The company says the changes reflect a shift away from a business focused solely on printers and copiers to one more centered on information management services and software, document management and color digital technology and printing.
Launched Monday night on Xerox.com, the new logo replaces the capitalized, blue Xerox sign with a lower-case red logo adjacent to a red sphere on which parallel lines cross to form the letter X.
Richard Wergan, vice president/brand marketing and advertising at the company, says the change is the most comprehensive in the company's history. "It's the biggest visual change in our identity for forty years, and over those years our business has transformed," he says. "Today, we are launching a new product every 11 days, and two-thirds of our revenue is from products shipped to market over the past two years."
He says the new look, comprising the lower-case "wordmark" and marketing symbol, has more dynamism and is more open and more approachable as a brand mark.
"We need to ensure we communicate other elements of the brand through a symbol that communicates a more emotional aspect--the lines represent the connections we make on a daily basis with customers, on a daily basis with channel partners, and on a daily basis with research and development teams."
Through the third quarter of 2007, per the Norwalk, Conn.-based company, services deals generated about $2.5 billion in annuity revenue--an 8% increase from the prior year. The company also says it is doubling its research and development in services-related offerings.
Among other things, Xerox, which says it has launched over 100 products in the past three years, is expanding its B-to-B color-printing portfolio and its line of eco-friendly products. The company says color printing is 50% of the $1.5 billion Xerox and its partner, Fuji Xerox, invest each year in research and development.
Over the next year and a half, the new logo will appear on products, facilities, vehicles and marketing materials. Fuji Xerox, a joint venture between Xerox and Fujifilm Corporation that markets Xerox systems throughout most of Asia, will transition the Fuji Xerox brand over time.
In a release, Xerox CEO Anne Mulcahy said the change reflects a company transformed "into a business that connects closely with customers in a content-rich digital marketplace."
Xerox President Ursula M. Burns said the company is giving the brand a contemporary look "that is more relevant for business today--a bit less formal, a lot more lively, with links to our heritage and a nod to the future."
Wergan adds that the changes will be reflected in new advertising this month that aligns with its 18-month-old campaign via Y&R. "As we move forward with the new brand, we will review all marketing communications."