Posted in Marketing and Strategy Terms, Total Reads: 459
Definition: Corporate Branding
The sum of all efforts which help in forming an image of a corporate entity as a brand within the minds of the people. This includes logo, typeface and product relevance. The activities and thinking of corporate branding are very different from branding of products and services. This is because the scope of corporate branding is much broader.
Corporate branding can include multiple mediums such as logo, treatment of employees, customer service, training of employees, advertising, and quality of products and services.
Some of the notable examples of corporate branding are:-
• Dell laptops- All of them have the company’s name such as Dell Studio, Dell Vostro, Dell Inspiron, Dell Latitude etc.
• Samsung phones- Samsung Galaxy, Samsung Note, Samsung Corby etc.
• The logo of McDonalds.
Due to changing preferences among consumers, increasing numbers of companies in India are seeking to strengthen their corporate brands. According to TAM Adex, the media monitoring specialist, the volume of TV spots promoting a corporate brand have grown by 40% in India this year. Hero MotoCorp has undertaken a huge corporate rebranding exercise, after dropping the title Hero Honda. The other leading players included in the charts were Maruti, Adidas, the Aditya Birla Group, the Tata Group and the Life Insurance Corporation of India.
Corporate Branding is important in the current scenario as the consumers are asking questions to corporates about their philosophy, practiced values, stance on sustainability and contribution to the society. Firms have realized that it can be a game-changing strategy.