In today�s crowded business market, companies whether big or small are competing more than ever to deliver their message. As companies launch all kinds of advertising and marketing campaigns to lure consumers, it becomes more difficult for one message to stand out. Additionally, the increasing cost of marketing a new product or service makes it critical for a company to come up with an efficient strategy to promote its business. Companies utilize corporate branding in order to bring out their message effectively and efficiently.
With a strong corporate branding strategy, a business is able to establish to the consumers immediately the unique value of their product or service such as credibility and high quality. This is why creating a powerful corporate brand and protecting it is critical not only for large businesses but for any business serious about its goals.
Corporate branding is the use of the company�s name as a brand name of a product or service. Some examples include Coca-Cola or Pepsi. This practice is effective in building product recognition. However, corporate branding is more than just advertising and marketing. It involves those processes but, at the same time, corporate branding incorporates other strategies such as investor and media relations. Corporate branding requires the participation of not just the marketing group but top management as well.
It is important to note that corporate branding is not the same as corporate identity. Corporate identity is the image of a company manifested in the company�s logo, product packaging designs, media advertisements, and etcetera. It is just one strategy employed under the overall corporate branding strategy. Corporate branding involves the company�s values, philosophies, and culture.
In order for corporate branding to be successful, a company must establish solid long-term goals and vision and infuse it in all of the company’s operations. Corporate branding takes time and a lot of research. Some large corporations that have built powerful corporate brands include Disney, Apple, Microsoft, Nestle, Adidas, Nike, Wal-Mart, Procter and Gamble, Sony, and many more
A company, whatever size, will be successful in its corporate branding efforts if through time it will continually invest its resources and ensure consistent delivery of its business message in all levels of operations whether the message is commitment to customer service, innovation, or values like perseverance or integrity. Corporate branding allows businesses to be competitive by leveraging its unique business values and approaches in order to create brand awareness and loyalty among consumers.