NEW PROBLEM BROUGHT TO LIGHT BY Y2K: MILLENIUM FORCING MANY COMPANIES TO CHANGE NAMES

MIAMI, Fl., July 23, 1998 – The Year 2000 is causing more problems than just potential software glitches.

For companies of all sizes, the use of the Year 2000 in a corporation’s name is upsetting top management, forcing some companies to spend thousands of dollars and risk important brand identity to change their names.

Gateway 2000 is one of the largest companies to undergo a name change. In April, the personal-computer retail giant dropped any reference to the millennium from its name and now simply goes by Gateway. And more companies are expected to follow its lead. 

Marketplace 2000, a leading retail marketing strategy firm, has changed its name to Strategic Mindshare. The firm recently opened an office in California to meet the growing demand of Internet companies in Silicon Valley and to satisfy their retail clients' need for E-commerce services.

Cynthia Cohen, Strategic Mindshare’s president, views the idea of a name change as a positive marketing opportunity. "What was once futuristic is now anachronistic," said Cohen. "We originally chose our name because it had a futuristic focus. Now we have changed our name to reflect our business’ future beyond the Year 2000."

Cohen, one of the nations’ leading authorities on retail strategy and marketing, has developed new concepts, re-defined positioning and merchandising strategies and re-invigorated brand images for national retail companies, including Godiva Chocolatier, Bloomingdales, Ashley Stewart and Hallmark.

The new corporate identity for Strategic Mindshare was developed and designed by BrandEquity International, creators of brand strategies, names and trademarks for companies such as Amoco Oil Co., Eastman Kodak, and Kmart. Copies of the new Strategic Mindshare logo are available upon request.

Strategic Mindshare is a highly respected, national retail consulting firm that helps retailers with business planning and strategy, marketing plan development, new concept development, market positioning, profit improvement and merger and acquisition analysis.

Headquartered in Miami, Strategic Mindshare has offices in New York City and Palo Alto, Calif. The firm’s clients include top retail and manufacturing companies in the United States, Latin America, Europe and Asia.