Re-Branding and Performance at Ghana Oil Company Limited : An Empirical Study

Attempts by some state-owned enterprises (SOEs) to pursue rigorous branding and rebranding strategies have been met with disdain, particularly in Ghana where stakeholders and other commentators question the rationale for such strategies; labelling them as needless and wasteful due to the high associated financial implications. Yet, rebranding is necessary to offer differentiated products and services that outperform those of competitors. Using the 2010-2012 re-branding exercise undertaken by Ghana Oil Company (GOIL) - a state-owned oil marketing company in the petroleum downstream sector of Ghana as a case illustration, the paper evaluates the impacts of rebranding on firm performance through investment in employees and brand equity. The paper discusses and concludes with highlights of the specific contribution of rebranding in state-owned enterprises and make appropriate recommendation for its effective utilization to attain competitive advantage and superior performance.