2008 promises to be an exciting year for the Societe des Bains de Mer et du Cercle des Etrangers, commonly and confusingly referred to here in Monaco as SBM. Confusingly, because there's another company based in the Principality called Single Buoy Moorings, also referred to as SBM. Perhaps this was one of the reasons for the recent branding exercise carried out by the company, resulting in their new name Monte-Carlo SBM.
Branding is important for both a company's customers and for the company itself. Strong brands can create an emotional bond with consumers, leading to increased loyalty. For the company, a brand may sufficiently differentiate services or products from those of its competitors and so increase market share and profits.
For a couple of years now, SBM has been searching for hotel and casino investments outside the Principality, a move that could potentially provide growth for the company. Perhaps this was another reason that they put together a think tank of specialists and company representatives to discuss the company's identity and image, and to ensure that its position reflects their values.
The outcome of the meetings was that there are 4 "products" offered by the company. Firstly, excitement, represented by gaming and sports. The excitement of breaking the bank in the Monte Carlo Casino, or of seeing the F1 [1] drivers risking life and limb on the hairpin bends of the Principality. The second is the "art de vivre", which doesn't really translate very well into English. Basically, it's the use of the best things possible in every aspect of your life, represented by beautifully furnished palatial hotels and fine, gourmet dining. Thirdly, is the idea of culture, represented by the large number of events organised by Monte-Carlo SBM in their many festival halls and venues. And finally, the fourth aspect is that of health and wellness, represented by spa and beauty treatments now offered in the hotels.
In order to support these offerings, the company also identified its core brand values: excellence, generosity, audacity, inventiveness and passion. And to reflect these attributes, a new logo has been designed. You can read the explanation of how the logo represents the values in the Hotels magazine article. [2] Now all Monte-Carlo SBM needs is that elusive investment outside Monaco.
Links:
[1] http://monaco-iq.com/f1-grand-prix
[2] http://www6.lexisnexis.com/publisher/EndUser?Action=UserDisplayFullDocument&orgId=616&topicId=12552&docId=u:747695605&start=8