AsiaNews | Colombo | Monday October 1, 2018 | by Claude Gunasekera : State owned Sri Lanka Petroleum Corporation (CPC) is to spend Rs. 3 billion for their logo change, while increasing the prices of fuel. An opposition political party Janatha Vimukthi Peramuna (JVP) questioned how a country’s economy can be developed in a context where Rs 3 billion is used to change a logo in a public organization when people are suffering and opposing for their price increase. Sri Lankan parliamentarian of the (JVP) Vijitha Herath told this at a public rally in Gampaha last weekend. He also noted that no information is given on the fuel price formula despite the question regarding it. He accused for taking a decision to spend Rs 3 billion on a logo when there are serious economic issues in the country.
Reporter’s Note: In terms of marketing or branding, it is an immutable truth of business, as companies evolve and change of logo according to market dynamics. If the logo does not work well with modern trend or the design of the logo if not well fit in to the business, a change in logo is appropriate since it is normal for a business to evolve and adapt to the changes in the market. In today’s highly image-sensitive market, it is needed to have a professional-looking logo to compete in business rivalry. If the logo is less impressive than its competition, then a good logo should be designed. In fact having an attractive logo for CPC is important and it is an accepted fact in marketing that age old CPC logo need a change. Although it is so required, this is not the right time for a change with an expense of Rs 3 billion. CPC is a state owned organization and they are accountable for people of the country for every decision they take. When the country is facing a crucial economic crisis, such decisions are not recommended and not accepted by the masses. If the CPC has extra funds it could be passed down to the consumer by reducing the price of fuel, where people would happily praise the board of directors of CPC instead rebuking. Meanwhile the CPC has no real threat from competition as to change of logo at this moment. Therefore a logo change for the Petroleum Corporation is not at all appropriate even in terms of marketing or branding.