2 Corporate Image & Branding

7/31/2019 2 Corporate Image & Branding

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Managing a corporations image.

Managing brands.

Issues associated with developing andpromoting brand names and logos

Importance of packaging and labels.

Developing brand and corporatepositioning strategies.

Brand and Corporate

Image Management

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Tangible Elements Intangible Elements

1. Goods and services sold.

2. Retail outlets where product

is sold.

3. Factories where product is

produced.

4. Advertising, promotions, and

other forms of communications.

5. Corporate name and logo.

6. Employees

1. Corporate, personnel, and

environmental policies.

2. Ideals and beliefs of corporate

personnel.3. Culture of country and location

of the company.

4. Media reports.

F I G U R E 4 . 1

Components of a Corporate Image


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Role of Corporate ImageConsumer Perspective

Consumer perspective.

Business-to-business perspective.

Company perspective.

Sonys Web site is continuallyupdated, but still retains aconsistent corporate image.


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Promoting the Right Image

Creating the right image.

Conveys a clear message about the organization.

Should portray the nature of the firm.

Fit with products being sold.

Rejuvenating an image. Easier than changing a well-established image.

Add new elements but continue current image.

Changing an image

Extremely difficult.

Necessary when

Target market has shrunk or disappeared.

Current image not consistent with industry trends.


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Test for Effective Logos

Should be easily recognizable.

Should be familiar.

Should elicit a consensual meaning amongfirms target market.

Stimulus codeability

Should evoke positive feelings.


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Benefits of Logo Recognizability

Aids in recall of specific brands.

Aids in recall of advertisements.

Reduces shopping effort.

Reduces search time and evaluation of

alternatives.


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Logo Recognizability

McDonalds Golden Arches logo is recognizable enough to stand on its

own.


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Branding

Provides quality assurance

Reduces search time.

Allows a company to charge more.

Reduces brand parity.

Consumers choose a brand because it is:

Salient

Memorable Noteworthy


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Developing a Strong Brand Name

What are the most compelling benefits?

What emotions are elicited by the brand either during

or after the purchase?

What one word best describes the brand?

What is important to consumers in the purchase of theproduct?

Begins with understanding why consumers buy a brand.


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Packaging

Traditional elements Protect the product inside

Provide for ease of shipping, moving, and handling

Provide for easy placement on store shelves

Prevent or reduce the possibility of theft

Prevent tampering

New trends

Meet consumer needs for speed, convenience and

portability

Must be contemporary and striking

Must be designed for ease of use


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Labels

Must meet legal requirements.

Provide another marketing opportunity.


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Benefits of Brand Equity

Higher prices

Higher gross margins

Channel power

Additional retail shelf space

Reduces customer switching behavior

Prevents erosion of market share


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Building Brand Equity

1. Research current brand image.

2. Decide what makes the brand unique.

3. Communicate brands uniqueness.

4. Spend heavy on advertising.

5. Make domination the goal.

6. Deliver on uniqueness.


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Successful Brand Development

Continue commitment to the brand.

Increase market penetration.

Understand the brands target market Leverage the effects of penetration


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Positioning Approaches

Attributes.

Competitors

Use or application

Price/quality.Product user

Product class

Cultural symbol

Consumer markets

B-to-B markets

International markets

1. Is relative to competition.

2. Exists in the mind of the consumer.

2 Corporate Image & Branding

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