Did you think that Mastercard would ever shed its name from the logo? It’s planning to do so!
But why? Would be your immediate first question to yourself. What would it achieve? Well, after 50 years, Mastercard is planning to eliminate the word Mastercard from its logo. It’s a rebranding activity that the company is going to roll out on its new cards soon. So you won’t see the word “Mastercard,” leaving red, yellow and orange entwined circles in the form of the current Venn diagram that you can see on the card. We think that Mastercard wants the brand to be listed and remembered as one of the nameless iconic brands just like Apple’s apple and Nike’s swoosh. But there’s more than meets the eye, it seems. Mastercard New Logo
The strategy behind Mastercard’s decision to roll out a rebrand is that it wants the world to see it more than just a credit card firm. It wants to be known as a technology brand, thus this step to modernize its look and appeal to suit the palate of global markets and young demographics of the mobile era.
As per Mastercard’s CMO, Raja Rajamannar, Mastercard had been busy doing research since the last 2 years in various countries. He claims that the company conducted research programs in developing as well as developed places. And as per their research reports, 80% of the people interrogated in these different countries could differentiate Mastercard’s identity through its logo itself. Hence, the decision to discard the name from their iconic logo, leaving more room for the circles to be revealed clearly and making them more prominent on smaller mobile screens and on the interfaces of smartwatch gadgets. We think that Mastercard might achieve a breakthrough in terms of giving it a more global approach and brand recall. But how will it really impact the way they do business, needs to be seen. The rollout, however, will not take place all at once. It will be done in stages.
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Marketing strategy, Branding, Innovation, Credit Card, Mastercard rebranding, iconic brands, Logo, New Mastercard Logo, Mastercard New Logo
