Change Affects Business and Gains - A Look at Pardons Vs Record Suspensions

If a company designs its business around a particular product and creates logos, sales items, signs, ads, websites, etc around this item, will changing the name of the product affect the revenue of the business?

 

Let's look at a current event in Canada as an example. For the last 40 years, anyone who knew they would not pass a criminal record check could apply for a pardon, and based on specific criteria, the request was granted. Many businesses were built around this process, and for the sake of effective marketing, they all have the phrase "pardon" or "pardons" in their business name. Over the last few months however, the government has been looking at changing the pardons procedure in Canada. The first of their changes will be to switch the term "pardon" to "record suspension." Let us look at how this will influence the many businesses that have built a company name around the word pardon.

 

There are a few changes that would have to be made immediately following the passing of the fresh laws concerning pardons:

 

Companies would have to change their business names.

All online and print ads would need to be changed.

Businesses would have to print new flyers, business cards, posters etc.

They would have to change the name of their website(s).

These adjustments would each have an adverse effect on any business; there is room for particular changes to have a positive effect, but the actuality is that the pardons businesses will lose profits. First of all, these companies will have to pay for each of the above mentioned four changes to their business. Changing a business name means purchasing a new sign, when the old one could have lasted a few years.

 

Modifying any online or print advertisements would cost the least amount of money, as prices usually remain the same, and it only takes a phone call or an email to make the altar. The third adjustment could cost quite a bit, depending on how much the company has already paid for their flyers and business cards. If for example, an organization just paid a few thousand dollars for a flyer marketing campaign, they would right now have to pay that money all over again for re-printed flyers that replace pardons with record suspensions, as well as replace the outdated business name.

 

Changing a pardon website to a record suspension site would be relatively easy, but the company might still have to pay for the hours spent re-vamping the old website. The sensible thing to do would be to buy a fresh URL with the right term "record suspensions" and simply re-direct the WEB ADDRESS to the previous website. However, they would still need to re-write their web content material, re-format buttons and headings, and fundamentally modify anything that still talks about pardons.

 

The new pardons law is in its second reading in parliament, and will most likely be passed in the next few months. Unfortunately, many companies will find the change to be a negative effect on their profit margin, but the good news is that it will only be a short-term loss, and all of the competition will be suffering at the same time.

 

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