It is no secret to anyone that we are facing a consumer who is increasingly concerned about knowing what is behind each of the brands they consume. This has led many firms to reinforce the design of their corporate image. The last to do so is Grupo Toks.
After 50 years of history in the market, Grupo Toks has decided to change its corporate brand, with which from now on it will respond to the name of Grupo Restaurantero Gigante (GRG).
In this way, now the more than 230 establishments that the group has will live under the umbrella of this brand, whether in its formats of restaurant, cafeteria, fast food, specialties, casual dinner or casual fine dining.
For now, there are five restaurants that make up the newcomer Grupo Restaurantero Gigante.
Toks was in 1971 the restaurant brand with which this group started in Mexico. This was joined by the Chinese-American restaurant Panda Express during 2011. Beer Factory would join in 2014, while the most recent acquisitions would arrive during 2019 and 2020 with Shake Shack and the El Farolito taco brand.
This has not been the only movement along this line. In past months, the brands Ilusión, Fiorentina, David’s Bridal, and the lingerie brands in the alliance with Fruit of the Loom: Vassarette, Vanity Fair, Curvation and Fruit of the Loom lingerie were consolidated under the corporate brand Diltex Brands, a Mexican business group with more than 70 years of national and international presence, with in order to offer a comprehensive value proposition for its consumers, highlighting both their particular qualities and their common philosophy of empowering women.
This matter goes beyond simply throwing corporate brands left and right. In reality they have to do with the need to provide greater guarantees to consumers, who are increasingly looking for greater and better answers about what is behind each brand.
In principle, it suffices to recognize the estimates of IE Business School, who argue that 80 percent of the value of companies has to do with their intangible assets themselves, which are divided into the corporate brand and its reputation.
In this way, brands are obliged to understand and attend to the latter from a much more strategic rather than technical vision in order to increase their opportunities to position themselves as leaders and maintain the profitability of their business in the long term.
In fact, data provided by Statista indicates that people’s opinion about the company is the main factor (94 percent) that contributes or affects the reputation of a company, even above the recognition obtained (88 percent) or publicity. (86 percent).
The statement makes more sense when we consider that, according to a survey conducted by BSI, 23 percent of consumers say that they would carry a company product if their reputation was within the average, a figure that rises to 39 percent when we are talking about strong reputation levels and at 77 percent when the reputation reaches a rating of excellence.
At this point it is important to recognize that in post-pandemic times, as pointed out by Toluna’s Conscious Consumers Barometer 2020-2021, 46 percent of consumers interact with brands that share their values, 49 percent have left to buy brands that are not alienated with them.
With this in mind, it is important to recognize what it takes to develop a brand and corporate identity:
- The corporate identity must communicate the values, history and differentiated offer of the company
- It should settle for a memorable and attractive name, a simple but consistent logo, and a philosophy that is trustworthy and authentic.
- The focus should be on the consumer, so the tone of the communication and the colors until the choice of graphics have to be empathic with the target audience.
- The corporate identity must respond to the fundamental purpose of the company and its business plan.