ▁as ▁the ▁British ▁Post ▁Office ' s ▁attempt ▁to ▁re brand ▁itself ▁as ▁Cons ign ia , ▁have ▁proved ▁such ▁a ▁failure ▁that ▁millions ▁more ▁had ▁to ▁be ▁spent ▁going ▁back ▁to ▁square ▁one . ▁ ▁In ▁a ▁study ▁of ▁ 1 6 5 ▁cases ▁of ▁re brand ing , ▁M uz elle c ▁and ▁Lamb kin ▁( 2 0 0 6 ) ▁found ▁that , ▁whether ▁a ▁re brand ing ▁follows ▁from ▁corpor ate ▁strategy ▁( e . g ., ▁M & A ) ▁or ▁constit utes ▁the ▁actual ▁market ing ▁strategy ▁( change ▁the ▁corpor ate ▁reputation ), ▁it ▁a ims ▁at ▁en han cing , ▁reg aining , ▁transfer ring , ▁and / or ▁recre ating ▁the ▁corpor ate ▁brand ▁equ ity . ▁ ▁According ▁to ▁S inc la ir ▁( 1 9 9 9 : 1 3 ), ▁business ▁the ▁world ▁over ▁acknowled ges ▁the ▁value ▁of ▁br ands . ▁“ Br ands , ▁it ▁seems , ▁alongside ▁ownership ▁of ▁copy right ▁and ▁tra dem